Just to clarify what I think Plastic Draft was meaning it's not about over exaggerating payments or lying it's about panicking you might not get accepted so you go for the lower end of expenditure on one thing thinking that looks a bit high, then you look at another budget and think i'll just shave a bit off that give a better return to the creditors and before you know it you've done it to all your budgets and end up signing yourself up for a 5 year plan on unrealistic budgets that you are never going to be able to stick to or live with which benefits no-one. Just put down what you actually spend as you have and get it all worked out. The only time personally I could see an IP's opinion of budgets being a reason to re-evaluate is if they say the return in the pound is not enough and they really do not see it being approved on the current budget. If that is not of concern and they are just saying it might be seen as excessive by the creditors then I would say ok well when it gets put forward if they find it excessive and ask it to be lowered I will re-assess it then. As all of us keep saying it's a long time to be tied into the plan and you have to be happy with the budgets you have submitted not just your IP. I found it a tad annoying that I was informed smoking is not allowed a budget, was never offered birthday budget or Christmas budget or holiday budget or whatever and yet I know of different people getting accepted with allowances for things I was told were generally not allowed. It's down to the creditors really to vote if they think the return in the pound is acceptable from your budget looking at the allowances you have set up for yourself.
They are very good with email in my experience whilst they do want to discuss things with you I found setting up & yearly review since effective via email.
Evidence what you spend - spreadsheet if required with receipts for everything. There are guidelines whilst these are not set in stone my experience is payplan have kept me close for many of them. However fuel, car maintenance are 2 areas where my budget is way over guideline suggestions but when I drive 20k miles a year what can you expect.
The road is 72months long starting September 2010.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by langerbridge
They are very good with email in my experience whilst they do want to discuss things with you I found setting up & yearly review since effective via email.
Evidence what you spend - spreadsheet if required with receipts for everything. There are guidelines whilst these are not set in stone my experience is payplan have kept me close for many of them. However fuel, car maintenance are 2 areas where my budget is way over guideline suggestions but when I drive 20k miles a year what can you expect.
Well I don't keep every bus ticket or every milk and bread recipt. What am I to do?
Your case officer doesn't have a minion - she is the one who is dealing with you. You are unlikely to have spoken to your IP.
I have never been asked to provide proof for any of my expenditure.
Dave - a lot of IVA's now have a smoking allowance but you will never have an allowance for birthdays, Christmas or holidays.
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
Why don't you ring them tomorrow ask to speak to your case worker, if they still refuse and you have doubts as to whether they are right for you simply pop over to www.iva.com and speak with another couple of companies and see if they put you more at ease because I have to say you really are in a panic over this and you need someone to take control their end and be quite specific about what you spend, what is considered reasonable and unreasonable, things you may have forgotten to put in but can claim for for example I never knew dental hygiene and prescriptions could have its own budget when i took mine out and they never suggested it to me. Speak to them on the phone tomorrow explain everything you have asked on the forum to them and get them to re-do your income and expenditure to reflect a true description of your incomings and outgoings and then and only then can they honestly give you an indication of whether it's a low pence in the pound return to creditors and what they suggest to do about it or everything might be fine and submitted for a creditor meeting. But you do need to speak to them in person and discussing everything in detail to make sure this is done right. If they fob you off tomorrow and refuse to speak to you in depth about it then personally i would be off to www.iva.com to find an alternative supervisor but that's just me
I know someone in an IVA with a small holiday budget and a small budget for birthdays for the kids. The creditors accepted it and the IP put t forward as it's not the dependents fault that their parents are in debt and a birthday card and something small at christmas was not classed as unreasonable. As I say its one rule for one and one rule for another in these IVA's. I don't know if after protocol anything changed in relation to whats acceptable and whats not on an I&E
Well if you want a bigger total you may need to if they think your amounts are too high. I kept every single receipt for one month to work out what I actually spent. I mean everything!!!
It is supposed to be reasonably difficult & thinks seen as everyday treats become a luxury item in an IVA. I sent an excel spreadsheet to elevate some expenses but showed lots of detail. They work with you but there is a requirement to pay as much as possible over to creditors.
The road is 72months long starting September 2010.
i have never known anyone have a budget for birthdays or Christmas and holidays - they were very lucky. We have always been told that we have to save for these from our allowances.
You can, however, ask for an allowance for pocket money for the kids.
My Christmas and birthdays are funded by vouchers earned from online surveys.
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
I echo Jans sentiments that if you are having trouble already with the firm you are dealing with,speak to another. I recommend you always talk to at least 2 or 3 firms anyway,even if you are happy with the 1st one.
As for budgets my point,dont lie,dont exaggerate,but equally dont be pushed into making the figures work. Yes you will be asked to cut back where expenditure is excessive,and some things may be removed altogether. But be prepared to argue your case. If you have specific reasons for setting a higher allowance for something back it up with evidence.
Getting the budget right is the 2nd most important thing in an IVA,the 1st is making sure you select a company who you can happily work with for 5 or more years.
If you are having to accept a budget that you know is too tight to start with then things will go wrong very rapidly. And if you are accepting a budget just to get the IVA off the ground things again will go downhill quickly as well.
An IVA will only work if the budget is set correctly and your payment is set at an affordable level.
Dont agree to something thats destined to failure from the off.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft
Let them know but they probably wont act until the pay cuts actually happen. Remember dont streamline things down to a level which is going to make life impossible for you.
Paul
Like I say- that is under consultation- may or may not happen- so it could be a while and I don't have that length of time!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by langerbridge
Well if you want a bigger total you may need to if they think your amounts are too high. I kept every single receipt for one month to work out what I actually spent. I mean everything!!!
It is supposed to be reasonably difficult & thinks seen as everyday treats become a luxury item in an IVA. I sent an excel spreadsheet to elevate some expenses but showed lots of detail. They work with you but there is a requirement to pay as much as possible over to creditors.
My travel varies- but £151.20 is 5.40 day savers x7 which is the average number of times I travel a week. I really can't offer them more than that!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by langerbridge
Well if you want a bigger total you may need to if they think your amounts are too high. I kept every single receipt for one month to work out what I actually spent. I mean everything!!!
It is supposed to be reasonably difficult & thinks seen as everyday treats become a luxury item in an IVA. I sent an excel spreadsheet to elevate some expenses but showed lots of detail. They work with you but there is a requirement to pay as much as possible over to creditors.
Like I have the time to go through each weekly shopping bill. Dude it varies!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kallis3
i have never known anyone have a budget for birthdays or Christmas and holidays - they were very lucky. We have always been told that we have to save for these from our allowances.
You can, however, ask for an allowance for pocket money for the kids.
My Christmas and birthdays are funded by vouchers earned from online surveys.
Do you not have to tell your IP about that?Is that not classed as a windfall?
Sammy to be fair now is the time to make time with receipts. Unless you know what you are spending & stick to a budget it can create massive problems - no credit to help out!! I have been in a situation where I literally had no more than £10 for the last week of a month to live on.
Good luck with the journey!
The road is 72months long starting September 2010.
