Follow Up: Im in Such a MESS.. ur opinions pls

DEBT_23

ok from last thread
http://forums.moneysavingexpert.com/showthread.html?t=1050371

My friend has today offered me a Spare room for as long as required at a price we have yet talked about. tho i know it will be alot cheaper than rent with bills etc.
as i only have 1x£700 at end of month and both Landlord and my solicitor wanting it. my friend doesnt want bond etc just XXX each month.

my question is. will the OR take most of this left over income of me when i have gone BR ? as this is a cheaper living option for me.. tho i only intend to be here for 6 months max. !! then go into renting.

my friend isnt aware im going BR i havnt told anyone. !
i have a certain amount of money i pay my ex each month as i owe them nearly £2500, i know this wont go in BR and i wil continue to pay it each month.. will the OR allow me to continue to repay my ex after BR.loan ( loan took out in their name-tho it was for me)

Is moving into my friends a good idea over renting a house. after BR wont i be better of with surplus income appose to OR taking it all while im at my friends for 6 months ?!?!

also when i eventually sell my car i plan to get a cheaper car..with the left over i planned to repay what i owe my dad tho he isnt pushing for it. will the OR go mad over that ?!

advise please x

peachyprice

DEBT_23 wrote: »

ok from last thread
http://forums.moneysavingexpert.com/showthread.html?t=1050371

My friend has today offered me a Spare room for as long as required at a price we have yet talked about. tho i know it will be alot cheaper than rent with bills etc.
as i only have 1x£700 at end of month and both Landlord and my solicitor wanting it. my friend doesnt want bond etc just XXX each month.

my question is. will the OR take most of this left over income of me when i have gone BR ? as this is a cheaper living option for me.. tho i only intend to be here for 6 months max. !! then go into renting. Yes, you are more likely to end up with an IPA because your surplus will be much higher

my friend isnt aware im going BR i havnt told anyone. ! The OR may well writer to her, as she is in effect your land lord

i have a certain amount of money i pay my ex each month as i owe them nearly £2500, i know this wont go in BR and i wil continue to pay it each month.. will the OR allow me to continue to repay my ex after BR.loan ( loan took out in their name-tho it was for me) You will not be able to include this on your I&E, your ex becomes one of your creditors and is included in your BR. Anything you do pay will have to come out of your surplus.

Is moving into my friends a good idea over renting a house. after BR wont i be better of with surplus income appose to OR taking it all while im at my friends for 6 months ?!?! The OR won't take all your suplus, only a percentage.

also when i eventually sell my car i plan to get a cheaper car..with the left over i planned to repay what i owe my dad tho he isnt pushing for it. will the OR go mad over that ?! Yes, you cannot favour your dad over your other creditors, they can ask your dad for it back.

advise please x

Hope this helps some.

philnicandamy

Those figures are based on surplus income PER MONTH

DEBT_23

So me owing my family and ex doesnt matter they wont allow me to repay after going BR?

peachyprice

You can repay them, but it will have to come out of your surplus, you can't put down in your I&E £100 loan to ex, £50 loan to dad (just for example).

If your surplus is £120, the OR will take £60, you can pay your dad and ex out of the remaining £60, along with anything else not allowed on your I&E.

DEBT_23

ahh right.
If i live with my friend what will the OR ask for for proof or rent etc?

PixiePie

Debt_23, from your posts I am really worried you haven't sought any professional advice on going BR - whilst this forum is very helpful and supportive it is NOT A SUBSTITUTE for gained professional advice from one of the free charities that offer it (Don't think I'm allowed to add links, so have stolen the names from Fermi's sig, but taken the links out - Fermi can you confirm whether we are allowed to link to these as they are in your sig or not in posts please? fank you)

Free/impartial debt advice: Consumer Credit Counselling Service (CCCS) / National Debtline / Your local CAB

Please don't think I'm having a go Debt, and if you have I apologise, I am only trying to help, but when you petition your BR if you have not saught the advice of one of these agencies the judge can refuse your BR on the grounds that you do not fully understand the implications of it etc etc.

With regards to your post about paying your ex and dad - the same as the others have said, you cannot pay them unless it comes from your surplus, offically your debts to them are included in the BR and if you pay them off before going BR the OR will seek to recover the monies from them directly.

The OR will probably ask for a contract for your rental agreement (you can get them from WH Smiths and fill them out) or failing that a letter stating that you pay x amount and what that includes - we don't have a contract with our landlord as a) he is pants and dodgy and b) it's a rolling contract:think: so he wrote to the landlords agent (whom I had given the details for and is the person who collects our rent from us each month) and he had to write back and confirm the details. He also wanted to see the bank account that the rent had been coming out of (we paid by cheque) to see if the story matched up.