Savings during an Iva

katb01

Hi currently in an Iva and husband has secured a good job. Although we will have to declare increase can we start saving as part of our outgoings or do we have to make all the cash available

Vikipollard

I saved all the way through mine, but that was from making savings from the allowances in the first place, then when I got a pay rise, the 50% I was allowed to keep also got saved.


They will tell you the amount you should pay - as long as you declare the additional income they will reassess how much you should be paying and you then pay that figure. The same should apply if he had had to take a lesser paid job.


Just keep your IP informed and congratulations to your OH on the job.

Curlybing

I have a little bit saved in the credit union, I just throw my loose change into a tin and bag it up every now and then. To me it's peace of mind in case anything goes belly up, knowing I can't get credit for the essentials has made me a lot more money savvy

Jenny52

Have today received a letter from moorland debt recovery..I don't understand why we are receiving these letters as we have an IVA thru an debt management company and the creditors agreed it. What do i need to do..thanks

Find_The_Real

Hello Jenny

Without knowing the contents of the letter it is difficult to advise in great detail but I would send a copy over to your IP so they can deal with the correspondence directly.