We've started with IVA on 27th August this year. I did not have a job at that stage. We only had my husband's wages, and was told that when I do get a job, I need to pay 50% into the IVA as well. I've started with a job on the 1st of October, and told the people that is dealing with our IVA. THey were quick to find out what I was going to get and worked out that we have to pay £1795.50 a month. These couple of months, I did not get my full pay, because I had a knee operation. When I told them, they were very unfriendly. I've told them that at the moment we are paying more than we would have to our creditors. The lady said that if i had a job in august that the IVA would not have been approved, because of our wages being so high. Is the IVA not there to help you? I am helping my parents every month as well financially, but they cannot take that in account. Does anyone know what excactly you can claim for a month? We are struggeling to get through a month. Have 3 kids as well.
Did you complete another income & expenditure form when you began working? Your whole finances should have been re-assessed as yes you are now earning, but there would also be expenses to be deducted from that amount, i.e. travel fares, work clothes etc.
Unfortunately, you cannot make allowances for helping your family. I know its hard, but creditors expect you to repay 100% of your diposable income into an IVA. Do your parents know your financial circumstances? Maybe you wouldn't be struggling if you were not helping family?
I don't know why you were advised the IVA would not have been approved if you had a job in August? Unless your wages were so high that you wouldn't be classed as insolvent?
I agree with Julie that you would not be given an allowance to help your family. That is the one thing with IVA's - you have to pay 100% of your DI across.
I also agree that perhaps, once you had your job, the joint earning may have been such that you could pay your creditors in full in less than five years, and if you could make payments, then you wouldn't be classed as insolvent.
If you could post a little more about your circumstances it may help us to advise.
Which company are you using?
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
Hi Confused.
If you are not earning the full salary you should only be paying 50% of what you actually do receive. There are of course allowances that can be claimed as a result of your working but you would not be normally allowed to help your family as an expense. You would be expected to use your 50% of the income for assisting your family unless you could show extreme extenuating circumstances.
Thank you for all the feedback. We are with Freeman Jones. Do not know if they are good. I was told I can only claim for travel expenses. Can I claim for work clothes a month as well? My parents is retired, and we only give a couple of quid here and there. Can we change from Freedom Jones? If so, does the IVA start from scratch? They said the money we paid so far did not go towards our debts yet, it is for their fees.
You should be able to claim a clothing allowance, but I don't know what it is, and it should include all your clothing.
You can't change your IP company once you have started an IVA. It would be costly and involve going back to the courts if you even tried.
You can try putting in for your clothing allowance on your annual review.
They are correct that the initial payments you make are for their fees, all IP companies work the same as far as I am aware. I only started making payments to my creditors in the last six months and I'm nearly two years into my IVA.
Do you have allowances for such things as dental, opticians, prescriptions?
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
I am not aware of any allowances for dental, opticians or prescriptions. I also keep in touch with lady from Freeman Jones, when we have changes in circumstances. It sometimes feel like she is only interested when we can pay more, and not when we are struggling to pay.
You should have been able to put down all of these things as seperate allowances.
May I ask what you are paying, and what allowances you get?
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
What were the terms of your IVA with regard to additional income - 100% or 50%? Ask your IP to clarify the clause in the proposal or Chairman's report which entitles him/her to claim the full amount of your increased disposable income, and then we can perhaps advise a little better rather than speculating what you should or should not be paying.
Hello, i am also with freeman jones and the problem is is that you are only talking to an office worker. maybe you would get further if you insist on talking to your ip directly. i get the impression that the relationship managers are just there to make money and do not act in your best interest. Obviously this is just my opinion.
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
