hi all,
i am currently 15 payments of £510 p/m into my iva.
im starting to struggle with meeting the payments as my original petrol allowance was £200 p/m but i am now spending over £400 p/m on fuel due to a long distance relationship, also, my housekeeping/food allowance is only £140 p/m and i am also struggling with that too, even though i go out looking for bargains etc!!.
would the creditors take this into account if there was a variation meeting and if a reduction was allowed, would the 60 payments start again?.
i dont want my iva to fail but cannot honestly see how i could continue to make the repayments at the current level at which they are set...
many thanks rt
You can only speak with your IP to find out what they say.
I'm honestly not sure how they would view the additional expenditure on fuel. Perhaps if you had been made redundant and could only find work further afield it would be accepted, but I am not sure how sympathetic they would be on what could be argued to be social expenditure - although I personally have every sympathy!
For example, I haven't seen my friends who live further afield for age as the petrol doesn't stretch that far. We have a £40 hobby/social allowance which basically goes on days out/activities for the girls - so we can't use that either.
I am sure the experts will be along soon with their viewpoint!
If you are struggling, then you do need to speak to your IP as soon as possible. If you continue like this your IVA is likely to fail. Not too sure how they will view the petrol though.
If there was a variation then your 60 months wouldn't start again. You may find that it gets extended by a few months though.
Who is your IP?
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
You are paying reasonably large payments into the IVA and there may be room for a drop if creditors agree. I agree with PD that at the annual review you could have the expenses increased and send some receipts for the petrol to verify the cost. Otherwise you will have to speak to your IP and request a variation.
hiya all,
thanks for the replies
my iva is debt free direct, i have just spoken to them and they are sending me a new income/expenditure form to fill out, i will also send a covering letter explaining my situation to them...
i will not be cutting down on seeing my partner nor will i move there because there is no work where she lives and i am happy in my current job so i will just wait and see what happens ....
Your housekeeping budget is very low at £140, and I would have thought that £195 would be more appropriate in line with current CCCS guidelines. With regard to your increased petrol - are you doing all of the travelling or is your partner funding their share? It may be possible to negotiate a higher allowance, but this will need to be justified to your creditors.
hi melanie,
its hard for my partner to get to mine as she has 2 young children and doesnt drive, she does get down occsssionally and as for the housekeeping budget, i agree with you, its not enough for food, cleaning stuff, deodorants, etc, i mean £35 i more or less spend on food before ive bought anything else
