Hi, it`s good to know they are a reputable firm,gives more hope of sorting things out.We`ve been paying £150 p/m which was good for us b4 my hubby had his hours cut,but now he`s lucky if he can make 1k p/m. We wanted a dmp to begin with but were told that we`d be silly to pay £150 for 10yrs or more when we could pay the same amount & be debt free in 5yrs..though now they`ve pushed it up to 7yrs..so yes, if we could go into a dmp we would be much happier...& i think that is what they have done,juggled the amounts to make the iva viable..but if it wasn`t a viable option why did they push us to have it
Broke of London wrote:
Hi - Harrington brooks are a reputable firm. I can only imagine them squeezing the allowances so tightly to make the IVA viable - do you mind me asking how much you pay per month? Still, it's not on to make you struggle like this. You said at the start that you didn't want an iva and only signed up in a panic...what alternative would you choose now? You can choose to fail the iva at any time and go for a DMP or BR. xx
I get an allowance of £12 a month for hair which is what is costs me. Hubby just uses the clippers! I claim for pet insurance, dental charges, prescription charges, optical, sky, broadband, mobile phone, entertainment, contingency fund, car breakdown, meals at work. I could go on.
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
i didn`t even think about hairdressers etc..my hubby & i use his clippers & i trim my daughters myself..but she does have her swimming club & school dinners that have to come out of the £250...i`m not taking her swimming off her, she`s already devastated that she isn`t going to achieve her dream of going to grammar, we couldn`t even sign up for the race for life this year & i`d promised her that we`d run it every year in thanks for me being a survivor
You should be able to have an allowance for school dinners and the club. You can even have an allowance for pocket money.
If you cannot afford this and can't get them to adjust your allowances there is a possibility that you could let it fail and revert back to a DMP.
Do you have any assets that would be in danger if you thought about bankruptcy?
Do try and speak to your IP though if you can.
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
i can`t see them letting me have an allowance for a club when they expect me to starve the cats lol..& we definitely don`t want to file for bankruptcy..knowing we still have our home is the only thing keeping us going!!!!
worried mum wrote:
i didn`t even think about hairdressers etc..my hubby & i use his clippers & i trim my daughters myself..but she does have her swimming club & school dinners that have to come out of the £250...i`m not taking her swimming off her, she`s already devastated that she isn`t going to achieve her dream of going to grammar, we couldn`t even sign up for the race for life this year & i`d promised her that we`d run it every year in thanks for me being a survivor
That's fair enough. You should be able to claim a lot more than you are. If you really can't manage it then perhaps a DMP would be better for you.
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
I would always say that you should put down what you spend - the IP can always tell you if it's too much.
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
Hi again, I agree with others that your I&E needs looking at again in detail as although we can't live luxuriously, we should not be struggling this much. Let us know how you get on x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi again worriedmum - it sounds really hard! Push for a full review of your income and expenditure. You can even do this yourself and send them the spreadsheet showing what you can afford to pay towards your debts after all living expenses have been accounted for. If you need a reduction above 15% (which I suspect you do) it is for the creditors to decide whether this is viable and HB must call a variation meeting putting forward the new figures. Then if it isn't possible to continue the iva you can go onto a DMP. You could go straight onto a DMP if you wished but I would hate to see you waste the fees you've paid if you can help it. You're doing really well to keep your daughter's swimming - you should change your name to lovelymum! xx
Hi again Broke of London,thanks for your input..how would i go about going on a DMP myself...I understand what u mean about wasting the money we`ve already paid, but every time HB do something it costs £500+ so it could be cheaper to just cut loose...i wasn`t aware that i had an option,thought if we stopped paying they`d take us to court & we`d lose our home.... or do you think it would be better to take the spreadsheet to CAB & see if they can push HB to admit the figures aren`t viable?
Soz for being a pain,just not got a clue..its got to the point now that we can`t even look 4ward to payday cos there`s nothing left after DDs go out
Thnx 4 the lovely mum comment, hope she still thinks so next week when she gets nowt 4 her b/day lol...she will, she`s a good girl..i should really change my name to luckymum
I really feel for you the way you are struggling, it reminds me of the first 18 months of our IVA. Ive got 2 little boys so I do understand where you are coming from & as I have said before we had the same struggles as you with a unrealistic I&E.
Your first point of call is contacting your IP first. They have to review your circumstances as you are struggling. Don't forget your are paying your IP to work for you not just the creditors.
If you need a reduction of more than 15% of your payments, they will have to go back to the creditors for them to vote.
If a IVA was to fail by yourself or your creditors then a DMP could be a solution as well could BR. I know you have a property to protect but both these options could be explored.
But I firmly believe your first port of call is your IP before you do anything & insist on speaking to your IP & requesting a review.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
I only just picked up on this on a another post, he may pick up on your post & ask you to contact him directly as this is how he prefers to deal with his clients.
