www.iva.co.uk

Morning all. I am still looking to get an IVA but although things are on the final furlong I have a new question. My husband and I are looking to expand our craft business. He does photography/painting and I do various crafts. I am also in full time employment and my husband has his pension. We have a hopefully workable figure from Amie but I suddenly realised that the figure left nothing over for us to continue to do craft fairs and replenish stock. We don't earn a fortune doing the fairs but we are looking to expand on the internet and fairs in other areas. Anyway my long winded question is does anyone have any advice for us as to what figure we should put on this. Before Christmas we had 5 fairs and made about a profit but we also had to make sure we had the table fees (average 18 a table) each fair was different profit wise. And then my husband had several new photos printed and did some photo mugs (about 25% of which sold) and I replenished my Christmas card stock But as you can imagine you can never be sure what will sell. So has anyone else been down the same route with trying to make extra money by crafting? How did that fit in with their IVA? Any help will be much appreciated as I need to get my IVA sorted as soon as possible as we have already let it drag on for far too long. Thank You all in advance Susan

Hi Susan

I am assuming that we are helping you with your IVA if Amie is working with you?

It would make sense to review your costs over the last 12 months to see what you have spent - if the last year is typical of previous years and what you anticipate you are likely to spend over the next year.

I am assuming that your crafting activities are generating a profit which is being utilised in the calculation of your disposable income. If this is not the case, and your activities are classed more as hobbies, then there can be no additional allowances for this at the expense of your creditors.

Happy to chat this through with you on the phone if you would prefer.