Smoking

[Helhan]

Would creditors allow anything for "hobbies" such as membership of a club or a gym?
I read on another post that someone had been reminded to put smoking down as an expense. I find it hard to believe that creditors would allow a "luxury" such as this, when some people report they are not allowed to keep money aside for kids' swimming lessons.
I continue to be unsure as to what a "reasonable" expense would be. There seems to be such a variation.
Helhan

[kezza]

I agree, that is the 1st i've heard about smoking as an expense!!

[Hunter1]

I've got my membership as an expense but only as part of general expenditure. I didn't list it seperately.

I would feel very miffed if it's questioned as it's used mainly for swimming with my young son and I'm not giving that up for anything.

[aguise]

Expenditure seems to vary so much from one person to another, gym membership could be for health reasons rather than a luxury, though you could say excercise does not have to be done in a gym, maybe it just depends on the decision maker for the creditor, maybe if they smoke they are more sympathetic or if they go to the gym then they allow it. It all gets confusing and seems unfair when one is allowed and another is not.

Ang

[MelanieGiles]

Some creditors will allow smoking, but the general view is not. Others will allow gym membership, others will not. My past and current experience tells me that creditors are getting much stricter on what they will see as reasonable, and anyone entering into an IVA must be really sure that they can afford to make the repayments required - which may involve giving up some "luxuries".

Unfortunately, if you are in debt and you wish for some of that to be written off, creditors will expect you to make some lifestyle sacrifices. The same rules apply under bankruptcy proceedings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
I have to agree with Melanie on this one.
If you want a large part of your debt written off then you must expect to live a fairly spartan life for five years.
In the end it is worth it.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[Oliver]

Many creditors will allow a amount as a "other" budget (usually c£50) if people choose to use this as a smoking / gym budget then this up to them.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp