IVA Advice re: Payday loan reclaim

jazzol

I've just started an IVA and I have a general question about saving for emergencies etc. So my finances have been scrutinised and it has been decided I have a spare £100 per month to pay my creditors. If I were to manage to save any money per month and put it in a savings account for emergencies (ie., car breakdown or a even a little holiday somewhere) will I be forced to give it to the insolvency firm? I'm struggling to understand how I am to save for emergencies without them thinking I'm therefore not paying enough off my debts and forcing me to pay more per month. I'm terrified in case something goes wrong with my car or something and I've then got no spare cash to get it fixed.

brettcta

I’m struggling to see how that relates to reclaiming something from a payday loan?

It’s also in the wrong forum, stick it in the IVA & bankruptcy forum

[Deleted User]

jazzol wrote: »

If I were to manage to save any money per month and put it in a savings account for emergencies (ie. a little holiday somewhere)

I don't think a holiday would be regarded as an emergency..

brettcta

I’m sure your creditors wouldn’t mind so long as you send a postcard.