www.iva.co.uk

Just a few questions on what I can expect during the 5 years if we are accepted:

Someone posted last night about any spare cash. I mean will we be allowed to have money to take the kids on small holidays or day trips? Eat out once in a while?
Does big brother monitor every move of your bank account? E.G if I sold some of my babies things on ebay to take the girls away for a rew days to Butlins, would that be allowed or would I get into serious trouble?

My work have offered me the chance to trade in my annual leave for a sum of about £2400 before tax. Is this allowed? Can I keep it? It is technically part of my salary that I am declaring, Or would I be better off not slaving away and taking the leave and continuing with IVA as normal?

I really want and need help, and I have really re-evaluated things in my life and feel I have now changed for the better, but the thought of presenting my children with beans on toast and a pack of playing cards for Christmas terrifies me.

No idea about the annual leave thing, I'm not allowed to do that, but I'm sure your prospective IP will be able to help with that.

As far as I am aware, I think you allowed to save money from your allowance for small treats. You are also allowed to save for emergencies.

As for Ebay, I use it all the time, although I don't transfer any money back to my bank account. I use my Paypal account to fund further purchases. I find this comes in useful for Christmas and have bought several presents off there in the past.

As for holidays, several people on here have been on the cheap Sun holidays and rate them. Also there was a thread on here last month about house swaps!

Hey Drowning Mummy,

Would think very carefully about trading leave for cash.... 5 years will seem like an eternity with no breaks and I'm sure your children would prefer having Mum around when they're off than sausages mixed in with those beans.... seriously, no leave will probably make you ill and your health is always more important than money...

If you agree a sensible budget with your IP you'll probably find it's not as bad as you're imagining...state clearly what you need to spend, ensure you have a contingency built in and allow an amount monthly towards the cost of birthdays, christmas and holidays - keep it realistic and your IP will support you, it's not in their or your creditors interests to make you have 5 years of suffering as the likely result would be IVA failure.

If you plan a realistic budget, then as Kallis says, you can choose to make additional economies where and when you can and set some asside for those unnexpected costs (they do arise - especially if you have a car!) In general you'll find a way that works for you, but you'll find it a lot easier if you don't sign up to an unrealistic starting budget....

Lots of threads and advice on here about hols....all good tips.... we stick with camping on small sites.... cheap as chips and if your lucky with the weather there's little to beat it.... Hotels in Barbados can be an incentive to think about for the end of the IVA though )))

Best wishes

Martin

Thank you, I'm allowed to cash my leave in because I have been on maternity leave (this is leave I accrued whilst on stat mat pay).

We are allowed to 'Buy' or 'Sell' holidays at work too, down to a minimum of 25 days and up to a max of 34. I just don't bother in the end and stick with what they give me based on length of service.

Absolutely fair enough then,

Best wishes

Martin

Don't have anything like that where I work. I get 34 days plus bank holidays and I am allowed to carry over a maximum of 5 days each year - never gets to that though as I never have any left!

If you don't trade your leave in drowning-mummy, will you be able to tag it onto this years?

Thanks Martin, Just saw your post.
I wouldnt be killing myself by trading it in as I return to work in September after a year off. I will still have 5 days left for the rest of the year if I cash it in, or I can use it all and do Sweet FA!

I'm returning part time as full time would not be viable with two young babies (only 3 days a week spent in the UK, the other 4+ spent in the USA, Africa or Asia). I just could not leave my babies that long, it would kill me.
I guess I am imagining that once we have bought food, there will be £0 left, so every other penny helps.
I unrealistically gave an approx figure of £250 pm for housekeeping. My hubbie nearly fell over he does the food shopping). We spend £100 pm just on nappies and milk!
Making a new detailed list out today, to give to Melanies team when they call. Or should I call them? Is that rude of me to jump the gun?

Not sure if I can tag. But as it is salary already earned (i.e. leave already accrued being converted into pay) and not a bonus or overtime, i would be disappointed if it were taken, but I guess thats life.

I wouldn't worry about your calling Melanie's team being seen as rude, they are hugely experienced and will completely understand your anxieties and with all the information, be able to advise you fully on how to make a proposal that will satisfy your creditors and ensure you have a resonable standard of living.

Not surprised your husband nearly fell over )....if you could get by on £250 as a couple with babies we'd all be popping round to have our tap water turned into wine and bread turned into lobster thermadore!!... We're a fam of four and our food/household allowance is £520.

Best of luck with your planning, as I said before, best to start off deciding what your actual cost of living is and break that down for Melanies team to assess - they will help you fine tune it and identify anything you might have missed...

Martin

It is great that you have your figures already worked out, but I also feel that your housekeeping budget is not realistic. Even the CCCS guidelines will allow between £293 and £445 for a family of four.

And ring us tomorrow if you want to - Tina will hopefully be available to take your call, and if she is not she will get back to you asap.

Just reading housekeeping budgets, we are a family of 6 and have a budget of £525. We are struggling a bit since the cost of food has gone up so much, just wondering how everyoneelse manages.

Sorry to hijack your thread Drowning Mummy and good luck with your call to Melanie tomorrow.

Kirsty

Actually we are a family of 5 as my step-daughter has lived with us since her mum and dad divorced, sorry I didnt include her! Been in the sunshine all afternoon so time to get cracking.

Try doing some online surveys as I do. Ok it takes up some time, but I earn enough during the year for vouchers and cash, and it does help

I tried that with Panelbase but they only ever send me one survey every 3 months, its the same one and after 15 mins of doing it, it says sorry, you are no help to us!