IVA Advice re: Payday loan reclaim

Options
jazzol
jazzol Posts: 2 Newbie
in Reclaim PPI & other insurance
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.

Comments

  • brettcta
    brettcta Posts: 4,693 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    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
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    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
    brettcta Posts: 4,693 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Options
    I’m sure your creditors wouldn’t mind so long as you send a postcard.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards