Can't Cope!

[darceydoo]

Hi

When my IVA went through in Oct 2010, I was on a good salary and my I&E reflected this. In December the campaign I was on ( I work as a manager in a call centre ) finished, however I was offered another campaign, but not at the same salary because of the nature of the campaign. After being unemployed for 18 months I was not in the position to turn work down so I accepted a job £10k less on my basic and a demotion of position. Not the ideal job, very bored, but it is a wage.

I thought I could manage on my decreased salary, but in April I lost my working tax credits as I earn over £17k, so I have I am down approx £990 net a month and I am really struggling. I still get my child care credits of £349 a month

I get paid on the 20th and my mortgage goes out which is £644, then nursery fees which is approx £270 then my council tax which is £110. So with the remainder I transfer into my savings account as I have to pay my secured loan of £487 and IVA (payplan) £370 on the 1st and other bills like car insurance, TV licence, home insurance etc etc so I am constantly moving money around waiting when I get my tax credits, then my salary then my child benefit and I just can't do it because on top of that I spend about £50 a week on diesel. It is the 27th June today, I have £376 of the £487 of my secured loan in my savings account, I get my child benefit tomorrow which will go into my savings account but I am still short of £31 and the DD is due on the 1st July. I have moved my IVA standing order from the 1st July to the 12th July because this is when I get my tax credits, but I will be short aswell

I have not told PayPlan of my decrease in salary because it only happened shortly after it was agreed. My electric bill is now £1,200, have not paid anything since January 2011, family have helped me out aswell buy I can't keep going to the bank of mum and dad. My mother is buying us food at the moment because I have no money at all to feed us.

I had a windfall from the Halifax for their SVR cockup so sent a chq to Payplan for £2,082, but I missed a payment because my car need £1,096 worth of repairs due to me being in an accident, so they agreed to take the June payment out of the windfall. My car tax is due the end of July and the MoT and to be honest I don't know what to do.

I am currently looking for a new job for the salary which I cam experienced for, just aswell because on Friday we were told that we MAY be at risk of being at risk of redundancy!!

Halifax have allowed me to pay interest only until December, even though I have told them I have not got the luxury to pay a cap & repayment mortgage, but they are going to review it.

If I tell PayPlan of my decrease in salary, will my IVA fail?? My original I&E is totally not what it is now, and instead of turning to a credit card, my family are now the recipients of my situation.

Fed up, if it was not for my daughter I would seriously just end it all, this is no life at all, at least my insurance policies would pay out and I could leave legacy of no debt!!

[Shining]

darceydoo, please speak to your IP and tell them of your changed circumstances, you should not be struggling like this. Life within the IVA isn't luxury but it's liveable.

Ask them for another I&E form and fill this in truthfully and accurately, they are here to help. We pay over windfalls but in times of trouble and difficulty they can help, they're not ogres and I'm sure something can be done to help makes things that bit easier for you.

There are variation meetings and an IP has the discretion to reduce payments by 15% without the need for a variation in most cases. Do talk to them and you'll soon be feeling better when things get easier and when you do find a new job your payments can increase again accordingly.

Please no more talk of ending it, your life is precious and your debt isn't worth that x

[MelanieGiles]

It is really essential that you keep your IP informed of changes in circumstances such as this. They are here to help you, and a temporary payment break can probably be arranged until you get back on your feet or find a better paid job.

[LizzyPayplan]

darceydoo please call us, or email me. We are here to help and we would most definately not want you struggling like this. Like you say, you cannot keep borrowing off your mum and dad and you can't keep living like this. If you want to email me then my email address is on my profile and I will go through everything with you.

[wantmylifeback]

Please please speak to your IP. I was in a similar situation to you. I became sick last year and discovered my son had lots of problems and I could no longer work full time. My salary groped massively, I went from being a full time office manager in a large corporation on London to working 12 hours a week in Saindburys. We confined on for 6 months keeping up our payments by selling everything on eBay and boot sales and having no life. We spoke to our IP and were able to reduce our payments by 15%, no questions asked. Perhaps you could get a payment break until you find your feet or at least reduce your payments a bit. I know how deeply upsetting it is and really feel for you, am still trying to find my feet now but please don't struggle without telling your IP, they should be able to help even a bit is better than nothing. Keep your chin up.

[darceydoo]

Hi everyone

Thank you for your advice, I just feel so stupid and inadequate for not being able to provide for my daughter, I am 44 years old for christ sakes, and I know she would be better provided for if I was not around. I have car booted everything I can, that money goes straight into my bank to make up any shortfall and there is always a short fall. Lizzy thank you for your offer I will email from work today. I just feel that the creditors will say 'tough' pay us, as they were not very understanding when they were calling me day and night in 2009 - 2010, ended up on anti depressants in the end because of it. You are right, my Mum and Dad are not an endless bank aco****s, they are now retired and I am eating into their savings and I feel very very low about it all, not even a year and I am struggling. Will email Lizzy and see what can be done. Thanks again xxx

[MrsKnight]

Hi darcydoo,

I'm so sorry to read of your troubles & I totally understand depression & anxiety as I'm still recovering from another episode. Please make sure you email lizzy, they will help you & there will be a solution to your problems. Lizzy & your IP are there to help & support you through the IVA & 5 years is along time to not expect hiccups or crisises along the way. Your creditors will not want to squeeze every penny from you as you will just not make it the end.
I know how it is to struggle in a IVA as it's how I set off in my own personal journey with my husband & 2 boys. When things are this bad it feels like you are being punished & should be punished for your debts, but that is just the total opposite to how a IVA works. It's not ment to be a walk in the park, but it's ment to be affordable & comfortable.

I wish you lots of luck n hugs, let us know how u get on xxx

[Car1e]

Darceydoo you are not stupid or inadequate. You are simply trying to do the very best that you can. It takes bravery to admit that you cannot deal with everything yourself and I hope that you get it sorted out. I have noticed a lot of posts where people seem almost scared to approach their IP or perhaps are sometimes not certain that they should even be bothering them. I guess if you think it's important and it's worrying you then of course it's a valid question. I wish you luck x