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if i can manage to save any money from my agreed monthly expenditures will i be expected to hand this to my creditors or It will be seen a prudent living

Hi Gavin I save from mine if poss it is always best to keep a little back for unexpected emergencies. The overtime I pay over each month and save my half for a bit of fun or if the washing machine blows up. I think a lot of us as said in another thread have a little piggy bank somewhere and if you live as you say prudently that shows you are learning to value the money you have and save. We have never managed to save anything , its nice even if its not a lot you will get great satisfaction. I dont think your IP would take this from you.

Anmg

Please visit my blog at http://aguise.blogs.iva.co.uk/

So long as your savings are from actual budgeted expenditure, or your share of any 50% uplift, these monies will not be required to be paid into your IVA.

Saving money during an IVA is a very good idea, as not all expenditure is paid on a regular monthly basis, and you do therefore need some form of contingency fund.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi gavin,

Your IP wont take that money from you as long as it is taken from your expenditure budget. I personaly think its a very good idea!

Regards,
Michelle P.

If there is money left in your monthly budget after you have paid all your reasonable living costs then it is fine to keep these monies in a savings account, and in fact it is recommended that you do so.



Best Regards
Oliver

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