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IVA living expenses versus BR
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blind-as-a-bat wrote: »I had to add to this ,the questin is a BR clause is included is important as they are not always included with IVA,s, so insist it is, or at least make sure you know its not so if it fails you know where you stand
Most decent IVA companys will include it but not all, and it will only be valid IF you pay enough in to cover the costs of the IVA AND the BR so be carefull;)
Blind, I'm not doubting what you're saying because my process was a CVA rather tha an IVA, but the IP basically said he operates them in exactly the same way.
So, if you pay £500pm into the IVA/CVA then at the end of 12 months he will deduct £2k for his fees, retain £3k as a bankruptcy contingency and distribute £1k to creditors. In the 2nd year he would take £2k and distribute £4k because he has already got the £3k in reserve.
Maybe you have to push for this arrangement, not sure?Gt NW 1/2 Marathon 21/2/2010 (Target=1:22:59) (6:20/mile) 1:22:47 (6:19):j:j
Blackpool Marathon 11/4/2010 (Target=2:59:59) (6:52/mile)
Abingdon Marathon 17/10/2010, (Target=2:48:57) (6:27/mile)
09/10 Race Results : http://www.thepowerof10.info/athletes/profile.aspx?athleteid=103461
Racing Plans/Results - Post 3844 (page193)0
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