Another IVA question

ld54336

Hello again

Since the end of Jan i've been sending token payments to creditors as advised by Payplan- as a result we'd saved a couple of hundred pound.

Are Payplan entitled to ask for this saved money? We'd intended it to be a contingency fund for when the IVA was in force (after all- disasters can't be sorted out with credit) but as it is- our boiler has packed in & we have someone coming to fit a new one in the week. That has taken all the saved money.

Thanks again!

Nargleblast

Can't see any problem here, you have had an unforeseen expense with your boiler and can provide a receipt to show how much it has cost to repair. Once your IVA is up and running then any unforeseen expenses would be discussed with your IP and your payments reduced to cover them. At least the repair job will have cost a lot less than buying a brand new boiler!

ld54336

I hope so- i know that when we had our first phone interview- they asked if we had savings over £1K- our "stash" had only been £850 anyway so hoping it just doesn't get mentioned