www.iva.co.uk

I have just been offered a grant, from the Open University, to pay for my internet. Can be upto £30 per month whilst I am studying.

Will this be classed as income? I have an allowance in my expenditure for £38 for my phone/internet.

Basically, i'm just wondering if its worth taking the grant or not!

Also i'm allowed upto £500 in 'windfalls' - would the grant come under this?

Thanks

ruby

Hi ruby

Yes the grant is treated as income, but as it is used for specific expenditure then you just net the one off against the other. So if you have provided for internet expenditure as you say, you will not benefit from the payment as your IP will no doubt ask for a proportionate increase in payments at the date of his annual review, unless you have additional expenditure in other areas which you need to declare.

The grant is definately not a windfall.

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

Thanks for that,

This is site is so useful as I seem to work the same hours as my IP and it can be difficult for me to contact her during the day, especially for what I class as 'silly' questions!

Thanks again

ruby

That's what we're here for Ruby - 24/7 advice (or almost).

Glad you are finding the site useful, as so many others are at the moment. And no questions are silly! Do remember that the questions you think are daft, are actually probably being asked by a lot of the other forum members as well. You just got in there first!

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 Melanie

Just wanted to say that I am an Open University lecturer ... in a successful IVA ... good luck with you IVA ... and your studies

If you accept the grant and have already provided a budget for your internet it is likely that this income will need to be paid towards your IVA payment.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Hi Ruby,

Just wanted to repeat what Melanie mentioned above, there are no silly questions on this forum so please keep posting your experiences.

Best Regards. IVA Experts

Thank you,

I am not going to take the grant. The Open University paid all my course fees and gave me a grant last year to get my PC, so I would rather someone else had the benefit than taking it myself and passing it straight on to the IVA.

ruby