If I have for example £100 budget for petrol and £200 for food and household goods and I only spend £250 on some months for those 2 combined, can that £50 be put away to save? If they then see that I’ve saved something like £200-£300 will they take that from me during my next annual review? I know they would probably increase my monthly payments but my main question is will they take away any savings I manage to save
As long as they are the modest figures you describe they should let you keep it .... after all, we rarely spend the same every month, sometimes the £50 you saved last month might be used up next month. Also, some expense categories are supposed to be saved, month on month, like car maintenance or even haircuts, until they are actually needed.
There is, or was, one firm where the IP was adamant that absolutely no savings were allowed --- but, for the life of me, I cannot remember who! This IP, thankfully, is a rare mutation of the species !
Incidentally, deposits to the bank of mattress rarely come to light.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk