outgoings in IVA

kingston_2730

When setting up an IVA what do you have to prove of your outgoings? Do you have to give receipts for groceries, petrol or any other spending?

To_be_Free

kingston_2730 wrote: »

When setting up an IVA what do you have to prove of your outgoings? Do you have to give receipts for groceries, petrol or any other spending?

When I set mine up I had to prove how much I paid for Mortgage, insurances etc but not for groceries, petrol and other sundries.

Charco_2

Yeah, as above. Mortgage, rates, council tax, water etc all have to be verified. Sometimes insurances too.

The other expenses generally have an upper limit of how much it is reasonable to spend on them. They are still negotiable though of you can justify larger expenses.

I noticed you had another question on expenses regarding cigarettes which ARE allowed but limited! (if you want further help, then post a draft of your i&e up here and I'll give you some pointers!

kingston_2730

Oh, the other posters kind of laughed at me asking if you were allowed anything for cigarettes. Do you know approx how much you would be allowed? Thanks for your help!

kingmidas1962

my IVA provider 'suggested' amounts for me as I didnt know where to start, then I worked through a months bank statements to see if they added up - didn't take long and it meant I wasnt doing myself out of anything. Make sure you revise your I&E honestly every year though (although as mentioned above you can 'be creative') and make sure you take into consideration things like the recent (and forthcoming) VAT increases on fuel. We also have a contingency fund built into ours which technically speaking if we don't spend it each month could build into a lump sum we cold use for a big purchase or emergency ... we're still doing ok and just over a year to go ... nearly there ...

RuthnJasper

I had to supply, amongst other things, my previous three months' bank statements - it's possible to get a fair idea of grocery/petrol (or fags!) spends from those.

As far as I recall (been in the IVA for three years now), I was offered @£20 per month for cigarettes. However, I only have a couple a day or so, and therefore said I didn't need it. I count the fag packets I occasionally buy in with my grocery spend.

Good luck to you Kingston.
x

ciderwithrosie_2

We didn't have to send in bank statements but we had to send proof of our rent from the housing association, 3 months payslips for us both and our last P60s (this is what they request at the yearly review as well).

The other allowances I went through with my IP, she suggested what the limits were and where we could be a little more 'creative', for example, our electric was really high cos we were on a key meter, the allowance for electric was suggested at £70 pm where as ours was more like £100 (it's a lot cheaper now btw as we've switched to a normal meter and one of our boys is away at Uni) but we were allowed a little more on our food budget due to the OH being diabetic and needing a decent diet - nothing was mentioned about a cigarette allowance though. We had to write a statement about how we got into debt and our lifestyle as well.

I think a lot depends on who you get. I first went to Nationaldebtline and the quote I got from them was to pay back over £600pm, I gave up on the IVA idea for a while after that and managed my own DMP for about a year but one creditor just wouldn't get on board so I met with an IP through Citizen's Advice - we ended up paying £470pm (which has stayed that so far, just gone into year 3).

regards CWR