I am now in the final year of my iva and my final review is due next month (june). we have just had a little baby boy 6 weeks ago and i am just wanting to know how much allowance i have for a child to look after and support.
Hi David
Speak with your IP and fill out a fresh income and expenditure form, put down the extra costs on expenditure that you have with your baby. Your payments should reduce to compensate for increased costs, though you will have to include the extra child benefit and any extra tax credits
Regards
Babies do cost a lot! You do need to submit a new I&E to 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
As above fill out a new I&E form with the IP taking extra payments but also extra credits into consideration and then focus once more on your bundle of joy and be happy you have not much longer to go before you will be debt free and in a much happier financial position for you and your now growing family.
Yes Melanie, I think that was the figure you quoted me during our tele-con last Monday. Amazing how those little munchkins can cost so much, but the return is immeasurable.
MelanieGiles wrote:
Congratulations from me as well.
At the last count it apparently costs around £210k to raise a child from birth to the age of 18 - so you have a long, but very pleasurable, way to go!
Last edited by Sinking Fast on Sun May 23, 2010 9:27 pm, edited 1 time in total.
Congratulations from me too and do contact your IP as soon as to re-do your I&E.
Pampers nappies this week were £6 per pack at Tesco and they were buy 2 get 2 free, I only know as my grandchildren (well some of them) are in nappies and it was mentioned. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
