Help

[AndreaTurnb]

Hi
I've got my creditors meeting on the 5th. and like everyone else before their's I'm in a total panic.

My IP has been really good. I have a disabled son and he has increased our monthly outgoings so we have enough for him.

I'm worried the creditors will see this and want the money for themselves.

I'm not proud of myself for the mess I'm in I owe £42500. I spent most of this money on my son having private therapies which in the end none have worked, but I had to try.

My question is my IP has said, if I earn more than they've allowed I keep the first £50, but anything over that half goes to the creditors. I just want to make sure I've got this right.
Lets say I earn £500 extra. I keep £50 that leaves £450, my creditors get half of this £225 and I keep the other £225. Is this right.

I asked the IP to clarify this because if I need something for my son I will wrk overtime I don't mind paying the creditors half of it. But I'm not going to stressmyself out if they get it all.

Please help!

Andrea

[fletcherface]

MY IVA STATES THAT ANYTHING THAT WE EARN OVER OUR NET INCOME WE WILL PAY 50% OF THIS TO OUR CREDITORS SO YOURS MAYBE THE SAME

[AndreaTurnb]

Thanks

A big sigh of relief from me.

My brain won't stop asking questions I already know the answer too, it keeps confusing me and then I'm unsure of myself.

Sorry think I'm cracking under the strain.


Andrea

[fletcherface]

TELL ME ABOUT IT IM EXACTLY THE SAME YOUR HEAD IS JUST FULL OF IFS AND MAYBE.I HAD MY IVA ACCEPTED IN SEPTEMBER AND MY HEAD IS STILL BUZZING.

[AndreaTurnb]

Hi again

When In an IVA do you get a annual review, ie., so they can assess cost of living rises, salary etc. If yes, do you just send payslips and proof of increases, decreases etc.

What happens if I need to buy something big., ie., a washing machine or something like that. How do I do it when they haven't provisioned for general wear and tear.

Thanks in advance

Andrea

[fletcherface]

YES YOU GET AN ANNUAL REVIEW BUT EVERY THREE MONTHS WE HAVE TO SEND PAYSLIPS TO SEE IF WE HAVE MADE ANY EXTRA MONEY .AS FOR NEEDING TO BUY SOMETHING BIG IM NOT SURE BUT I THINK YOU MAY BE ABLE TO TAKE A PAYMENT BREAK AS LONG AS YOU MAKE SURE YOU PAY THE MISSED MONEY BACK BUT YOU WOULD NEED TO SPEAK WITH YOUR IP ABOUT THIS

[MAY2006]

Andrea
Do you get any DLA benefits for your son, if you do these must be kept separate and not included as part of your income.
My youngest son is registered disabled and we get middle rate DLA for him at £166.60 every 4 weeks, this was not included in the proposal as income as it is for his personal care not for bills etc.
Be strong your son needs his mum, Good luck for the 5th - I'm sure it will be fine, as others have said the IP's know what they are doing and would'nt put through a proposal they did'nt think would work.
Also if you have had to do a statement saying how you got into debt to go with your IVA proposal I did, the fact that what you spent was to try to help your son should help.

[AndreaTurnb]

Thank for your help

My life is unbearable at the moment and I'm hoping thats if this is approved I can start enjoying life with my children. I feel that my youngest who's 9 months hasn't had a mum as I'm forever thinking about money and my oldest who is 3 and has cp his daily physio etc have suffered greatly. I feel like such a bad mam that my children are suffering because I could'nt control my spending.

I've been reading the postings on here for a while and everyone just seems to try and make the best out of a bad situation. I hope I'll be one of use who has it approved and then I can get on with life, even if I have no money.

I must admit I've enjoyed having a bank account that isn't in the red for a change, even when there's only a couple of quid in it because I know it's mine.

Thanks again for your help



Andrea

[AndreaTurnb]

Hello May2006

Yes my son gets high rate DLA and they have taken that of me. However he gets high rate mobility in February and they are not going to touch that.

My IP has been great though even though they've taken his DLA of me, they have added it back on as an outgoing for trips to hospital, equipment etc.

Yes I did a statement had to tell them literally what I'd spent every penny on and the good thing is I had all my receipts which made it a lot easier.

Thanks again

Andrea

[MAY2006]

You are not a bad mam or a bad person lovey don't ever think that. You spend that money for your child, I don't even remember what I spent on it was a lifestyle thing, champagne gob and cleethorpes pockets thats me.
You are more important to your kids than any money in the world.
Some people have eating disorders, we have spending disorders - think of it that way.

[MAY2006]

I would definately query taking the DLA off you, its not your income its your childs.
The payment may go to you as his mother but the NI number is your childs and when DHSS write to you they address you as the carer not the receipient.

[AndreaTurnb]

Thanks May2006

I laughed then, haven't heard that in a while. I know I can't wait to be debt free and just spend playtime with them without having niggling worries in the back of my mind. I'll be a nervous wreck by Tuesday.

Husband and I are quitting smoking so I'll be healthy too, just need to get of the happy pills (what a joke, don;t thinks there's a pill strong enough), then my life will be easier.

I must admit my house is benefitting from my stress. I was out cleaning my garage out at 1am this morning cos I could'nt sleep, I've painted it as well though it was a bit of a mess this morning as could'nt see well in the dark.

I'm really worried that if the IVA isn't approved it's going to totally spoil christmas.

Luckily I have everyones presents in this year and I'll just have to budget the following christmas's.

Well I'm going to go to bed and read myself to sleep again or until I'm woken up by my little treasures.

Thanks for all your advice, I'll be back on tomorrow if I can as got work tomorrow night.

Andrea

[Dominic]

Andrea as long as you have been realistic and have not held everything back you will be fine.

[freelili]

Hi Anthea

Just wanted to say I know how you feel. I have two kids on high rate DLA. I was working part time and well paid and tried for IVA but lost my job. I am going bankrupt and have no assests. Its easy to say and I know not easy to do but please dont beat yourself up about your situation. You are facing your problems and that is a good thing. Your kids will still be young when this is all over and if you need a cry have one, let the stress out, we laugh when we are happy right? Believe me I do. You have had the courage to face your problems and you deserve a pat on the back. The next time you feel like a bad mom, think about this. There are many people in debt that are not facing up to it, you are. You are on your way to an honest and better life for your family.

Good luck

LILY

[iva experts]

Hello,

In my experience any DLA payment that is received must be noted as income. However in saying this if you are using the DLA payment to provide special equipment, food etc for your disabled child then be sure to make a provision for this in your monthly expenditure.

If the creditors can see that you are spending the DLA payment on your disabled child, then I can’t see them stopping you and taking this amount for themselves.

Remember though that your creditors are entitled to as much as you can physically pay them. If your situation changes and you receive more money I would advise that you contact your I.P just to be safe.


Hope this information is of use

Regards. IVA Experts