www.iva.co.uk

Hi All,
Sorry if this question has already been asked hundreds of times...

We are into our 2nd year of an IVA, the 1st year being new to this and not fully understanding our Outgoings and expenditure was not accurate at all.

I am now re-doing this and being more realistic (we have 2 kids, and life is so expensive!).

Can i please ask, apart from the normal items you would put on this list such as food, cars, petrol, etc

Are you allowed to put a holiday fund? I don't mean disney world or the bahamas but literally funds to take our kids to the seaside for a week in the summer.

What about items such as - Kids birthday's, Xmas, kids go to a birthday party need to buy a present, want to take the kids on a day trip to the Zoo.

What about the general wear and tear and upkeep of your house? such as plants in the garden, new oven (our's blew up last month and we used my parents Argos card for a new one), painting/decorating, etc.

The point i am trying to make is - are all of the above classified as Extravagant items! and you got yourself into this mess, times for you and your kids are going to be bad for the next 5 years or so ??

Many Thanks
Steve

Hi - they are all 'extravagant' items and I don't think they'll be allowed. Payment breaks are allowed for house repairs which impact on your well-being such as boilers blowing up. You should be claiming for a contingency fund (usually £50), newspapers, dry cleaning, a small entertainment allowance, prescriptions, pet food and insurance if you have pets, school lunches for the kids and work lunches for you, hairdressing etc...

BOL is correct, holidays and presents etc will not be allowed, I doubt you can claim for plants either.

If you can save money from your other allowances then you can spend these on what you want.

lovely, thanks for the reply

This IVA is doing my head in, i think if i had a couple of 1K pedigree dogs and the best insurance for them, grooming costs and the best food so they win at Crufts, I would get more compassion from IPA's and Creditors than living in the real world with a 2.4 children.

I know that is hypothetical but you wouldn't be allowed grooming costs or the most expensive food going unless you could fund it yourself. Some people have a smoking allowance whereas others don't.