Using cash in an IVA

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tom535

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Post by tom535 » Sun Mar 01, 2020 5:44 pm
Do I have to spend money using my debit card? I find managing my expenses easier when I take lump sum out from the cash point on my payday. I o my have direct debits set up for my bills but I pay for everything else in cash. Will this be a problem during my first annual review with Payplan? Please advise.

kallis3

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Post by kallis3 » Sun Mar 01, 2020 5:47 pm
Shouldn't be a problem. We used cash for our weekly spending.
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

tom535

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Post by tom535 » Sun Mar 01, 2020 5:50 pm
Sun Mar 01, 2020 5:47 pmkallis3 wrote:
Shouldn't be a problem. We used cash for our weekly spending.
Thank you for your answer.
I’m a bit scared of my first review

Foggy

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Post by Foggy » Sun Mar 01, 2020 6:01 pm
I suppose for the first year of my IVA I did exactly that .... I was afraid to use a debit card as being too similar to a credit card from the point of view of distancing myself from 'real money'. I wanted to re-connect with the folding stuff and shrapnel ! Eventually I moved on to using the debit card --- but, even then I had two bank accounts --- one where my salary was paid and bills and DDs came out of and the other was spending money ... household stuff, petrol and food ... which was deposited there in a lump sum just after payday each month.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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tom535

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Post by tom535 » Sun Mar 01, 2020 6:05 pm
Thank you

abbiesmum2003

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Post by abbiesmum2003 » Sun Mar 01, 2020 7:01 pm
Many of us used cash during IVA especially the early days as it helps budget and staying within limits. Easy to over spend when using debit card.
They wont be looking at your spending with fine tooth comb. As long as youre staying within allowances and meeting the payments and not hiding overtime/windfalls youll be ok.
If you dont spend all your allowances the spare is yours (as long as you arent saving ££££).

tom535

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Post by tom535 » Sun Mar 01, 2020 8:32 pm
Thank you very much

Jessie91

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Post by Jessie91 » Mon Mar 02, 2020 8:15 am
I felt exactly the same I’m to scared to use my card and I won’t, on my payday I leave all direct debit money in the account and take everything else out in cash. I put all money for bills etc in envelopes named so I know what’s for what, I was given this advice on this forum and it’s such a big help doing this monthly.
One thing I do, is half of my food shop online and the rest in cash but that’s purely because the shops I use (Iceland’s & aldi) are not walking distance for me. Which I’ve heard some others do and never been a issued on review time. Which I haven’t reached my first review yet.

SteveUK

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Post by SteveUK » Mon Mar 02, 2020 9:13 am
Payplan never asked us for bank statements.

kallis3

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Post by kallis3 » Mon Mar 02, 2020 9:37 am
I was with Payplan and we had to provide them.
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

SteveUK

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Post by SteveUK » Mon Mar 02, 2020 9:43 am
Mon Mar 02, 2020 9:37 amkallis3 wrote:
I was with Payplan and we had to provide them.
Isn't that weird?

Maybe it depends who is looking after the account but it shouldn't really.

Foggy

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Post by Foggy » Mon Mar 02, 2020 9:49 am
Mon Mar 02, 2020 9:43 amSteveUK wrote:
Mon Mar 02, 2020 9:37 amkallis3 wrote:
I was with Payplan and we had to provide them.
Isn't that weird?

Maybe it depends who is looking after the account but it shouldn't really.
Payplan have undergone a few changes in the last couple of years (internal reorganisation and staff losses). I fear they lost their way for a while.
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
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