thriving on an IVA budget

RuthnJasper

cheesedoffwithdebt wrote: »

lovely well written blog- you should write a book!

I started blogging too- I find writing my diary helps me to focus on getting through-not sure if anyone reads it but not really bothered-I read it and realise I am learning how to get through- agree with you RuthnJasper people need to consider an IVA carefully although it was really my only acceptable choice, and once over I know I'll be so relieved, had I tried to continue a DMP I would be paying it for evermore- you can only live on this kind of budget short term. Well done you anyway.:T

Oh thank you - thank you so much. You're right; it DOES help to keep a diary/blog - if only for the later difficult times, when you can look back and see how MUCH you have achieved. Is your diary on-line? I'd love to read it.

Thank you for your compliment. I've written magazine articles and plays which have been published and performed in the past - but I'm a gutless turd really - too cowardly to accept publishers' offers and stick my head above the parapet. I can bear anything except people telling me my work is crap.

To sum up my experiences - NEVER GIVE UP - and KEEP smiling.

Thank you for your lovely post, can't tell you how much that means to me at the moment. xxx

cheesedoffwithdebt

I've sent you a PM Ruth with the link- was told when I opened this thread that it should not be where I "promoted" my blog-albeit to me it's a diary -definitely not a commercial venture but I did check everything before I opened the thread so must respect that.
And yes I agree- never ever give up- there is a saying
"this too shall pass"

and your work isn't crap-so there!

Isis_Black

well we were doing well until i had to give up my uni course last year due to my health being crappy (had no support from the uni :-( ) so thats reduced income by a lot.
i am now due to be loosing my beloved car as she keeps breaking and we just cannot afford to run her anymore.
we have told our IVA provider i have left uni and they have sent us an expenditure form out but we have been having to wait to hear from student finance on money they are demanding i repay £567 from a supposed over payment in a grant :-(
were coming up to 2 years into this IVA and all was going so well and positive until now, i just hope we can get things sorted and back to being ok

cheesedoffwithdebt

Isis_Black wrote: »

well we were doing well until i had to give up my uni course last year due to my health being crappy (had no support from the uni :-( ) so thats reduced income by a lot.
i am now due to be loosing my beloved car as she keeps breaking and we just cannot afford to run her anymore.
we have told our IVA provider i have left uni and they have sent us an expenditure form out but we have been having to wait to hear from student finance on money they are demanding i repay £567 from a supposed over payment in a grant :-(
were coming up to 2 years into this IVA and all was going so well and positive until now, i just hope we can get things sorted and back to being ok

sorry to hear you are having problems- as far as the debt to the University is concerned you need to speak to your IP I think and see if it can be drawn into the IVA. Otherwise you need to let them know you are in an IVA, have no resources and therefore need to pay them back in instalments- so get acting on that don't just sit back.
Losing a car will be a wrench yes-but don't give up! I think your priorities are sorting out your income- if your health is poor there ought to be some benefits available, and for transport- is there good public transport where you are?

This is why the reality of an IVA is hard but there are people on here who have got through - you can be one of them- you must be very intelligent - the challenge now is being resourceful and working out a Plan B for your life - it's not a time that you can afford to hang around for too long- to survive and even thrive through this time takes courage- do keep us posted about how it all works out.

FiatFan_2

ooh the anticipation of payday finally arriving tomorrow, will there be an excess, will I get to keep it all. It's more exciting than Christmas for one day then back to reality of budgeting for the month ahead.

Anyone else feel like that?

cheesedoffwithdebt

HI Fiatfan yes that's how I feel every month!! However- I have £30 in my Christmas 2013 fund- and whilst not alot I am feeling over the moon that during January which in anyone's books is a LONG month ( because we get paid slightly early in December so the money has to stretch over more weeks). I am selling on ebay- these days it's the kind of stuff that keeps me motivated.
However- we don't start the money overdrawn, there are no debt statements coming in like cc bills that demand a huge chunk of my salary- I check my online banking every day as well because I am so forgetful- feel like I am living life in a slightly obsessed way at the moment!

Napoleon66

I've got 4 more payments to make until my DFD!! I can't believe it. Doing this IVA has changed my mindset about money and how I want to live. Although it wasn't immediately apparent, I can now honestly say its changed the way I live for the better.

I never used to think about money and my debt! Now, i check my bank balance every morning. I bring lunch into work everyday. I go to the supermarket with a list and I always think twice before i spend anything. I look at money in a positive way rather than negative. I've also changed in that i no longer like to have a lot of 'stuff', be that clothes, nick-nacks, or loads of food in the fridge... I prefer everything to be simple and minimal.

Good luck to all you in beating debt.

FiatFan_2

Hi cheesedofwithdebt, yes I still think January feels such a long month, 6 weeks instead of 4/5 so it's been a bigger relief than normal. We didn't intend saving anything meaningful in Jan but managed a tiny bit. We've now got our allowances and some extra squirrelled away for Christmas 13, such a good feeling! We're off next week so think there will be a bit of ebaying going on

Well done Napoleon66, can't wait to get into your position being so close to the end. That's the way we hope to feel by re-educating ourselves about money during the course of the iva. So far I think it's working

cheesedoffwithdebt

Napolean I am so envious! But that will be me one day-I am sitting in a room with a post it note on the wall that tells me how many months to go-I change it every month obviously!
Yes this has changed my approach to managing my money in a very major way hence this thread, I've been stunned at charity shop finds, I remember the first time I went round a charity shop, not to donate but to buy, and felt very conspicuous- this week, and after a great deal of checking prices and checking ebay for a bedspread I got a "Dorma" one in Oxfam for £20!! ( I reckon the lowest I've seen for a similar one on ebay, it's in good condition, and very warm, was £45 plus the P&P).

I HAVE to wait these days I have no choice- before, I'd get "bored" of waiting and talk myself into paying the full price.

I too make a packed lunch now every day, and always shop with a list, the difference in my cost of living is huge.

I am hoping that this "IVA Lesson" will serve me well once it has closed and that I will be able to save so much more once I am debt free.


I am going to be sorting out some goods for ebay today as well Fiatfan, I've got a day off so it's a very positive way to spend some time.

Have a lovely day everyone

ami66

Oh it was lovely to start January with no Christmas Debt

We're slightly over January's budget due to a weekly wage being lower than the calculated monthly amount and also having to pay a road tax in the first month of the year :cool: but have put aside a little for Christmas 2013 and emergency fund so not all bad.

Opinions - What is INCOME?

Our agreement states 'Where you are employed, you must report any overtime, bonus, commission or similar'

We are both in an employment that does not pay overtime, bonus or commission so it is very unlikely we'll ever have anything to declare unless we get a pay rise.

However I do cash back, surveys, ebaying and MS jobs among other penny paying jobs, will that be consider as income?

Anyone had any dealing with a Tax Credits overpayment as part of an IVA? I should be receiving a lot more than I am but have deductions because of an over payment. The IVA includes the overpayment so can I expect to see an increase in my tax credits? Should I report this increase income if that does happen?

Have you noticed how much IF becomes part of your essential language when dealing with an IVA?:rotfl: