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Can anyone give me some property advice please :-)
Comments
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Well if someone was in an IVA they wouldn't be able to stock pile the cash each month! The amount you can afford to pay back to your creditors each month is calculated by subtracting essential living costs (such as food, clothes and travel costs) and priority debt arrears payments (such as Council Tax arrears, mortgage arrears and rent arrears) from your income. The purpose of the calculation is to show your creditors how much you have available to offer them at the end of every month after all your living costs have been taken into account.
Income is taken into account..you could have two people with the same level of debt however the one with the lower salary will pay less.
It is not a vehicle for saving for a rainy day!0 -
Sorry, I am not talking about deposits and lump sums. But the monthly income may be enough for renting from a private landlord while the property is let or sold.
Unfortunately I know all about insolvency!"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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