Due to the continuous increase in the cost of living - fuel, insurance, council tax, gas electricity, etc, I just couldn't survive with the IVA monthly payment I make, so decided to do some belt tightening. Cancelled sky TV, went to 3rd party only insurance, no more swimming at the local rec, walk everywhere now - no buses, driving, etc. Saved a total of £80 per month but made a big mistake by being stupidly honest and declaring these savings on my income/expenditure review. My IVA monthly payment went up by £80 leaving me even worse off than I was before! If the local library service wasn't free I'd be doing nothing but staring into space in my free time.
Can anyone tell me why the IVA company doesn't seem to take into account the huge increases in living costs, and reduce monthly payments accordingly?
~Doesn't seem fair does it? Did you put down increased values for the expenditure that has risen as that should have offset the £80 saving or nearly I would have thought?
A good IP will recognise that utilities and daily living is ever increasing it may be time to talk directly to your IP if you're struggling as although we're not living the life of Riley we're certainly not struggling without anything.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Wow Malandal you really are belt tightening. Some "luxuries" are needed to keep you sane! Everything has gone up so you must reflect that in your I & E. How far in are you? Surely you can't carry on like that?
I agree this is not fair. You are entitled to your allowances and it is up to you what you spend them on.
As Dee says some things you just need otherwise you would get stressed, depressed and become ill, take time off work and ultimately an IVA could fail.
As most of us can't afford to go out and do stuff that costs (Pub, Cinema, Restaurants etc) we need TV as entertainment.
That said given the recent increases in Food, Electric, Gas, Insurance, Transport I'm forking out this year I would expect about an extra £350. This is not taking into account the increases in the last nearly 3 years which at a conservative figure probablt amount to £200 a year.
So since I started IVA I reckon monthly costs have gone up by at least £60 and the stupid guidelines written by a 'Charity' (CCCS) are not in the real World.
1st payment Oct 2008, last payment Dec 2013. Certificate received March 2015 due to PPI claim.
