Mark. If you have an overpayment of tax credits surely this should have been included in your IVA. Did the tax credit overpayment arise after the IVA was approved or before?
The overpayment was for last year. Our IVA was approved on the 26th March. The overpayment was discovered in May this year when the renewal forms went in. Due to this it was effectively after the approval so cannot be included.
We don't get child tax credits anyway.....appartantley we earn to much, however mosty of what I earn goes on nursery fees @ £600 per month (and I only work part time!!!) We both work in the public sector so I guess no pay rise for either of us for 2 years.....and no raise on family allowence and of course the raise in VAT to 20%!!! What about the fat cat bankers who got the country into the mess its in, where are their pay freeze and bonus cuts??? Somtimes I think we would be better of if we both finished work and lived off benifits......after all they can always afford a 50" plasma, full sky package, to smoke and drink beer each night, all they have to do to get a pay rise is to produce another child!!! But there again I may be in debt (which is my own fault)but at least I can have pride in myself for going out to work and paying as much back as I can.....and in 5 years time we can start out lives again...debt free with a hard lesson learnt......and of course a b***** good holiday[;)]
I totally feel n understand your rant Kaza! The benefit hoppers so seem to lead better lives than us working folk!
I blame the banks n all the political parties that have ran this country past & present, it did not just appear because of "one" person or party, - it had to start somewhere!
Hope you get sorted on you review Kaza n sorry you have to wait for one (mentioned in a post), stick to it n dont budge on what your I&E should be x
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
Thanks Mrs Knight.....I will really need to make sure next years I&E is correct it would be nice to have enought £ to eat all month lol.
On the plus side I was feeling a bit down about the situation the other day so I had a quick look at last years I & E (proir to IVA) and our outgoings were £600 more than our income, hence why we needed the IVA, it made me feel a whole lot better, after all this year will be the first year in approx 8 years where we have not increased our debt, but made positive steps to get out and stay out of debt, roll on 4 years (and a bit) time when we have decided we are going to treat ourselves to a great holiday in Florida visiting mickey & friends.......of course not a credit card in site[;)]
Personally I don't think it was too bad a budget at all. No duty on fags (doesn't bother me), booze, or fuel. Tax free allowance has gone up by £1000 giving us an extra £200 per year (not a lot but thankful for small mercy's) The working tax credits - no change for us there (we don't earn 40k a year between us) ok there's the 20% VAT but general day to day living doesn't really include vast amounts of VAT, a lot of food stuffs are VAT free, ok all your electrical items and the like will go up but it isn't like you buy them every week is it? We all had a 2.5% reduction recently well this is a bit of payback but on a more permanent basis.
I'm glad to see the reduction in a lot of benefit allowances. I have no problem with there being support for people who physically CAN'T work or people who are genuinely looking hard for work. However for far too long this country has supported those who don't want or refuse to work, why should everyone else work to support those who won't? It's wrong and I'm hoping today's budget will see an eventual end of the 'claim what you can' culture so prevalent in this country. If you want nice things WORK for them!
Hi Kaza - your welcome hun, I know its hard n dont know how we got through the first or half way through the 2nd year of our IVA. We too were struggling with a I&E set way below any kind of living standard n were just about ready for BR.
But a good standard payrise came along n we were able to go ahead with a review - well before a review was due n managed to keep it all, some of our I&E should of not been allowed to of been set so low n we should not of agreed to it. Looking back on how we were living b4 the IVA - our debt would of doubled or we would of run out of card options! So Im quite happy now - good luck Kaza remember we are here to help x
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
Wow, this topic has generated quite a bit of interest, not suprising I suppose, as a budget affects everyone. Now it's been made public, from a personal point of view, not too bad for us. I am so glad to see they are scrapping Child Tax Credit for households earning over 40k and not 30k (huge amount of nimbyism there I know), but I do feel for those that will be negatively affecte. As others have mentioned, the budget probably wont have too much of a negative effect on most of us in an IVA, from first viewing, the VAT increase really will only have a big effect on big-ticket purchases, which probably wont affect all that many on an IVA by definition.
All in all, it could have been a lot worse,
Gabba
The man that walks towards the sun sees no shadow.
I agree it could have been a lot worse and have only read it briefly, must read it properly as I'm interested to read if adult education funding has been cut? anyone know? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I to think it was a good budget, it could of been alot worse, just like us the country needs the debt problem solving, lets face it it was left in a hugh mess.
Hi,
Can I just say that when I worked two jobs I thought people on benefits had it easy (some do, I'm sure). I had a disabled child four years after we bought our house and kept working as a single mum (split from her dad when she was 11 months old) until she was six and my mum couldn't babysit anymore as she had open heart surgery. No child minder would take my daughter. Please don't lump us altogether as scroungers. Sometimes life just throws you something you could never prepare for. I work harder now than when I had two jobs. I'm proud that I have kept our mortgage and and my daughter has a stable life.
Rant over!
IVA started Sept 09. Glad to be on the way to being debt free
I agree deb. As I've said before people who genuinely need help are unfortunately tarred with the same brush as the scroungers who view claiming benefits as a profession.
People who really need benefits should get everything they need, while the ones who choose that lifestyle should get nothing.
Feel free to rant - after watching my parents struggle for years it's something I feel strongly about.
Thanks Skippy!! It is a struggle. I'm sorry your parents had to go through it. Hope they are sorted now.
I'm sure your parents grew very tired of people assuming everyone on benefits does it through choice. I'd happily go back to work if I could.
Cheers,
Deb
IVA started Sept 09. Glad to be on the way to being debt free
My dad had MS and my mum gave up work to look after him. This was 30 years ago, but I can still remember that it was a struggle and they both hated asking for help. My mum still feels guilty that the house was adapted for him!
The worst part was that everytime mum applied for a benefit the equivalent was taken from my dad so in the end they stopped applying and made do with what they had.
That's why I get so angry now when you see people proudly announcing that they get X amount from the state (often more than I take home for working full time) but it's still not enough.
Hi Skippy,
It seems this country is made for people who just go straight onto benefit after school, get pregnant and surprise surprise, a house or flat.
I'm sorry about your parents. It is so wrong. I know what you mean about your mum not wanting to ask for benefits. It does feel strange. You are made to feel that you begging. But they'd paid their taxes for long enough.
Must have been a tough time for you all. I hope it gets easier.
deb
IVA started Sept 09. Glad to be on the way to being debt free
