token payments or not?

[freelili]

It really is individual and should be what you spend but some things can be forgotten, I think Skippy has a list on the blogg. Incidentals like prescriptions, hair dressing, dentists etc.

[indebtforever]

ok i will show you mine everyones will be different as ip`s differ as to what can be included in some cases but as people add to the conversation we will get a better picture
mortgage
secured loan
council tax
water rates
home insurance
life insurance
iva insurance
washer insurance
other utility insurance
sky tv
internet
electric
gas
other fuel(coal)
house keeping,clothing(bigger the better set guide lines)
tv licence
telephone
mobile contract
petrol
car insurance
road tax
car maintenance
medical/dental/optical
dog food
british gas homecare insurance
public transport
smoking
contingency allowance

its all well and good leaving no stone unturned to be able to live but at the end of the day the dividend we offer has to benefit the creditors or they will never accept its whats called a fine balancing act[}:)]

some of these were not on from the start as i have had wage increases over the years i have asked for them to be added at review time like iva insurance as this benefits both partys if i come out of work they get their money.

[siorghra]

I too was wondering about making token payments. From the stories here, it seems it doesn't make a button of difference to the creditors.

[MelanieGiles]

It doesn't really - but it might stop the calls and letters to a degree.

[size5]

Traditionally I have worked out a rough pro rata payment to give to creditors based on the available disposable income, mostly because I find it a good tool in learning to budget properly again after what is usually a long period of denial/robbing peter to pay paul. However, I am now erring towards much lesser or no payments at all in order to allow a "flying start" so to speak, generally at a new bank with new d/d's etc.

Regards.

[james.c]

for what its woth i would not pay them token payments, instead use this money to put to one side as a back up if you need extra money when in an IVA, it will make no difference to your creditors with regards to how the creditors vote, at the end of the day token payments is not a full amount so they will still probably chase you for the full amount

[Soulgrowth]

I would agree with James ... you really need to use this opportunity to build up some kind of contigency fund so that you have something to fall back on in the future.

Debbie