We're seriously considering an IVA but are really worried about the income and expenditure.
When we done a budget planner the CAB took into consideration a monthly figure for birthdays / Christmas's but from what I can see no one has been allowed that.
How will we cope with not having extra money for the kids birthday and Christmas??
Unfortunately you won't be allowed anything for Christmas or Birthdays, you would have to make savings from your other allowances.
You could also do what I did, and still do, are online surveys.
Speak to one or two other companies for some advice. Andy Davie/Vincent Bond can be contacted via the Ask Experts link on the left hand side of the page and speak to them for some free information.
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
As Kallis says, you learn to budget out of other things. I used to (and still do) save loyalty points to cash in at Christmas for the extra food and online surveys gets me around £100 a year, again, cashed in at Christmas for High Street vouchers.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My online surveys fund Christmas vouchers for the whole family so it's a very frugal one for me and I also save Tesco points and Nectar points for Christmas food and drink.
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
If you exercise get a Bounts account for every 2778 points you get a £10 shopping voucher from a shop of your choice. I've earnt £50 since February 2016. I also save morrisons points for Christmas
There are so many survey sites - one of mine is owing me £70 in vouchers so far this year.
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
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
Thanks so much. Feeling very daunted by the whole prospect. I think the iva is the right route for us, the right restrictions just worry us and how well pay for the kids things. Especially uniforms! School fees, swimming lessons etc
You should be allowed stuff for kids uniforms etc - just make sure you sort this out from day one!
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
My best advice would be to ensure you're happy with your income and expenditure form before proceeding. When I went through my IVA my daughter was coming to the end of her school life and had a part-time job which helped. I can only imagine how difficult it is with little ones. All the best.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
