www.iva.co.uk

Hi all,

Not sure who can answer this one - might have to be an expert but all advice appreciated!

I have been approached for a possible new job and its in London which is exactly where i want to be. If i were to do it i would want to sell my car (worth about £2000) I am aware that this money would then be classed as 'windfall' and under my terms would need to be paid in to IVA, but could this money be used to purchase a years travel - i.e a Tube Season Ticket in London, which, for the Zones I would need would cost around £1700 per annum.

I really do want to try and better myself, however hard that is to do whilst in an IVA as the extra money goes in (good thing of course) so that when its all completed I will be in a good position professionaly and financially!

Also my outgoings would be higher than where I am now and although I would be earning lots more it would probably mean the IVA payments would only increase by a smallish amount - albeit an increase, would my IP be ok with this being as i am putting myself into this situation? I dont want to look for a new job unless its worth while in the long run. [:I]

Sorry if this is a long post but these questions in my head drive me mad - thank goodness for the forum! [8D]

Thanks
Gavin

Hi
Your car was excluded from your IVA and to use the sale funds to purchase a tube season ticket is fine
Good luck

Hi Gavin

Can't answer your questions I affraid, I will leave that to an expert..

Just wanted to wish you luck and hope the job comes your way, I remember you talking about this at Frugal Friends meeting.[:)]

Best of luck and I am sure there will be a way to make it work with your iva, otherwise it would be silly as you are trying to better yourself and could portentially pay more into the iva pot[:)]

Emma x

Seems like a great move for you Gav. Just make sure that you put money away to pay for next year's season ticket this year.

Good luck Gavin, I hope it works out for you x

Thanks all - thats given me some real food for thought, and probably another few questions which i'm sure will appear at some point i imagine!

Gavin

good luck.. if its a chance to better yourself, grab it with both hands

I think your IP would be ok as long as you can keep up payments you originally agreed to.
Good Luck anyway.