Is there a percentage of your net pay that you can keep ?

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Stephen.03

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Post by Stephen.03 » Fri Jul 01, 2016 3:38 pm
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Permitted retained income, is there a percentage of your net pay you can keep?
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Foggy

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Post by Foggy » Fri Jul 01, 2016 3:50 pm
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There is no set percentage. The IVA payment is calculated as your essential outgoings, as agreed between yourself, IP and, ultimately, creditors, deducted from your total net income --- the difference being the IVA payment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Mon Jul 04, 2016 12:19 pm
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You should be given an allowance to pay your reasonable living expenditure.

As Foggy says the balance after that is what is considered as part of the contributions.

It is up to creditors to decide whether the offer is acceptable.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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