Latest CCCS budget guidelines published. The UK’s largest debt charity the Consumer Credit Counselling Service (CCCS) has released it. and expenditure? for example, the CCCS advised budget for food . I understand that the April CFS housekeeping trigger figures may. Where can I go to see the CCCs budget guidelines for familys. by Tina Shortland» Wed Jul 27, pm. When you are discussing your.
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By and large the debtor has little choice but to go along with such modifications although the IP whom the debtor has nominated to act may enter into a dialogue with creditors and seek to get them to change their minds or soften the financial burden on the debtor a little. Many people guidelined the web to try and find out buudget IVAs before taking the plunge of going to see an insolvency professional.
IVA Living Expenses – Part 1
See more case studies. This decision is taken at a meeting of your creditors and it is binding on all of your creditors, even those who abstained and elected not to vote either for or against your proposal. This disposable income is the payment you make each month to your IVA and which is used to pay your unsecured creditors and to fund the administration costs of your IVA.
An IVA is about affordability and is also about being able to live within your means whilst providing your creditors with a return. These guidelines set out the maximum and minimum amounts which a debtor proposing an IVA may claim in his or her statement of income and expenditure.
This means that if a financial statement includes items of expenditure that are either at guodelines below guielines level of the appropriate trigger figure, money advisers can expect that their payment offer should be guixelines. When you are discussing your situaton with a couple of chosen companies you can ask them for some guidelines – some companies are happy to discuss them with you.
The IP may agree, or not, but if you show just cause then go outside of the guideline amount then that is it. But we all know they don’t! The answers to these sorts of questions are not set down in any one place and it is not easy to determine what expenses will be accepted by creditors and what will not.
What is an IVA?
Where can I go to see the CCCs budget guidelines for a family ? – IVA Forum Free advice
There are no upfront fees to be paid and if your creditors do not accept your IVA proposal, you pay nothing to the IP. The IP assumes all contact with your creditors on your behalf and makes the payments guidelimes your creditors out of the monies you pay into your IVA. Many thanks Foggy, Kallis3, KatiKat will go in and give your advise a try, cheers and Tina S, for the advice, I was wondering why I couldn’t find anything, Just wondered where people got their figures from and if I was being given the right figures in and if they had gone up as my cost of living has!!!!!
You need to have a regular source of income and have a reasonable amount of disposable income left over after taking into account your normal living expenses and the amount you need to keep back to service your secured debts such as your mortgage and guiddlines HP.
This is the place for new questions to be posted. PS – this is probably already common knowledge on this site, but nevertheless I thought I would put it up for information purposes and possible discussion. My opinions are merely that. Originally posted by enaid View Post.
Thanks for your help guys, its great to know there are people out there that care. Before we look at the detailed expenses allowed by creditors in an IVA it is worthwhile to remind ourselves in simple terms what an IVA is and look briefly how it works. There is no set limit to the write off amount, you will always pay as much as you can afford during the IVA.
CCCS budgeting guidelines – LegalBeagles Forum
On google UK type in ‘cccs guidelines ‘. My previous company told me and i suspect they were lying that these are a legally accepted budget guideline. Who is online Users browsing this forum: Mobile calls may be cheaper on Mon-Fri 8am-8pm Sat 10am-7pm Contact Us Terms Go to top. It is our job to properly assess our clients expenditure, and jistify those levels to creditors.
No wonder why I couldn’t afford things, but with a slight wage increase I can now hopefully argue for the extra bits to help me live a little better. I recall saying this on another thread recently, but I use an excel spreadsheet for our family budget and use the figures on this for my income and expenditure, because that 20111 exactly what I spend, no website or guidelines can tell me what we earn or how it is spent. Upgrade to become a bigger part of our community.
Because every case is different creditors must guidrlines at each IVA proposal before deciding how they vote.
This is quite a sensible approach in so far as the understanding and knowledge gudget will help the individual prepare for a deeper scrutiny of their personal finances, particularly if they are in financial ccxs.
Hi, when we were first thinking about entering an iva, I went on the CCCS website and did their debt remedy. Thank u very much snuggzzz, your a diamond, i googled it and got the list too, excellent read and some of my figures are a lot lower than even the cccs guide.
I’ve always put down what we spend and have never had a problem.
One of the most common queries that people have is how much they will be allowed to live on if they are insolvent and have to enter into an IVA or indeed go bankrupt. The debt remedy is confidential and you don’t put your name or address on, just all of your income, expenditure and debt details.
Search and Compare fixed fee legal services and find a solicitor near you. They want to know how their family will fare and particularly their dependants. If your IVA is accepted, all of your creditors must cease recovery actions against you and must, by law, suspend all interest and charges.
Originally posted by pfloyd View Post.