www.iva.co.uk

Hi, I am thinking of applying for season Ticket loan provided by my employer to buy an annual bus pass at £950. It is an interest free loan in a form of cheque which is payable to bus company, after that a 12 monthly wage deductions will be made. Do you think I am allowed to get one while in IVA or not? Many Thanks.

As it would, on the face of it, reduce your travelling costs and, possibly, therefore, increase your disposable income, I would see this as a benefit to creditors, so the IP might allow it ... however, the dynamics of income and expenditure would mean no benefit for you in the grand scheme of things.

I would hope they would support this positively for you as it does save money in the long run

I started mine with my travel paid that way, so I worried about renewal. I emailed my IP and got it in writing that I could renew as the alternative increased my travel costs.

You wil need consent from your IP for this.

NB any savings made may have to be paid over into the IVA.