Stepchange Budget Guidelines 2012

[lem]

I can't post the link as its a PDF document but if you just put in google' stepchange budget guidelines 2012', it's the first link at the top of the results

[Biscuits]

This may work ....

http://www.insolvency-practitioners.org ... 202012.doc

[pennieless]

thanks biscuits that worked a treat

[mole]

You may be told to "put down what you spend."

Don't... Put AT LEAST the maximum value of EVERY allowance.

[UpToMyNeckInIt]

Good advice mole: Your IP may smell a rat if you put down the 'maximum' guideline figure for everything.

Equally however, some of these allowances could perhaps be claimed, to off-set greater-than-guideline expenditure in other areas.

The IVA protocol makes reference to using either CCCS (Stepchange) guidelines, or the CFS (Common Financial Statement).

Anecdotally, I have heard that the CFS is more generous with its allowances. Is this true?

If so, why don't any IVA firms (that I've come across at least), use them?

Anyone know where we can see the CFS?

[lem]

I don't think we can access the CFS guidelines UTMNII, but yes I have heard that they are more generous and more closely follow the real cost of living, the cynic in me thinks creditors go by stepchange's guidelines so stepchange can then promote their 'free' service (as it frees more money up to be paid back) otherwise if they increased guidelines to what they really ought to be in the real world, then they would have to start charging for DMP's.

As it's creditors that dictate what allowances they find acceptable then they are going to go with the leanest budget they can get away with in my mind

[Mrsfaz]

If you use the guidelines for a review do you have to prove you have spent as much as that. I have overspent on some areas and underspent others. I would like to have as much allowed as possible in order to survive in a comfortable fashion.

Sorry first year, still working out how it all works!!

[Tina Shortland]

HI Mrsfaz - thats what this forum is for! WEll done on getting to the end of your first year.

You need to ensure your I&E reflects what you need. You've had the year to see how your new budget actually worked in out in practisze and you can discuss this with your IP if certain areas need ammending. You may have to show bank statements which will show some expenses. You would not normally have to show receipts for incidental costs but each company work differently. Ask what you need to produce for your review. You may have to show petrol receipts if your spend is high.

Good luck for your review, let us know how you get on.

[UpToMyNeckInIt]

Personally, I am going to claim in every possible area that applies to me - more than the guideline where applicable (I had to spend £700 on car repairs last Year, and £400 on a boiler repair). Sure, I've got to be honest, but equally, I do not keep track of some of the smaller out-of-pocket expenses eg: newspapers/magazines etc, nor do I ask my 4-Year-old for a receipt for his pocket money.

I am approaching my first annual review, and thus far my IVA company has been pretty unhelpful: I got a 4-line letter requiring that I complete a new I&E form, and send in the last 6-months payslips (which I don't have, being self-employed - granted I'll send them my accounts instead), and bank statements.

My new case officer's phone goes to voicemail EVERY time, and she never replies to emails (whenever I have sent in updated creditor statements etc).

This is a far cry from the assistance provided to me when signing up: The staff were very attentive. They bent over backwards to ensure I was claiming for everything in the CCCS guide and some, to minimise my IVA payment. (They even attempted to 'invent' fuel/servicing for my Wife's car - she does not drive. I put them right of course, and this category was changed to 'taxi fares/public transport').

Amazing how some of these firms are so helpful when they see a few grand coming their way when you are contemplating an IVA, and then seemingly couldn't give a fig, once you are trapped!!!

Point is, that if a customer in these circumstances is not on-the-ball, they could end up under-claiming expenditure, with their IVA payments going up significantly, if not properly scrutinised by their case officer. I wonder if this is the cause of so many problems? I bet many firms are willing to demand the higher payment without checking that closely.

If I 'claim' all my allowances, I technically spend more than I took home (on paper, thanks to a decent accountant), based on the latest available accounts. Well, if my case officer cannot be bothered to engage in a quick explanatory conversation (ie: to say that I can actually afford my IVA), I am going to do just that. Maybe it will prompt my IVA firm to getting of their backside, getting their case officer on the case!!!

(Sorry, rant over - I do wish with hindsight that I had signed up with a different firm though).