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  • FIRST POST
    • Helen14
    • By Helen14 5th Jan 18, 3:43 PM
    • 9Posts
    • 0Thanks
    Helen14
    Payment Order Calculations
    • #1
    • 5th Jan 18, 3:43 PM
    Payment Order Calculations 5th Jan 18 at 3:43 PM
    Dear Gurus,

    Could you please have a look at my Payment order calculations (New Years resolution to apply for BR). I was trying to max out (obviously), but not over the top to raise suspicions. Am I missing anything?
    Household: myself and almost 6-year old child. I am working full time, she is at school and afterschool clubs.

    Household Details
    Name Me
    Number of people in my household 2

    Income Monthly
    Wages / Salary 1920
    Child Benefit 82
    Total Income 2,002.00

    Outgoings Monthly
    Rent 725
    Council Tax 74
    Food, Toiletries and Cleaning 325
    Gas 64
    Water 38
    TV Licence (12 for licence + 6 netflix) 18
    Clothing and Footwear 75
    Telephone (Landline only) 19
    Telephone (Mobile) 20
    Travel - Public (occasional travel by public transport 10
    Afterschool Clubs/Trips 5
    Childcare (£13x5x38weeks afterschool + 11x£125 holiday clubs) 80
    Holidays 30
    Hairdressing & Personal Care 20
    Sports, Entertainment, Hobbies (child goes to gymnastics lessons and swimming) 45
    Dry Cleaning 5
    Dentist 10
    Opticians 10
    Broadband Costs 5
    Car insurance 45
    Car road tax 20
    Diesel 100
    Servicing 50
    Total Outgoing 1,793.00

    Disposable Income Monthly
    Total Income 2,002.00
    - Total Outgoing 1,793.00
    - £10 Emergency and Sundries Allowance for each dependant person in household 20.00
    Disposable Income 189.00

    Potential Funds For IPA/IPO Monthly
    Disposable Income 189.00
    - Official Receiver Standard Surplus Allowance 20.00
    Potential Funds For IPA/IPO 169.00

    Am I missing anything? Is anything too excessive?
Page 1
    • luvchocolate
    • By luvchocolate 5th Jan 18, 3:56 PM
    • 1,490 Posts
    • 1,351 Thanks
    luvchocolate
    • #2
    • 5th Jan 18, 3:56 PM
    • #2
    • 5th Jan 18, 3:56 PM
    Contents insurance?
    What value is your car? You are usually allowed one to the value of £1,000, and costs can be included in your budget if the O.R thinks you have a need for it...not a want.
    Just to clarify an I.P.A is sought if you have a surplus of £20 or more.......the £20 is taken in the I.P.A it is not left for your use.
    • Helen14
    • By Helen14 5th Jan 18, 4:03 PM
    • 9 Posts
    • 0 Thanks
    Helen14
    • #3
    • 5th Jan 18, 4:03 PM
    • #3
    • 5th Jan 18, 4:03 PM
    Thank you, luvchocolate,

    I do not have contents insurance at the moment. Should I get it?

    The car is a must for me (in my humble opinion of course ). I take my child to her school, which is in near by village, 10 minutes by car. If I had to take public transport then it is 2 buses and over an hour journey time. Also 150 pounds a month for the bus pass. And I would be late to work every day. I am sure my boss would not be happy.
    I do not want to change the school as the local one looks a bit rough and had "inadequate" OFSTED few years ago (apparently improved after that, but I still do not want to move her).
    • Helen14
    • By Helen14 5th Jan 18, 4:08 PM
    • 9 Posts
    • 0 Thanks
    Helen14
    • #4
    • 5th Jan 18, 4:08 PM
    • #4
    • 5th Jan 18, 4:08 PM
    Forgot to mention. Car is probably over 1000, but not too much. 1500-1700 maybe... It is 12-year old Golf Plus. 100+K miles, obviously reasonably dated from inside and outside.
    I have just spent some money to change timing belt and the starter motor to make sure I don't get problems while bankrupt.
    • haggis0073
    • By haggis0073 5th Jan 18, 4:09 PM
    • 80 Posts
    • 58 Thanks
    haggis0073
    • #5
    • 5th Jan 18, 4:09 PM
    • #5
    • 5th Jan 18, 4:09 PM
    i would up your fuel by about 30, you need to include things likje school uniforms as this is seperate to clothing, what about electric?
    • Helen14
    • By Helen14 5th Jan 18, 4:39 PM
    • 9 Posts
    • 0 Thanks
    Helen14
    • #6
    • 5th Jan 18, 4:39 PM
    • #6
    • 5th Jan 18, 4:39 PM
    Thank you haggis0073,

    I thought uniforms included in the Clothing, but that is great if not...
    I have Dual Fuel, so I pay combined DD of 64 currently. Not sure if this changes after winter
    • luvchocolate
    • By luvchocolate 5th Jan 18, 5:19 PM
    • 1,490 Posts
    • 1,351 Thanks
    luvchocolate
    • #7
    • 5th Jan 18, 5:19 PM
    • #7
    • 5th Jan 18, 5:19 PM
    Forgot to mention. Car is probably over 1000, but not too much. 1500-1700 maybe... It is 12-year old Golf Plus. 100+K miles, obviously reasonably dated from inside and outside.
    I have just spent some money to change timing belt and the starter motor to make sure I don't get problems while bankrupt.
    Originally posted by Helen14
    Hi again yes get contents insurance before you go B.R some ask if anyone in your household have EVER been B.R and sometimes will not offer monthly payments...so get this in place.
    I had an amazing examiner 5 years ago he allowed my car valued at £1500 and moved some of my figures around to avoid an I.P.A but to be honest my incomings were only around £1,000.
    • Steven_from_scotland
    • By Steven_from_scotland 5th Jan 18, 11:04 PM
    • 47 Posts
    • 16 Thanks
    Steven_from_scotland
    • #8
    • 5th Jan 18, 11:04 PM
    • #8
    • 5th Jan 18, 11:04 PM
    Double your diesel costs to £200, I get a small amount for cigarettes/lottery separate too of £20pm, £20pm also for your pet dog/cat.

    Every little helps to bring down your ipa
    • debt doctor
    • By debt doctor 6th Jan 18, 11:35 AM
    • 4,189 Posts
    • 5,862 Thanks
    debt doctor
    • #9
    • 6th Jan 18, 11:35 AM
    • #9
    • 6th Jan 18, 11:35 AM
    Hi Helen,
    You should add £100 to your food / housekeeping - your current figure is reasonable for a single person, you need to add £100 for your child's food costs.
    Just put it in as one figure though - don't split it.
    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
    • Helen14
    • By Helen14 8th Jan 18, 12:33 PM
    • 9 Posts
    • 0 Thanks
    Helen14
    Thank you all for contribution.
    I have taken the guide figures from CABmoney Bankruptcy Payment Order Calculator.
    But this is probably out of date now (prices are just ridiculous nowadays!)

    If I apply those figures (and they get accepted) I might even not pay the BPO
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