help with figures for IVA

tatty1985

Tarambor wrote: »

You won't get things under control until you realise the reason for you being in the situation you're in isn't the amount you're paying on payday loans but the fact you were and still are buying things you can't afford with other people's money and you're putting too much on a bonus you may or may not even get.

You spend too much money on food, the national average for a family of four is £56 a week according to ONS figures and you're spending almost double that. £60 a month in clothing is also much more than you need to be spending as an adult. Clothes can last years before they need to be replaced.

I cant see how that much is too much for food and shopping. that includes the dog food, lunches and meals for three, cleaning products and toiletries. etc. I really thought I might of under budgeted for this. As for the clothes we dont buy clothes except for the baby. the agent advised to put this figure in. we shop at charity shops or market place to get things for ourselves.

Life insurance is double what it should be unless you smoke and if you do smoke then stopping would save you over £3000 a year if you go through 20 fags a day, buildings and contents insurance seems very excessive compared to what I pay.

I used to smoke but my mother had breast cancer at 34 so I am a risk hence the high charges. this again is for the two of us. we took out the basic insurance for the house and contents could it be the area I live in?

tatty1985

DorisTrousers wrote: »

Hi,

Council Tax Arrears and the Electricity arrears would be debts bound by the IVA, that should ease some of the pressure, though you would be expected to go back to normal payments so that they do not happen again.

The key with an IVA is affordability, and budgeting tips to bring your costs down are all well and good, but in an IVA would serve only to drive a payment up. For DMP's, paying as much as you can to get debts down quickly can be a good idea, for IVA's they are a recipe for disaster.

Proof of the Childcare can be achieved by either a regular bank transfer, or written proof of the bill, the provider does not have to be registered. If that were the case, all the parents and grandparents helping family out would not be an allowable expense, which is just a nonsense.

Some of your expenditure looks low to me, food and clothing especially, along with one or two discretionary items not listed. Factor that in, and it looks like you have maybe offered a tadge too much, IMHO, although these things are notoriously difficult to get exactly right on a forum without the benefit of necessary written evidence.

thanks for replying to me. I do not want to get in this state again I am so conscious of getting this budget right so I can clear my debts and live with a realistic budget.
I will be glad when it is all set up and I am paying it off this part is getting stressful making sure I have all debtors on the list and the budget is realistic.

what does everyone do for xmas and birthdays? I know I will have to do a low key one this year as I will have no money only what is on my budget but any tips would be appreciated.

I will see about adding a small hairdressing fee ( I haven't had mine cut for over a year and the boyfriends mate does his and the baby get his done by the mother in law.... he has been scalped a few times would be nice to get him a proper cut )

I would rather offer a bit less and then up it after a year of seeing how it goes. thanks again everyone for commenting xxx