I have re posted this here to see if it gets a bit more traffic.
Hi all,
I am currently trying to put forward a case to pay my IVA off early. I currently live with my girlfriend and her family. Our relationship has been deteriorating since my IVA started 18 months ago and is now at the point where she has had enough and is threatening to leave me. She has though offered to loan me some money to pay the IVA off and make a fresh start. I have explained the situation to my IP and they said that I have a reasonable case because if our relationship ends and I become homeless (my family live abroad) I would have very little money after paying rent & bills etc.
I would really appreciate your opinions on the budget I have prepared should the above happen and I have to rent my own place. I will put my current budget in for reference (this was the original budget agreed at the start of my IVA in October 08).
Current Expenditure
Board £240
Bills Contribution £75
Car tax £15
Car Insurance £40
Dental £10
Mobile phone bill £40
Car maintenance £30
Petrol £175
Breakdown £4
Food & toiletries £180
Other £10
Sports £15
Work meals £20
Hairdressers £5
Prescriptions £5
Clothes £25
Total £889
Revised Budget
Rent £380
Council tax £60
Water £20
Electricity £50
TV license £10
Gas £50
Phone/broadband £40
Car tax £15
Car Insurance £40
Dental £10
Mobile phone bill £40
Car maintenance £30
Petrol £190
Breakdown £4
Food & toiletries £200
Other £10
Sports £15
Work meals £20
Hairdressers £5
Prescriptions £5
Clothes £50
Total £1244
It is worth noting that when my IVA started I had a monthly take home income of £1150 which has now risen to £1400. I have never lived on my own before so am unsure if the figures I have put in for things like gas and electric are reasonable. The rent I have allowed for would be for a small apartment but not a dump.
My payments are 302 per month, currently I am paying 344 because I am in arrears (2.7 months) and will do so until the end of the year. I have now payed roughly 5k of the original 18k IVA.
But you are only showing a DI of £156 - so how are you affording to make the repayments at present, and what sort of sum can your girlfriend provide you with?
MelanieGiles wrote:
But you are only showing a DI of £156 - so how are you affording to make the repayments at present, and what sort of sum can your girlfriend provide you with?
That DI is for his estimated revised budget should he have to move out/live alone Mel[;)](you burning the candle at both ends again???)
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I am still living at my gf's house, the proposed budget would be if I were to move out. I am trying to make the creditors see that if that happens the IVA is likely to fail. She can currently only get 9k which hopefully given the circumstances there is a chance of the creditors accepting.
How much were your total debts to start with?? I know you mention an 18k IVA but is that your total debt figure or what you expected to pay over 60 months??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi all, thanks for input so far. I sent my settlement offer to BE on monday so hopefully will hear something next week, only managed to get hold of £9,200 which I know isnt that close to actual sum owed but it's got to be worth a try!
Having sent my letter in over a week ago I havent yet heard anything from BE. I have emailed my account manager just asking if he has recieved it but still no response. I know these things take time but yet again BE fail to respond to any correspondence. Has anybody else found this to be the case with Blair Endersby?
Alternatively, BE do monitor the forum and hopefully they will pick up on this.
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
Hi Stu, I'm with BE and had trouble at start of my IVA to talk to someone. I posted a question similar to yours and BE posted asking me to call IP. I'd only ever spoken to an account manager. Since then they have been more than helpful. I also sent them an email at that time. Ask for an IP when you contact them. It worked for me. They have been very efficient since and always happy to help.
IVA started Sept 09. Glad to be on the way to being debt free
