What are the caps for expenditure under IVA?

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jack
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by jack » Mon Jan 22, 2018 8:56 am
Where can I find out what the caps are for expenditures under an IVA. e.g. food, clothing, pet insurance etc?
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kallis3
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by kallis3 » Mon Jan 22, 2018 9:00 am
Hi,

Put down what you spend and your IP will alter them if needs be.
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Foggy
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by Foggy » Mon Jan 22, 2018 9:19 am
Don't know if it is still the case, but the Stepchange website used to give hints as you filled in the online I&E. But, as Kallis says, put down what you spend and the IP will adjust accordingly.
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Mrs_Brown
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by Mrs_Brown » Mon Jan 22, 2018 1:21 pm
Stepchange do offer suggested amounts when putting a budget in. I didn't have a clue on a lot of things, such as clothing, as I was so used to not having any money left at all for anything other than bills and buying food on my credit card.
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jack
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by jack » Tue Jan 23, 2018 8:34 am
jack wrote:
Where can I find out what the caps are for expenditures under an IVA. e.g. food, clothing, pet insurance etc?


Thank you for your replies.
I know the IP will make the adjustments being in my fourth year of my IVA.
What I"m asking is:- Where are the caps written down? Who sets them? Are they inflation linked?
Thanks
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kallis3
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by kallis3 » Tue Jan 23, 2018 8:53 am
As Foggy says, you may find some on the Stepchange website but I don't think they have been updated in a while and I don't think they are linked to inflation.
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Foggy
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by Foggy » Tue Jan 23, 2018 9:09 am
jack wrote:
jack wrote:
Where can I find out what the caps are for expenditures under an IVA. e.g. food, clothing, pet insurance etc?


Thank you for your replies.
I know the IP will make the adjustments being in my fourth year of my IVA.
What I"m asking is:- Where are the caps written down? Who sets them? Are they inflation linked?
Thanks


The most commonly used are the ones produced by Stepchange ( still often referred to as the CCCS Guidelines ). The latest set I have is 2015 --- they are not generally published and are difficult to track down outside of the industry. They are revised in line with inflation periodically, although they do not seem to use the generally accepted inflation figures. However, at the end of the day they are only guidelines and are as open to tweaking by debtors as they are to creditors (who do often "tweak").
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