font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by katana2471
Well after paying for my rent and all bills etc gas and electric
What is an average people live on
I don't think I could get food and petrol for £300 a month
I still live on my IVA budget and get food and petrol for me and my son for about £250 a month, sometimes less.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If you cannot afford the proposed payments you should either speak to another IP or look at another option. Five years is a long time if you already have concerns about affordability.
I would need at least £450 a month for food and petrol for a month after paying everything out..
Is this possible.
Or should I carry on struggling making my own payments to my creditors.?
As I don't get much left after doing so..
Iva or not..??? HELP
My allowances were agreed 6 years ago now, when we were a couple with a young child. We were allowed £406 food shopping and £50 petrol each month as well as many other allowances ( papers (yes £5 a month for newspapers!), haircuts (bald as a billiard ball, but the ex's took my share), car repairs (modest and unrealistic), tax & insurance --- and all other essential spending.
Basically the I&E should be worked out so that all essentials are covered and what is left goes into the IVA. You really need to run through a budget with a couple of firms before you can make any decision.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Yes I agree with Foggy. Your needs won't be the same as everyone else's. For example my petrol allowance was £450 per month from the outset and food allowance started at around £500 and in the last year was £618 (family of 5 inc 4 adult and 1 large eater). The important thing is to get it right from the start so please make sure you speak to more than 1 company. Good luck!
Just make a list of everything you spend and if an IP company doesn't agree with it they will tell you. You can even have an allowance for Sky and meals at work.
As stated - speak to a couple of companies. Vincent Bond (details under the ask experts a question link on the left hand side of the page) can be contacted for some free advice.
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
There are a set of guiidelines which list things you may not think about while being low on other items. However overall the most important thing is affordability and not how you spend your money. Drop me an email if you want a copy of the guidelines and this will help you determine what you would be expected to pay.
