We are 6 months into an iva and still struggling to
Get into a routine and invariably end up scrapping for pennies towards the end of the month.
All DDs go out on pay day but then the what's left just disappears!! Any advice greatly appreciated!
Hi and welcome. I would definitely take a good look at your income and expenditure figures in case you've missed something.
I know it's not easy in an IVA but we should be able to live.
I'm assuming you're cutting back where you can, I further recognise that utilities, food and other things are ever increasing so therefore making it a tight budget.
If you're struggling too much do talk to your IP to see if there is anything they can do to help.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Do you think you left yourself short with your income and expenditure? Often people shortchange themselves when setting up the iva to make it look better for creditors.
might be worth speaking to your iva firm about a review if you are struggling.
paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
The first two years of an iva are the hardest because you have to totally change your mindset and to an extent, your way of life. People on this website have some wonderful tips which we used. eg finding websites that give vouchers or doing surveys online. When we were in our iva I started a recycling club in work, which is still going strong after 7 years. Each time someone has a clear out they bring the items into work and we have a jolly time sharing out each others belongings. Anything left over goes to the charity shop. During the iva it really helped with clothes for all the family. I even had several things I could give as presents for Christmas, birthdays etc. Iva is a hard route, and at the beginning it seems never ending, but it is so worthwhile, life is so much better when you come out the other end. Stick with it and use this forum to get you through the hard times and celebrate the good times. I hope this helps you a bit
Hi Nicpel . Your concern is natural as the early part of an IVA can be difficult to adapt to . This is the right place for advice though . I found cash back websites useful when your buying any sort of insurance , broadband , tv packages , general shopping . Sign up , you'll be surprised what you can save / earn. If you can't make ends meet , please speak with your IP they want to help you , not make life more difficult . Remember , your IVA journey WILL end and it's better than still using plastic and./or loans !!! Good luck
We had all our direct debits go within two days of payday leaving the rest to split over the weeks left ..... We used to withdraw the weekly food and fuel money and live within this ... I would write a list and stick to it for food shopping and right at the beginning I shopped online and had it delivered as it ensured no extras were added into the trolley or the bakery smells didn't get to me ..... It is hard but with a continual focus hopefully it will get easier.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It does sound as if your payments were set at too high a level from the outset, so I would recommend you ask your IP to review them now as you should not be struggling to pay them each month. IPs usually have the discretion to reduce payments by up to 15% without the involvement of your creditors, and without the IVA having to be extended to make up the arrears, so well worth a chat to see what can be done to help you.
Did you genuinely feel the payments would be affordable when you signed up to the IVA, and if so what has happened to cause the continual struggle?
It is hard in an IVA, but that's the point.. but it should be a little easier than before...?
We find that we are down to our last £10 regularly each month, but we get by. This month, with 9 days to go, we've got £77 in the bank for fuel and any extra food (did an online shop yesterday).
Have a word with the company you took the IVA out with to run through your actual expenditure over the last 6 months, see how that compares to the projected figures.
Hi I would just go over your income and expenditure again as others have advised. Eventually living in an IVA gets easier because it eventually becomes second nature to look for bargains and to change the way you live so as to live within your budget. It is hard . At times it can be very hard but the alternatives are harder!
