Also to add....
I don’t think bankruptcy is an option for me really, it will cost more to apply than a DFO and I guess I am still earning something, no matter how little and will be required what is left to make payments towards my debt for maybe 3 years? Which I have just over 3 years left of my iva, so I don’t think it makes much of a difference to me really. And I don’t think I qualify for finishing my IVA on a “funds paid to date” basis as it has only been two years.
Old expenditure
Total income £800
Total expenditure £600
Monthly surplus £200
Mobile phone £40
Board lodging £200
Hobbies/leisure £60
Housekeeping £125
Savings £50
Hairdressing £25
Clothing/footwear £30
Toiletries £25
Public transport £45
New expenditure
Mobile phone £75
Board lodging £300
Housekeeping £125
Toiletries £25
Hobbies/leisure £30
I have cut out many things from the old expenditure and as you can see, some months I can’t even afford that, and that’s not including any payplan payment. I do not have any assets, I don’t own my own home, don’t have a car, very few possessions. Most expensive thing I own is my laptop, which I need for my work, and my debt is less than £20,000 and as of now I don’t have more than £50 disposable income after all my expenses. My case workers first response to me, was that my new expenditure shows I have available £245 per month!! I emailed her back saying I have no idea where she got that figure from and are waiting her response. I can only assume she read the email wrong. My dad thinks however that they are trying to pull a fast one on me and to stick to my guns.
Also to make my case more complicated and in regards to claiming benefits, I do not qualify, and I cannot apply anyway as I am not in the country. Right before the pandemic, I went to Mexico for an intended vacation to visit friends, but then the pandemic happened, and I got stuck here. Fortunately, I can do my work anywhere in the world as long as I have my laptop and a wifi connection, but my work started to dry up like most people and I have been earning less and less. I did not want to fly back because of what is happening, not only that but I clearly cannot afford to fly back. I then had to go to the immigration office, and I managed to get a humanitarian visa based on humanitarian grounds, it expires in February, but my parents may be generous and help me to get home at Christmas.
But even if I were at my home address in England, I still would not qualify for any benefits as I still live with my parents, also you have to be earning £50 or less per week (I think), which even though I am earning very little, I still earn more that that, unless my income drops to £200….my income last month was £277. Upon returning home, I still won’t qualify as I will have been outside the country.
Before people say how can I afford a vacation, as you can see in my old plan, I was allowed to say £50 a month and thus I have been saving and so I treated myself to a vacation.
Anyway, if I qualify for a DRO, I might as well just let the IVA fail now as I know it takes a few months to fail and then upon my return home in the new year, I can submit a DRO application either with payplan or another debt charity.
What's your thoughts?
