Iva accepted .. a few questions!

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Pigger479
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by Pigger479 » Sun Jun 11, 2017 9:29 am
Hi iva was accepted on Thursday and I gotta be honest I've never felt better. It's finally broke a horrendous cycle thats plagued most of my 20s now it's on to dirty 30s and a clear credit file in 6 years! My m question is I intend to save whats down on my income and expenditure for car repairs , clothing allowance every month etc each month for when it's actually needed. If at the yearly review I haven't used all this money could this go against me and make my iva payment higher ? Thanks
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Foggy
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by Foggy » Sun Jun 11, 2017 9:53 am
Most IP's accept that you need to save these things for that rainy day they are intended for and will actively encourage a good savings habit. Anything you do save this way, as well as 50% bonus payments / overtime, is yours and should not be drawn into the IVA.
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kallis3
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by kallis3 » Sun Jun 11, 2017 9:56 am
It is for your needs - you never know when a big bill might arrive!
Pigger479
Posts: 25
Joined: Tue May 16, 2017 5:07 pm
by Pigger479 » Sun Jun 11, 2017 10:11 am
That's great thank you!
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