I&E Guidelines ???

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luluj

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Post by luluj » Sun Jan 27, 2008 7:59 pm
Is there a web site where the suggested I&E is printed so that I can see whether or not we have been allowed the suggested amount or not prior to completing my annual review form?
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carlmcmullen

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Post by carlmcmullen » Sun Jan 27, 2008 8:16 pm
Here is a link to Andy's Forum

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=7238

Gives all the guidelines, copy and paste them into a word doc and then you can print.

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Cybus

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Post by Cybus » Mon Jan 28, 2008 7:32 pm
In completing your income and expenditure, you should not really be referring to 'Guidelines'. You should state your actual Income and Expenditure.
I think viewing guidelines, it can be too easy to give in to the temptation of showing increased levels of expenditure on certain items because those guidelines suggest you are 'Allowed' a higher amount.
Others may view it differently, just my personal opinion.
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iva.com

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Post by iva.com » Mon Jan 28, 2008 7:43 pm
Hi Lulu,

I agree with Cybus in that the best approach is to provide actual income and expenditure figures. Using guidelines can also encourage people to give unrealistically low figures which can lead to entering into unsustainable arrangements.

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Terry Balfour
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Adam Davies

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Post by Adam Davies » Mon Jan 28, 2008 7:47 pm
Hi
I agree with Cybus in that your expenditure should be just that,your expenditure.
However creditors seem to stick to the CCCS guidelines so the result is that if you over budget they end up asking for more disposible income at the creditors meeting.
The industry has moved from honest and accurate proposals towards inflated expenditure proposals that allow for creditor squeezing
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Andam Davies
 
 

MelanieGiles

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Post by MelanieGiles » Mon Jan 28, 2008 9:25 pm
I was not a fan of the guidelines when I first came across them, but having now had a copy on my desk for the last couple of months I find them workable and in my experience it is quite rare to find that clients actual expenditure is materially higher or lower than the figures quoted.

IPs should definately not rely upon the guidelines when advising clients, but should justify by exception where actual areas of expenditure exceed the prescribed limits, so that creditors can take their own view.
Regards, Melanie Giles, Insolvency Practitioner
 
 

rickyg33

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Post by rickyg33 » Mon Jan 28, 2008 10:29 pm
are there checks and balances, so to speak, annually by the IP to see if your agreed expenditure is going into the areas you signed up to?

for example, if you agree £20 per month for shoes for the family, are you expected to stick to that and 'prove' it's validity each year?

rickyg
 
 

carlmcmullen

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Post by carlmcmullen » Mon Jan 28, 2008 10:33 pm
Most IP's will want to see things like bank statments to confirm Water, Gas, Electric, C/Tax mortgage and rent payments.

But things like clothing, personal hygiene are guidelines and if you exceed these guidelines then there needs to be a valid explantion for this which may need to backed up with evidence if they are seen to be unreasonable.

Carl
 
 

rickyg33

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Post by rickyg33 » Mon Jan 28, 2008 10:39 pm
OK.

I had this scenario in my mind where you have to keep each receipt and annually account for the categories that you have agreed, expenditure-wise.

So, if you agreed £20 per month [£240 per year] for clothes and only spent £200 that year, you'd get knocked down to the lower level for the following year.
 
 

MelanieGiles

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Post by MelanieGiles » Mon Jan 28, 2008 11:03 pm
Apart from wage-slips, I rarely ask my clients to produce other documentary evidence at the time of annual reviews. I generally trust them to provide me with accurate information, but we would query material differences if we felt there was a need to.

Ricky - it is a good idea to keep details of your expenditure but not to get obsessed by it. I would certainly expect clothing expenditure to increase as the years went on and not reduce, and IP's simply do not have the time to audit every area. As I said it boils down to trust and repect at the end of the day, and as you guys have made sacrifices to ensure your creditors are repaid as much as possible, there has to be a degree of flexibility in the arrangement to allow you incentive to continue.
Regards, Melanie Giles, Insolvency Practitioner
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