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Posted: Tue Jun 19, 2007 4:21 pm
by maizie
Can you include in your expenditure something like storage? I pay for storage for all my household goods and clothes etc from when I had my house with my ex? My IP didn't include that on my expenditure because she said it wasn't acceptable but I pay £65 a month for that! Any suggestions? Would they also get me to sell the stuff?
Life is far too stressful!!
Posted: Tue Jun 19, 2007 5:20 pm
by iva experts
Hi Maizie,
I cant see that the creditors would be willing to accept a provision for storage as of course they would rather the £65 per month going towards your debts.
I could be incorrect but I think that's why your I.P wouldn't allow this.
Is there any particular reason why you don't want to sell these items?
Best Regards. IVA Experts
Posted: Tue Jun 19, 2007 5:23 pm
by finebridge
Hi Maizie,
In my experience the creditors do not make provision for such expenditure as this would be seen as an extra £780 per year into the arrangement.
Kind Regards
Nicola
Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk
Posted: Tue Jun 19, 2007 8:15 pm
by MelanieGiles
But if you have a justifiable reason for incurring the expenditure then why not declare it. It is down to creditors whether they choose to accept it, not your IP, so personally I would have left that in - but perhaps warned you that it might be removed at the creditors meeting.
The trick here is to make sure that unusual items are explained. I have personally submitted and had accepted several IVA proposals with storage charges included in them.
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
Posted: Wed Jun 20, 2007 8:43 am
by maizie
The majority of the stuff in storage are family hand me downs... not worth much but mainly sentimental. I still have clothes in there plus my bedroom furniture and kitchen crockery etc. which I don't really want to get rid of. I am living in a pocky single bedroom at the moment hence the reason why I have the storage. If I were to move I would have nothing... thats the reason why I am keeping it all.
Life is far too stressful!!
Posted: Wed Jun 20, 2007 8:57 am
by MelanieGiles
Seems very fair to me!
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
Posted: Wed Jun 20, 2007 12:20 pm
by finebridge
Hi,
We held a creditors meeting around a month ago where the majority of creditors increased the voluntary contributions and explained this increase came from removing the storage costs.
I would agree with Melanie's point of keeping it in the expenditure (as we did) with a good chance of it being removed by creditors.
Kind regards
Nicola
Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk