Our 3rd annual review is due in July. Trouble is...is anyone struggling. The cost of petrol and living generally has gone up so much we are really finding it hard to stick to our budget and finding that the last week before payday we have nothing but beans and toast to live on if we're lucky!
I have re-done our income and expenditure and they are within the CCCS guidelines and I have done it with what we spend... they are not too different, but we are still really really struggling.
I don't know what else to do?
IVA completed September 2014. Finaly debt free - final dividend 88p/£
Suzanne- I would re-write your income/expenditure without looking at the guidelines-be honest with yourself-its surprising what can be overlooked when working out the figures.
If you are struggling then your expenditure really isnt adequate.
Speak to your iva company about your worries.
Do you have the clause in your iva where your payment can be dropped by 15%.
If this still wouldnt cover your cost of living maybe a variation meeting can be called to reduce your payments.
It may be that it could extend your iva if you have to meet a minimum dividend but at least you would have the money to get through each month.
Good luck.
full and final accepted January 2015
iva agreed; August 2010
iva would have completed; August 2017
extra year thank's to NRAM
Hi Suzanne, I think we are all feeling the pressure of the increases in petrol & general living, even those not in IVAs are too. I know petrol & food is getting difficult for us personally.
Your annual review is a excellent time to look at you I&E and your IP will understand your struggles & need to amend your expenditure to compensate for the increases.I'm sure our IPs are feeling the increases with us IVA clients.
If you feel you are struggling at any point in your IVA I&E reviews can be done anytime, not just at an annual review. I know from personal experience as I have had a few.
Give your IP a call I'm sure they will understand.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Great advice above and do speak to your IP. Everyone is feeling the pinch and if your IP can help they will do as IVAs are not punishments. A reduction in payments or even a temporary payment break is often something that can put clients back on an even keel and even if it means a short extension at the end it may be worth it for the peace of mind now.
We are finding it hard to stretch the wages the week before payday. The fuel bill has gone up, the trolley isnt as full for our £100(used to have £80 a week for groceries). Our son is 14 later this month and knows money is tight but I will not let him suffer because of my incompetance with money,so that along with my cars mot due this month I could really do with my own money tree or 5 in the garden!!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Im the same Plasticdaft, I wont let our boys suffer from our incompetence either, especially when it comes to birthdays & christmas.
My Cars MOT & Service is due in June & i have absolutely done my best to save up for it, but with the petrol & our food bill & the boys forever growing & eating (wish they would stop it!). My pot for the car is not very healthy at all. Ive a feeling this year I may have to ask for a payment break, I just hope they will understand.
When you find that money tree - please send me one!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
I keep planting 50p pieces but they just dont grow into anything. We were allowed increases last year in everything that had gone up which ate up the meagre payrises the wife and I got(both work for the nhs at the coal face so to speak so not big earners),so thats helped but everytime I fill up the car it costs more and more!!
I will be glad when its all over.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
We have just lost 60 pound from my income but hubby has had a small increase in his wage so it has balanced it out. And we have been able to keep all of his other small increases in income through the IVA. This just means we are living on a budget based on last year for this year, so its starting to become a struggle.
Im with BE whom have sold us to GT so Im waiting for there welcome letter pack thing & will ring & say Hello!
Im sick of the price of petrol! 137.9 for us at the mo!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Petrol prices is a good site and I use it all the time. As for the annual review - put down what you spend, the creditors know how things are going up! We have been able to keep our payments the same for the past three years.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
yep the beans on toast thing sound familiar! not sure if it would work for you but we started having our shopping delivered and found we stuck to the food budget ..better and we allow so much per week for food and then petrol.we are 3 payments from the end and just about finding our way through the weeks .but i can admit somethimes you get low and are hard on yourself,i find the hard bit is we cant afford to go out ,but you do get used to finding a 50p icecream a huge treat!
Don't do food delivery as I prefer to go and pick the fresh stuff and see what has been reduced. We take a list and only ever put extra in if it's a BOGOF on stuff we usually use.
We do treat ourselves to an Indian sometimes!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
