Had a thought about the karate that has really got to me tonight that I had to pull my son out of something he loved due to money, but also how can I be on a semi decent wage and we are struggling to buy a pair of school shoes where have we gone wrong
Last edited by Ox1987 on Sun Apr 14, 2013 11:01 pm, edited 1 time in total.
Once you get everything settled you will be able to budget for things like uniform, classes etc. An iva teaches you a whole different way of living. It is hard at times but a great life lesson for you and your children.
Talk to Mel Ox...i was surprised what is 'allowed' in an IVA. It takes into account the needs of the children. Not to be extravagant though! I found mel very understanding about family needs and requirements. You are not judged for your level of income or debt. We all have different jobs/family size/circumstances. My daughters do swimming lessons which we feel important skill to have. Thought they'd have to quit but its been put into our budget so money there to continue them. Maybe there will be opportunity for your son to restart extra curricular activitys. Wont know until talk things through.
I have had a nightmare night and dont know which way to turn
I think the IVA will end this job and that is a risk as well as the car lease
I feel we are going to have to try the DMP to hold on for now and see what happens
I have not slept all night
Hi ox1987 sorry to read you have had a bad night. Why are you thinking an IVA will end your job when it hasn't for others with the same qualification? Melanie will be calling today to go over things with you again and alleviate your fears. You have sufficient income to allow for a realistic budget for your family's expenditure and you have the funds to propose a strong Full and Final offer. Nighttime can be the worst for stirring up our thinking and confusing matters but you really are in a position to put things right and be ok, please try and hold on to that.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
I had to do a credit check for this role and it mentioned IVA
Also it concerns me about future job prospects and the car lease issue is also a issue
I feel i am pressurising myself to earn at a high level when in reality we are in a lot of debt if you include the secured loan and is it sustainable. I felt like it was without the unsecured but now I have doubts
Really stressed cannot focus , sorry Tina you have been great, but the wife and me are now falling apart at the seams here
Last edited by Ox1987 on Mon Apr 15, 2013 7:35 am, edited 1 time in total.
Looking at the expense budget you gave me plus some other incidentals for the family it is sustainable without the unsecured debts which is why the F&F will address these debts separately. You will be putting yourselves under ongoing financial pressure by needing to have a monthly payment for a DMP if it is not necessary and you will not have any formal protection from the creditors to give you peace of mind as we discussed. You have income to cover all your living costs, a reliable lump sum to address your unsecured debts and as long as the CIMA issue can be clarified then everything is ok. Please text me separately when you will be available for Mel to call you okay. Forums are great up to a point but to properly clarify and get things clear it is better discussed to save you getting tied up in knots at a computer screen.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Tina is right, Ox. Don't run round in circles. Speak to Mel and take it from there.
As I have said before ( from someone who has been there) don't overwhelm yourself trying to cope with what ifs and maybes. Take it small chunks at a time.
Speak to Mel, deal with the depression and it WILL work itself out. Maintaining a current lifestyle is not the be all and end all --- that said you won't be out on the streets either. Part of this process is to re-learn your financial priorities ... go with it.
Have a good chat today --- best of luck.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am not worried about maintaining a certain lifestyle but I feel that my outgoings are high even without the unsecured and thus I have to maintain this salary level. Will that be harder with an IVA on my file and in the current marketplace. Also this job I am in required a credit check for BR/IVA/CCJ so if I have an IVA could I get fired. Its not a financial services is a membership organisation
Sorry to read youve had a bad night. Listen to Tina Ox. They deal with this daily and wouldnt give you false information or set you up to fail. Your not able to think clearly at the monent. Tina has said you have all the ingrediants for a successful debt plan and the funds for an F&F. Thinking of you.
Ox, please speak to Mel today. I know it's easy for me to say but until you have spoken to Mel you don't have all the information about your options. While we can give advice and support Mel and her team are the ones who can give you the facts.
Ox right at the start of this thread you said up until now you were making all your payments. So if up til now youve paid essentials (mortgage/gas/electric etc) AND unsecured creditors then an IVA fixed monthly payment will be affordable as its worked out after taking into account all your essentials....not the othercway round. Creditors get the left overs!! We were paying an obscene amount to creditors in debt (basically my monthly income) plus the normal outgoings. Our iva payment is now less than what one loan payment alone was as its based on our budget. Looking back i really dont know how we managed for so long (lived by credit card i guess). I wish we'd found iva route sooner instead of taking more loans to try and sort ourselves out. You have a decent income, work out with Mel what your outgoings truely are (she will prompt you with this to ensure nothing missed) then i reckon you will be surprised by what an iva could provide you with. The car lease can be dealt with (many people on here have them) then its just a case of job which i understand is a big issue for you. Tina seems to have experience with clients in same line of work so go through this with her. I hope you gain some confidence ftom speaking to her/Mel today.
I agree Abbiesmum, the issue was I was on a higher salary when I was paying the minimums, my salary has dropped back to a level since 2008
and we are now also 1 salary, without the unsecured we could manage but is tight though I may be able to extend mortgage
