In my expenditure I have an allowance of £40 a month for hobbies and leisure (inc. pubs/outings, gym etc). This is to cover a family of two adults and two teenagers.
Obviously, I don't expect to be able to eat out every night or take the family to the cinema every week or even go to the theatre once a month but in reality £40 doesn't even cover our outgoings on the kids activities. I can't remember the last time my wife and I went out on own together.
So, what is the consensus? Is £40 a reasonable amount?
Not enough, that is 3rd world standards. Everyone deserves a treat and 5 years of that is not good for anyone. Those poor teenagers have massive ongoing needs. I don't know what the answer is as I'm quite an new IVA'er but I would contact your IP and say this is a sub human existence.
Hi, I think that is what I probably had if I remember rightly. I only had one teenage child when in an IVA and luckily she had a Saturday job so was pretty self-sufficient. My nights out came from saving oddments and when I had £15 we went for a 2 4 £10 meal at the local pub with a drink. I agree you need to have a life within an IVA as it is a long journey and all too often it's the children the IVA has an impact on before us.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
The Stepchange Budget Guidelines do provide for little luxuries such as: hobbies, hairdressing, pocket money, newspapers/magazines etc. They can be found here (just copy and paste this link into your browser):
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
I’m 40months into my IVA so I know the score – I don’t expect to be having a ball – but it does still surprise me that expenditure allowances seem to vary so much depending on the IVA company.
Well done on getting so far scoobydooby.
I have sold things at a car boot and on gumtree to earn a little bit extra money. I know alot of other people use ebay also to help buy little extras. Its amazing how the things we dont want can be valuable to others.
Good luck.
Cm x
There is clearly disparity between IP firms as to what clients should pay. I just interviewed someone who had been told they would have to pay £250 per month yet I found she was losing oevr £600 per month!
She had been advised to go to the other IP firm by creditors and she told me she thought she had to because it was 'run by the government'!!
Claire – it is good be over half way, but it’s depressing that I used to think it would all be wrapped up in 2015 whereas it is more than likely have to continue with the IVA for a 6th year as that seems to par for the course. Selling stuff on eBay/Gumtree is certainly sound advice but to be honest I’ve pretty much stripped the cupboards bare already.
Michael – it just seems odd that IVAs, with all the legal stuff that accompanies them, exist without much firmer expenditure guidelines. I sometimes get the impression that IPs just make it up as they go along.
Last edited by scoobydooby on Tue Sep 03, 2013 1:50 pm, edited 1 time in total.
What is an allowance for hobbies and leisure? That did not feature anyhwere for me in six years of an IVA. You are very lucky to have that incuded in your I and E, I think. But I also agree that, once it is included, you can't do much for a family of 4 on £40.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
