Going through fourth year annual review currently. I wasn't able to release equity from house as expected in this market and creditors meeting is to be held.
However I noticed on my I&E form that I haven't changed my household expenditure figure (food / household stuff) from 415 pounds and 35 pounds for meals at work for the last 2 years.
Yet to be honest I don't even know if this is correct given the fact I have a family of four to cater for (wife, 6 year old and 3 old). I know for sure we probably spend more than that and i am therefore compensating in other areas.
I don't track the details on this but I know that things have got more expensive but no way to valdiate my expenditure in this area overall at the moment. I want to inform my IP of this but not sure what position i should come from. After all I am committed to paying back on the debts but i don't want to sell myself short on the essentials like this.
The same goes for Petrol which has been set at 150 pounds per month for the last 2 years and yet the increase on fuel duty has gone up 30% or more. I dont drive less or more than I did then but still the fact is things are more expensive at the high level.
Looking for some guidance here if anyone is in a similar position or from IP perspective.
i havn't reached a first review yet, but others advise you put down exactly what you spend,to include an increase or decrease in both income and expenditure.
kat
IVA accepted 6th May 2011, Full and Final accepted 17th April 2012.
As regards meals for work, it is still £35 - I tried to up it this year and was refused.
Speak to your IP - you should be able to increase food and fuel as they have gone up astronomically this year.
Put down what you spend and your IP will tell you whether it is allowed or not.
Might be an idea to have a few receipts to hand in case they want any?
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
Everyone's food and fuel costs have gone up in the last 12 months so make sure you send in the exact figure that you now spend - it is reasonable for your expenses in these areas to have increased and I am sure your IP will be supportive to this.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I will do just that. I have extra money from salary this year but it is largely being eaten up by increasing food, travel (trains), petrol and insurance costs.
Hi - I tend to put all my allowances in a pot and mix them up too. But at my first review I put an inflationary increase on my housekeeping and this was accepted without question.
