Setting up an IVA

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mumof3
Posts: 7
by mumof3 » Thu Nov 30, 2017 7:50 pm
Foggy wrote:
Guideline MAX figure in red

Mortgage - £414 what it is
Other secured loans (help to buy) - £38 what it is
Ground rent and service charges - £5 what it is
Council Tax - £138 This might well be made a creditor
Gas - £30 what it is
Electricity - £50 what it is
Water - £35 what it is
TV Licence - £13 what it is
Buildings and contents Insurance - £21 might be refused
Life Insurance - £30 might be refused
Repairs and Maintenance - £30 might be refused
Food, toiletires and cleaning - £500 [color=#FF0000 2 adults & 3 kids £612[/color]
Clothing and footwear - £95 2 adults & 3 kids £93
Meals at work - £40 £42 per adult
Sport, Hobbies and entertainment - £70 2 adults & 3 kids £71
Sundries and emergencies - £58 2 adults & 3 kids £83
Dentist/Opticians - £28 2 adults £28
Medicines/Prescriptions - £22 2 adults £22
Fuel and Parking - £120 £200 per car
Spares and servicing - £15 £30 per car
Telephone, mobile and internet - £59 2 adults & 3 kids £77
Pets, pet food and insurance - £20 £34
Hairdressing - £40 2 adults 3 kids £45
Childrens pocket money - £30 £36 for the three
School trips and acitivites - £21 £21 for the three
Road tax - £25 What it is
Vehicle Insurance - £49 what it is
Vehicle breakdown cover - £17 might be refused
Childcare - £20 what it is
Life insurance - £30 Might be refused (and duplicated above)


Thank you
council tax is not a creditor as we have always paid this, no missed payments.

If they refuse life insurance etc, I can still continue to pay for this but just pull it out of something else from my budget?
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Foggy
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by Foggy » Thu Nov 30, 2017 8:03 pm
Council tax has been deemed a debt by the courts, although a few firms do not include it ( I know not which) -- see what-should-i-say-to-council-about-them-not-wishing-to-participate-in-iva-f145-t83989

Yes, you can pay unincluded expenses by sacrificing others, although this should be kept to yourself. Many figures are massaged, but not spoken about.

They might try to limit some items, even within guidelines. The figure quoted over the phone often changes when all the papwerwork is gathered in and you will not see the real potential IVA payment until you get the draft proposal to sign. Even then the creditors might challenge / reduce some of them. If they do you will be contacted by phone to agree the new figures at the time of the meeting.
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