So…. Turns out that IVA is not for me - apparently my disposable income is too high so it would not accepted. Hmmmm

Bancrupcy is not an option because of my job.

Informal Payment Plan - too much grief to arrange.

What is left?

Finding an extra job, struggling and trying to pay all off as originally arranged…..

Good luck to everyone - whiever way you choose to pay off your debts.

Turns out can not catch the payroll on time THIS month, already done.

Quick thinking “just in case - back up plan” - salary comes in on the 26th, DD go out on the 1st. Transfer the whole salary on the day it is paid in to another account - will know about Co Op on Wednesday.

Phone call from one of the companies I have contacted - they have worked out my “disposable income” at….. £850 per month (!!!)

Nope, not even going there, not possible - I am a realist, will not put a rope around my neck.

Clothes for a month for me and my daughter (nearly 17) were suggested at … £50 per month. I have to wear suits to work, I have to look well groomed (hair etc..). No way, not on £50 per week. The kid still growing. Impossible.

Household at 350 per month - negotiable as no allowance for my lunches at work at all “make sarnies” - yup, from that 350 per month? Allowance for daughter’s lunches at £20 per month. Not possible, do not want my daughter on a pack of chips at lunch at £1 per day.

Pet food calculated at £20 per month. That to include cat litter for indoor only cat (live in a flat, not going out), food for cat, dog (German Shepherd), monthly worming and flea treatment…£20 per month?

Suggestion to “rehme” the pets. No way - they are PART of our little family. My, my daughter, our cat, our dog and our pet hedgehog.. They are not going nowhere.

No allowance for “Birthdays/Xmas/Easter/Newspapers” - none at all…

No allowance for cigarettes. Ok, at the moment I smoke 40 per day - stress. I will go down to 20 per day. Nope. 10 per day? Nope - none at all. I wish it was THAT easy…..to just give up.

Shall I go on?

Also the news that with £850 disposable income per month I would not even qualify for IVA as over 60 months this comes up to £51 000 and my debts are “only just over 36k”

Suggested bancrupcy - not with my job, can not.

Suggested DMP - do not want to strech the payments for any longer than 5 years - not possible then.

Have to think about the future. Can not risk making an arrangement to which I KNOW even now - I will not be able to stick, no matter what.

Waiting for someone else to get back to me, tomorrow evening. Sent off all my details on a neat spreadsheet - the form did not allow “coments” and I had a few.

Trying to justify clothes alternation costs when you are 5 foot nothing (both me and my daughter) and can not afford properly made “petite” clothes so end up buying cheaper stuff and having to have all shortened etc.. How degrading.

Dry cleaning of suits for work, shoe mending - the ones that dog did not find when home alone of course… Just normal wear and tear…

Took the dog to the vet - 15 minutes later and £70 lighter thinking again - I have to get pet insurance. Before I go back next week.

Night night….

Busy weekend it was but something is happening - was contacted by Thomas Charles earlier on and now Melanie Giles got back to be re the form I have submitted via her website.

Have to see who comes up with what as the best solution for me and take it from there.

better try to get some sleep now - very busy week at work ahead, 2 hospital appointments, vet visit, parents evening at daughter’s college and all this financial mess to deal with in between.

Nigght night all.

Good bunch of people on the Forum - very patient…Nobody slapped me on the wrist for posting 1001 questions. Yet.

Got a bit clearer idea what to do now:

1) Co Op Account will hopefully be sorted on Wednesday. Fingers crossed. Applied today over the phone. Hope it is accepted and can get the Pyroll the new account details in time for the 26th March salary to go to the new account.

2) Finish off the Expenses sheet, re check making sure I have not missed anything and that I am not over enthusiastic with “disposable income” figure as I can clearly see this was the reason for many other’s IVA’s failing after few months. I can not afford mine to fail.Better learn on other people’s mistakes.

3) Have to find an IP - tomorrow. Start the ball rolling ASAP. I can not even imagine another month like this.One that can work with me and get IVA for under 500 per month.

4) Call all creditors tomorrow to find out exact outstanding balances and have those ready for future IP.

5) Cancel DD for debts this week. As soon as I have an IP who works for/with me

Unplug the house phone for 2 months , cross my fingers and hope for the best…

*****

The dog is limping, noticed this last week, thought just a simple thing and would pass. It did not - back to the vet tomorrow. I still haven’t got insurance….

Read a bit more, posted on the Forum a bit more…got some advice re bank accounts.

Tried Nationwide - no good as only cash card.

Got a link on the Forum, found a table of all basic accounts with their facilities: http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Very few offer a debit card. Halifax looked good but they charge a forutne for missing payments. No good then.

Called Co - Op re cashminder: http://www.co-operativebank.co.uk/servlet/Satellite?c=Page&cid=1076054709735&pagename=CoopBank%2FPage%2FtplPageStandard

Waw- not only open on Sunday at 4pm but also speak English LOL

Electron Card, Online banking - what I need. Good.

Took my details, have to call back on Wednesday to see if accepted. If accepted - would have new bank account details same day over the phone, couls let the Payroll know on Thursday to pay my salary into new account with still enough time to cancel debts DD and set up new account with bills DD.

Feeling a bit better now.

Stopped raining, taking dog for a walk then.

Nope, not a relaxing Mother’s day Sunday… still reading, learning, trying to figure out, putting figures together etc…

24 hours straight, pretty much - since yesterday’s phone calls to the banks when the computers said “no”

 Good to have found this Forum - so it is not just me…Really depressing to see how many people try to get out of similar mess and clutching at straws.

So may IVAs approved only to fail shortly after. Why?

Reading more, looking between the lines, trying to figure it out.

Stares me in the face. Not enough information to make informed decision, a bit pushed I think into financial arrangements based on figures that are too low to live on, happy to see lower repayments and not realising those were still too high with no allowance for any “emergency”.

Emergency… my little baby dog was spayed 3 weeks ago. Not an emergency, 200 on the credit card for the operation. And then.. infection, 2 weeks of antibiotics (injections and tablets), ever day visits to the vet and “Do you have an insurabnce?”. Nope, I did not. Thanks God my vet reacted in a way he did to my apperntly “going white” on my face and.. charged me only for medicine, not for consultations and procedures (draining the wound etc). Lucky? yes.. THIS time. But what if..?

Have to get Pet insurance, looking it up - comes out to 38 per month for my dog and about 20 for the cat. Yup, there are cheaper options but do not cover all possibilities. In that case I would need an insurance AND bit for other emergenices too….Anyway have to allow for possible “excess”. Also, flee treatment, worming, yearly vaccinations - not covered by Pet Insurance. Got to allow for those. Somehow.

 Also - cat litter. Do not have a garden. Need cat litter. Need food for cat and dog. And bedding and food for the hedgehog. He lives indoors, does not cost much to kleep but still.

The dog was bored, ate some cables - repairs. Got to allow for those.

Forgot about perscriptions. 3 items per month for me. What about optician? I wear glases. What about dentist?

Housekeeping. What goes into this? Saw 20 per person on Melanie’s blog. Jesussssssssssssssssss - what can you get for 20 per week per person? Maybe with a big family if you buy in bulk. It is just me and my daughter. can not buy in bulk, have to overpay for smaller portions of everything. Not all can be frozen and kept for later.

Washing up liquid - does it come under housekeeping? In those 20 per week? Washing powder, floor cleaner, bleech, shampoo, totpaste… Tampons? Jesusssssssssssssssss Can someone define housekeeping for me?

Have to wear suits to work - dry cleaning. Shoe mending - where to put that?

A friend calls. tells me off for being on here pretty much for 24 hours. She is right. She is always right.

Ignoring the mess all around me - taking the dog for a walk now, long walk. Will be watching out for other dogs - not to attack my one. Have to be careful - do not hhave Pet Insurance.

37 yo, newly single after 9 years, 16 yo teenager at college to support, a dog, a cat, a pet hedgehog, full time job - 40k debts

How?

Same as everyone else in here I guess, no point in going into why/how. Better to concentrate on “What now?”?

Applied for every consolidation loan there is trying to reduce monthly repayments of 1200 - “Computer says NO”. Ok. Computer says no to lower than current payments over longer time. I can not afford to pay 400 per month. Hmmm - how am I paying the 1200 now? Can’t they see I can not afford to pay that?

Another sleepless night. Will find an extra job.

Several more sleepless night - can not find an extra job to fit in with family and current job.

Nobody understands - “But you have 35k pa, surely you can not possibly have money problems?”. No, sorry - can not meet you for a coffe, can not afford even the tube fare.

Slepless night.

Last try - own bank, for the past 7 years. Surely they should be able to help as they can see all my income/outgoings etc…..10 minutes later - “Computer says no”.

OK

Google my dear friend - what should I do?

www.iva.co.uk

12 hours later, 47 cigarettes later - starting this blog.

Reading others - scared like hell to go for IVA. What if it is refused? What if circumstances change?

Will keep you posted.