to go to 48p(pound) or to start in 40p ist

[jo.a]

hi .. .i'm on the process in my application for iva and i was told that my affordability rate is 48p per pound but i was thinking will it be better to start 40p per pound in the first submission of my proposal then if there will be some modification as expected sometime then it's much easier ... also i regularly send money back home in my native country to support my mom who is ill ( she suffered from stroke or cva)and sister who is mentally deppressed ... of which i regularly send around 150pounds w/c is not included in my expenses as the adviser(in my iva) said the creditor will not understand it ...so we made some patching up in some areas ..

[abc]

The purpose of the IVA is to pay what you can afford, not as a bargining tool!

I have proposed IVAs where they have sent money back to support their family. As long as it is not excessive. Your income & expenditure should be factually correct.

[Cybus]

In proposing an IVA you should be making your BEST offer. There's no haggling about it.

I am disappointed that your IP has chosen to suggest to you that full disclosure should not be made and further he has chosen to 'fudge' figures in your proposal. I'm not happy about that at all.

I don't know what else to say, I'm afraid.

Who is acting for you in this matter?

[Adam Davies]

Hi
I would hazard a guess that the IP is unaware of this and that the income and expenditure is being put together by a member of the team.Possibly a large IVA provider.
Regards

[Cybus]

You're probably quite right in that assumption, but it is going to be the IP putting his signature to the Nominee's Report. I hope that this error of judgment is put right

[OPTIMIST12]

"patching up" sounds WELL dodgy - how can any company put this forward as an option?? IVAs rely on openness and honesty from all sides - surely money sent to other parties (family or whoever) for whatever reason must be fully disclosed so that Creditors can decide if they view it as legitimate in terms of the I + E put forward??

[jo.a]

dave was right .it was not the IP who said that to me, it was a team member i guess ,who gather data and facts ( I & e )then the matter will be brought forward to the IP,

[Cybus]

dave was right .it was not the IP who said that to me, it was a team member i guess ,who gather data and facts ( I & e )then the matter will be brought forward to the IP,

This may be something the IP is not aware is happening in his firm. In signing off the Nominee's report he may well trust the judgement of his staff.

Personally, I would make him aware of what has been suggested to you by a member of his staff and ask for his opinion is on the subject. If he suggests he is happy with what has been suggested, then my advice to you is to go elsewhere.

[MelanieGiles]

And I do not think that creditors will allow you to send money home to your family at their expense sorry. You can try, but do be prepared to see the IVA rejected or increased contributions being demanded.