There is no problem with you making savings from your budgets. It is to be encouraged.
As regards overtime, it is pretty much standard that it's either 10% then 50/50 or a straight 50/50. Depends on your IP.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hey thanks for that, its nice to know where you stand before you start!
Just wondering, prior to the IVA starting do your creditors inform your IP exactly how much each of them are owed? and would we get a figure in the paper work, or do you think if the creditors know you are going down the IVA route and they know you have a house with equity in it would they load lots of charges onto the accounts?
Maybe they would think they could get more out of you if you have money in a house?
many thanks
( Just trying to make sure i know how they(creditors0 work, fairly i hope!
You will get full figures on what is owed from each creditor prior to your proposal. This is what you request from your creditors and what gets sent off to your IP. It makes no difference to charges etc., whether you have equity or not.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
