Advice for Ox

[Ox1987]

I dont know why but I also found the 6 years credit thing a bit daunting and in fact do you even notice

It might be citralopram that is doing it as I am feeling the usual creeping back

All the positives that I have I must believe.....

[Hyperdrive]

The positives are reality the real you, the negatives are the depression, the cloud.
Keep focussed and move forward[:)]

[Ox1987]

I know I now am not fearing the IVA but just things feel a bit daunting worked out that of my wage I have 2500 of normal regular bills CT electric phones insurance etc etc and the 1500 of things like food petrol clothes and other stuff. Really looking at the budget closely.

I have a letter from existing mortgage to fix rate for 5 years will IVA effect this at all as it is existing bank

1 kid less but still got one friend for tonight playing FIFA on PS3 with them at mo

[Hyperdrive]

IVA had no effect on our mortgage, even though the mortgage was with our biggest creditor (Woolwich/Barclays).
Our existing fixed rate deal ended 6 months after IVA approval, but we were then put on a lifetime tracker 3.49% above base so Happy Days[:)]

[Foggy]

Once you get settled into a budget you will find it works --- I am going to stick to mine even after the IVA finishes. My surplus will be saved.

[Ox1987]

I just suppose I have not been seeing the IVA as the lifeline it could be and always seen the negative effect of being insolvent which I never thought I would be especially with 3 kids. When do you technically become solvent again if my F&F is approved could that be sooner

Its the fear of everything that drives me crazy, it has crept back this afternoon as we have had such a good day and i feel a bit happy i dont want that to change. though however the wife and i are concerned about the creditors and they have been very quiet so far. i need this to have little impact on the kids if it can. i do wonder whether the tablets affect me differently

[Hyperdrive]

Its the fear of everything that drives me crazy, it has crept back this afternoon as we have had such a good day and i feel a bit happy i dont want that to change. though however the wife and i are concerned about the creditors and they have been very quiet so far. i need this to have little impact on the kids if it can. i do wonder whether the tablets affect me differently

Ox I think the tabets are working. Your posts are much more positive.
It is just a fear that is driving you crazy, you see that now !




[/quote]

[Shining]

I came out of my IVA in January and still maintain the budget the IVA payment goes into a separate account still instead of to IVA company. I'm not saying it's all there as I've bought a few things but the majority is and I'm loathe to spend it at present.

[Ox1987]

I agree i am today mainly scared of not managing in the future but as stated i will have to

[Shining]

I'll be honest Ox within an IVA I was better off than pre-IVA.

I used to be paranoid about missing payments so I'd miss meals and go without things to pay creditors etc., within the IVA I made my payment and still had a clothing allowance and a food allowance. Luxury for me and my child.

[Hyperdrive]

That is so true Lesley.
All of our income, and more, went to servicing our debt

[Ox1987]

Had another good night it seems like mostly my worries are about surviving now still cant seem to rid BR from my head even after what everyone has said i keep thinking that and a repo
i feel a bit concerned in this limbo phase with creditors in limbo also while we complete things etc, also found out that someone else i know that is in an iva

Thought i would share my SOA so you could see if i am worrying over nothing about surviving and you will probably tell me that this is better than most.
This differs slightly from the official one as there is a few more lines but you get the jist

Mortgage 1,131.40
Secured Loan 385.24
Service Charge 25.00
Water 50.44
Council Tax 187.00 ten months
Electricity/gas 115.00
Building Contents 27.71
TV Licence 13.00
Life Insurance 148.66
Prescription 10.40
Mobile/Phone 91.00
Car 393.42 includes tax insurance and car lease
Spares/Repairs 25.00
Petrol 200.00
Bus 100.00 school runs
Food etc 550.00
Pet 10.00
School trips etc 36.00
Hair 35.00
CIMA 20.00
Clothing 85.00
Sports/Hobbies 50.00
Sundries 50.00
Other -

Total 3,739.27
Wage 3,963.50
DI 224.23

This is still a concern, let me know your thoughts on it, worried a bit more today about it all. Does anyone feel I would be better going BR, this is still causing me stress after some good days. At present the future looks a long time.....feeling sick today again and worried as alcohol seems to be helping to relax

[josu]

No to BR!!!! You don't need to, look at your expenditure, add hair, school trip, clothes, e.t.c e.t.c together and you have got a fair bit of spending money right there cos that is what that is. Yes your mortgage and your secure loan are the problem. How long is your secured loan? Its the car Ox, reduce that down to just the price of car insurance and tax on a cheap car. Thats your answer, obviously not before the F&F but if that gets accepted and your debts are gone don't get into debt again by living pay day to pay day, something has to give. If the F&F is refused definitely do a normal IVA, get rid of the lease car, pay your contributions. To be honest not being able to get credit was one of the positives for me, i never want it again in my life. Having no debts is the same as being rich to me!!!

[josu]

Also, you have £200 for petrol and another £100 for bus/school runs, is there anyway this could be cut down. Do you live miles from home? To be honest i think its going to take a while for it to sink in but to someone like me (less than 40k household) that expenditure looks amazing!!

[Ox1987]

You see the fear I have is not being able to afford the mortgage etc and having to go BR. I have never missed them but was it propped up by credit. The issue is with the car if it does not go into the IVA i will owe on it until maybe 6 months time. I can extend my mortgage by 4 years and it would save 132. Thats my fear living pay day to pay day but many people must do that. I am hoping that the wife may eventually get some work and i may get pay rises
Other than the car i am not sure what can give, only increase income eventually, see in my funny head i am seeing that this is an impossible situation and that it wwill crumble and we wont be able to pay house etc and have to go BR