- Wed Oct 04, 2017 6:16 pm
I would never desert you and - sorry have further need of your services
- away from the crowd found on certain outlets.
First of all Life Insurance - I have a Term Policy with no surrender value that costs £45 per month.
The OR told me that I will have three options
1. Cancel the policy - ha ha that would reduce my outgoings by £45 month (IPA warning
2. "Buy it Back" off them for £50 one off payment - bit like the beneficial interest in a house massively scaled down.
3. I think was let them have a charge on it until I am discharged.
Obviously if I peg it they want to get their hands on the 100 Large to pay their fees and creditors if it is still live. Can you find out or provide a link that explains exactly what happens with this sort of policy and what the options are. They said they have already written to Aviva and I will get a letter explaining my options. I like to be prepared.
Secondly the NT Affair which you have previously alluded to. I need to know what the criteria is for paying this or is it arbitary. Although on my reduced earnings I am paying about £30 Month Tax she said they would not be applying for this in my current circumstances. However if my earnings rose by about £60pm they may consider it.
So what I am basically asking is it possible to have an NT only IPA even if your overall Income and Expenditure is showing a deficit which would not result in an ordinary IPA and more usefully as I mentioned before on what basis is the decision is taken.
Thirdly and similarly Council Tax was mentioned as a possible hit if my wages went up by about £60. From what I can garner it seems they would take the whole year including what I have already paid and am still due to pay.
Although both these measures would only be in place until the end of the Current Tax Year and would not cost me anything I want to avoid the hassle and involved dealings with the OR.
As my current Income and Expenditure (£160 deficit on paper) has not resulted in either measure being adopted I need to know the exact criteria and circumstances that have prevented them being applied and what would cause them to be started - ie what are the trigger points/situations from a financial point of view.
The only consistent thing about Creditors is their inconsistency-C Butts 2008 - My Lawyers are Watching - Hopefully my Creditors are not!!!