iva living allowances and Full and Final

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ian1968
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by ian1968 » Mon Jan 25, 2010 5:38 pm
Hello i am now in my 4th year of an iva and my job has changed at work. I can not be in a financial arrangement with creditors and will offer a F&F settlement (from friend) of the amount i would owe if i was to stay in the iva. However, for this process to take place i have to stipulate what my Expenditure and income is, just like the annual review. Can anyone tell me what and where i can find what is allowed by the guidelines. i understand these differ if your single/married/ have children etc....
is there a website that can give us guidance on these issues? thanks so much. By the way if it wasn't for this site i dont think i would be sane. well done to all those professionals who give up their time to help others and those who are in the iva club - thank you

 

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MelanieGiles
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by MelanieGiles » Mon Jan 25, 2010 7:44 pm
Thanks for your kind comments about the forum experts Ian, but you should not rely on industry guidelines to present your position to creditors. This should be based upon your actual expenditure, which presumably you have submitted to your IP at the end of each year so far.

 

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Julie
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by Julie » Mon Jan 25, 2010 7:46 pm
Hi Ian,

Almost at the end ...well done [;)]

With your I&E, just state what you actually spend. Have you been submitting I&E's for your annual reviews?

 

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ian1968
Posts: 57
by ian1968 » Mon Jan 25, 2010 8:34 pm
thanks to you both - yes i have just had my annual review - i have a phone interview booked later this week to go through my proposal with someone. i will let you know their advice to me - and again thank you for your advice

 

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Shining
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by Shining » Mon Jan 25, 2010 11:14 pm
all the best Ian do let us know how you get on.

 

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kallis3
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by kallis3 » Tue Jan 26, 2010 6:29 am
Good luck from me as well Ian.
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