www.iva.co.uk

Hi all,

I am currently trying to put forward a case to pay my IVA off early. I currently live with my girlfriend and her family. Our relationship has been deteriorating since my IVA started 18 months ago and is now at the point where she has had enough and is threatening to leave me. She has though offered to loan me some money to pay the IVA off and make a fresh start. I have explained the situation to my IP and they said that I have a reasonable case because if our relationship ends and I become homeless (my family live abroad) I would have very little money after paying rent & bills etc.

I would really appreciate your opinions on the budget I have prepared should the above happen and I have to rent my own place. I will put my current budget in for reference (this was the original budget agreed at the start of my IVA in October 08).

Current Expenditure Revised Budget
Board £240 Rent £380
Bills Contribution £75 Council tax £60
Car tax £15 Water £20
Car Insurance £40 Electricity £50
Dental £10 TV license £10
Mobile phone bill £40 Gas £50
Car maintenance £30 hone/broadband £40
Petrol £175 Car tax £15
Breakdown £4 Car Insurance £40
Food & toiletries £180 Dental £10
Other £10 Mobile phone bill £40
Sports £15 Car maintenance £30
Work meals £20 Petrol £190
Hairdressers £5 Breakdown £4
Prescriptions £5 Food & toiletries £200
Clothes £25 Other £10
Sports £15
Work meals £20
Hairdressers £5
Prescriptions £5
Clothes £50
Total £889 £1244

It is worth noting that when my IVA started I had a monthly take home income of £1150 which has now risen to £1400. I have never lived on my own before so am unsure if the figures I have put in for things like gas and electric are reasonable. The rent I have allowed for would be for a small apartment but not a dump.

Any thoughts would be greatly appreciated!

That didnt work very well this should be a bit more readable

Current Expenditure

Board £240
Bills Contribution £75
Car tax £15
Car Insurance £40
Dental £10
Mobile phone bill £40
Car maintenance £30
Petrol £175
Breakdown £4
Food & toiletries £180
Other £10
Sports £15
Work meals £20
Hairdressers £5
Prescriptions £5
Clothes £25

Total £889


Revised Budget

Rent £380
Council tax £60
Water £20
Electricity £50
TV license £10
Gas £50
Phone/broadband £40
Car tax £15
Car Insurance £40
Dental £10
Mobile phone bill £40
Car maintenance £30
Petrol £190
Breakdown £4
Food & toiletries £200
Other £10
Sports £15
Work meals £20
Hairdressers £5
Prescriptions £5
Clothes £50

Total £1244

Your income and expenditure looks fine and while some are high there are other expenses that could be listed. Hopefully creditors accept the full and final and you can then pay your girlfriend off at a more affordable rate than the IVA.