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Jessie91

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Post by Jessie91 » Tue Jul 30, 2019 1:22 pm
Hi everyone sorry to bombard you today with questions. After my welcome call they mention when it hits a year they would want 6 months wage slips and bank statements which I’m totally fine with.
But I’m planning to on my pay day every month to take most of my wage out in cash and label in envelopes for bills/food shop etc (idea given from this group) and leave only the direct debits money I have in there.
Will creditfix ask why I’ve taken out all my money when they look at my bank statements and see I’ve done this and question this?
As I don’t really want to do this is if it’s not allowed or creditfix get funny with me because of it.

Foggy

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Post by Foggy » Tue Jul 30, 2019 1:30 pm
I doubt they will get funny. If they ask, just say it is your way of budgetting. On the reviews their main focus will be on income and they will be checking that the DD's for essential living tally with your stated expenses.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Tue Jul 30, 2019 1:36 pm
I agree with Foggy. We took our money out weekly for our shopping.
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

Jessie91

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Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Tue Jul 30, 2019 1:37 pm
That’s okay then thank you.
As I have pay pre meters for gas and electric and they know that so that’s cash only at my co op. Usually I do food shop with my card but I’m trying not to if possible and use cash and try budgeting that way. The only direct debits I’ll have is creditfix, southern water, contract phone and tv license and council tax. Rent comes out of husbands which they have statements for that.
I think once I’ve managed a year and the first review is done I’ll be more aware and know what happens on future ones.

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Wed Jul 31, 2019 5:19 pm
I have just done my 2nd review with credit fix. Both times they have just sent back carrying on paying as you are. And I move money between 2 accounts and take alot out cash. As long as you sticking to payments and not asking for too much on things. They just leave you be.

Jessie91

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Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Wed Jul 31, 2019 5:43 pm
Brilliant thank you for your reply and letting me know. The first review will be a year am I right? Then 6 months wage slips and bank statements from then

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Wed Jul 31, 2019 5:46 pm
Usually. They email and send income and expenture form. And can fill in and take pics of details and email them over to the review team and in about a week got email saying thank you have done your review payments stay the same.

So they do leave you alone and if get paided weekly can ask them to take money weekly instead of monthly.

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Wed Jul 31, 2019 5:52 pm
Don't worry. About review stage. When it gets here now that bad. Just put statements and wage slips in one place. And when get email and texted me to say was review time. And sent a letter. I just took photos of them and emailed over. So not very hard and if struggle with payments always ring them can lower by a percentage without going back to creditors if find the first year hard. Like I did as split up the end of my first year so things changed and payment was lowered as much as could before going back to creditors.

Jessie91

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Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Wed Jul 31, 2019 6:12 pm
Brilliant thank you for all this information really helps will definitely keep everything safe in one place under lock and key 😂
How have you been doing keeping in budget of things monthly?

katana2471

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Post by katana2471 » Wed Jul 31, 2019 8:01 pm
Nearly on my 3rd year
I usually take cash out and use my card
To do shopping
Etc
I just about get through the month with very little left
And can't afford to save in case of emergency.
So 3 years to go
Can't come quick enough.
Good luck

Jessie91

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Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Fri Aug 02, 2019 7:39 am
Well done for getting half way through that’s amazing how have you been finding it?
Definitely will be a learning curve for me to learn to budget without the plastic 😂

Foggy

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Post by Foggy » Fri Aug 02, 2019 8:47 am
Fri Aug 02, 2019 7:39 amJessie91 wrote:
Well done for getting half way through that’s amazing how have you been finding it?
Definitely will be a learning curve for me to learn to budget without the plastic 😂
It is a steep learning curve and the better you can become acquainted with the terms of the agreement, the better the experience will be. It quickly settles into the normal way of life and, I found, living on my IVA budget was a lot easier and less stressful than juggling credit cards. 6 - odd years post completion and I still use the same, slightly tweaked, budget !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Jessie91

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Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Fri Aug 02, 2019 9:00 am
Oh wow that’s amazing, I guess 5:6 years in a iva is a very long time and just comes second nature when budgeting after doing it so long. That’s a really great way to carry on living that way with the occasional treat I hope for yourself.

kallis3

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Post by kallis3 » Fri Aug 02, 2019 9:05 am
I looked on it as a loan which would be paid off at the end of the term.
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

Jessie91

Posts: 164
Joined: Fri Jul 19, 2019 12:47 pm

Post by Jessie91 » Fri Aug 02, 2019 10:33 am
I was told this before look at it like a 5 year loan which I think is a easier way of looking at it, and for me I did have a 5 year loan so sounds a lot easier in my mind when I go through it all go say right this iva is a 5 year loan repay every month and your be fine at the end of it
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