Iva soa

elljay

Morning

I'm pretty well decided now that the way to go for me is an IVA. Although, in view of my age, bankruptcy seems the most sensible solution, as I could give up work sooner, there are 2 main reasons - not wanting to lose my car and not wanting my landlord to know (glad I found out about that one!) - that I think IVA would be best. I also want to feel I'm repaying something towards the people who had faith in my business at the beginning even if only faceless banks etc.

My quandary is with the soa. People say to put what you actually use but because I've pared back to the absolute minimum over the past year or so, my outgoings on things like food and electricity are low and the stepchange remedy suggests a minimum which is massively higher than what I actually do spend. However I don't want another winter like last as I froze and live off cheap carbs now (plus home grown veg at the moment so not all bad!!) I don't really know how to decide on an amount for these items. The other thing is that as I live in a very rural area I use my car probably more than others in a town and want to have enough spare cash for petrol, so maybe putting a higher amount for food etc and using any left over for petrol is the best thing to do. Is that acceptable or do you have to prove what you spend on what.

I wish I could find some sort of guidelines for what is acceptable (single person, rented house, v rural area) but great at living the os lifestyle etc!

Is there anyone in a similar situation who can advise? Thank you.

UpToMyNeckInIt

You can view / download a copy of the latest Stepchange Budget Guidelines here:

https://docs.google.com/file/d/0B7LabJy69BP1M0gxeHQ1SDFiN1E/edit?pli=1

elljay

Thank you for pointing me in that direction. Very helpful, I'm definitely existing on much less than that for the food etc allowance. Is there something similar which takes into account untilities, rent, council tax and so on?

Thank you again.

FiatFan_2

elljay wrote: »

Thank you for pointing me in that direction. Very helpful, I'm definitely existing on much less than that for the food etc allowance. Is there something similar which takes into account untilities, rent, council tax and so on?

Thank you again.

Definitely give yourself a boost in expenditure as you never know what you'll need in the future. Utilities, rent, council tax, water are all fixed by others so stick what you actually pay. The statements you provide will confirm them as actual expenditure.