SOA but nothing left to pay IVA....HELP ME PLAESE!

magicbunn2106

This is my statement of affairs using a calculator from another thread. I have to start paying my iva next month but as you can see from this i have nothing .... WHAT WILL I DO ???? PLEASE CAN SOMEONE HELP. I HAVE A 8 MONTH OLD DAUGHTER AND AM SCARED HOW I AM GOING TO MANAGE TO FEED HER. I really am that scared.


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 500
Benefits................................ 160
Other income............................ 0
Total monthly income.................... 2210
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 70
Gas..................................... 70
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 15
Mobile phone............................ 70
TV Licence.............................. 12
Satellite/Cable TV...................... 30
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 468
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 12
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
car payment............................. 278.01
vanquis................................. 0
catalogue n.c........................... 35
csa payment............................. 176
Total monthly expenses.................. 2188.01

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
vanquis........................470.......17........49.5
Total unsecured debts..........470.......17........-

Monthly Budget Summary
Total monthly income.................... 2,210
Expenses (including HP & secured debts). 2,188.01
Available for debt repayments........... 21.99
Monthly UNsecured debt repayments....... 17
Amount left after debt repayments....... 4.99
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -470
Net Assets.............................. -470

welshmoneylover

You claim you have no money but can afford £70 on mobile phone bill.

Get rid of the phone, change to a cheaper tariff.

£30 on cable/satellite?

Get rid of both, they're luxuries you can't afford. That's £100 saved straight away.

See you can afford it if you learn to manage your finances.

hth

Morgan_Ree

Are you sure you're not entitled to help with the childcare fees by way of WTC?

How many hours do you and your partner work?

magicbunn2106

beleive me i would if i could. How do i get rid of them when i have contracts with the. the £70 is for two contracts which are 24 month contracts which were taken out over 12 months ago. they end at the end of 2010.
the same with the sky its a contract how do i ger released if im still within the 12 months???? advice if you have it.
the internet service is included in the price of the satalite bill.

Wicca303

Agree with wml as regards mobile and cable/satellite, also your gas & electric seem really high. Are you on the best tariff/cheapest supplier?
Do you really need the car? Because your car payment is huge.
Is the CSA payment yours or your OHs? What does he do? His income seems quite low? Any chance he can increase this? overtime?etc?

Wicca303

magicbunn2106 wrote: »

beleive me i would if i could. How do i get rid of them when i have contracts with the. the £70 is for two contracts which are 24 month contracts which were taken out over 12 months ago. they end at the end of 2010.
the same with the sky its a contract how do i ger released if im still within the 12 months???? advice if you have it.

You might not have meant it to but this sounds a bit confrontational. You posted asking for help and that's what we're trying to do.

Phone them. be honest. Explain you can't afford to keep paying them. They may do you a deal. Be firm, don't let them fob you off with the well you're still in contract thing. They can do something.

I'm with orange and they do best plan, after 6 months if there's a plan that will work out cheaper for you they'll move you to that, you just have to call them and request a best plan deal.

mjm3346

Maybe a silly question but what is the IVA for? (Assuming not the vanquis bill)

magicbunn2106

i appreciate all your responses. the main income is my partners and the low income is mine. His job is law based (think blue lights)! he dosent get planned overtime just if a 'job' keeps him on longer than an hour past teh end of teh shift then he will get the hour any less and "its for the queen!". i cant ick up overtime as my o/h is on shifts little dd in in nursery when i am in work and when she is not in nursery she is with me . dont have anyone else to look afetr her.
the csa payment is my o/h. we do really need the car . as my o.h has 2 out of 5 weekends with his daughter . she live a 100 mile round trip so need the car to pick her up for visits. i will walk to work though, as i used to do and will be walking baby to nursery as its on the way to work. other half has been biking to work to save petrol. the bulk of the expense is for collecting his dd. I use ptrol price updates so we can get the cheapest petrol around us.
not sure on wtc , as i dont go back to work for 3 weeks and they wont advise me until i return.

magicbunn2106

mjm3346 wrote: »

Maybe a silly question but what is the IVA for? (Assuming not the vanquis bill)

Not silly at all. my partner left a previous life with ALL the debts . approx £30k. Tried to do the mothly minimums but nothing was moving didnt have any other option. well so we didnt think.

magicbunn2106

Wicca303 wrote: »

You might not have meant it to but this sounds a bit confrontational. You posted asking for help and that's what we're trying to do.

Phone them. be honest. Explain you can't afford to keep paying them. They may do you a deal. Be firm, don't let them fob you off with the well you're still in contract thing. They can do something.

I'm with orange and they do best plan, after 6 months if there's a plan that will work out cheaper for you they'll move you to that, you just have to call them and request a best plan deal.

You are totally right and i am so sorry. Of cousre i appreciate what ever anyone has posted. People taking the time to comment on my post .. make me so grateful. BIG SORRY to anyone who mistook my fear for rudeness.:D

magicbunn2106

Morgan_Ree wrote: »

Are you sure you're not entitled to help with the childcare fees by way of WTC?

How many hours do you and your partner work?

my partner dose 5 weeks shift patterns, but average 38 hours a week. my new hours will be 21 a week.