Advice for a newbie needed please!

Waspeze

If you're lucky you might get an estate agents like mine ... I told them not to bother credit checking me as I'd fail and that I had a guarantor instead .. they said that was fine so just paid a months deposit.

As Tigerfeeet said, it might be worth ringing round your local LA anonymously asking what their situation is regarding bankrupts.

blueopal5577

Worth registering with a housing association which would give you the security of a tenancy for life, lower rent and no deposit. You are effectively becoming 'homeless'... a horrible label I know, and you have children. Worth sending an income and expenditure form along with the application form if it proves that you are unable to afford private accommodation.

jmach

Fingers crossed Waspeze for the estate agents - we have seen 2 houses so gonna call them tomorrow to see where the land lies.

Blueopal5577, thanks for the reply, we have looked into housing association and will be putting our names on the list, however i thought that by doing a voluntary reposession we would effectivly be making ourselves intentionaly homeless and therefore the HA are not obliged to house us, so if we go on the list we will be at the bottom of it! - but still worth it in the end i suppose.

fudge59

blueopal5577 wrote: »

Worth registering with a housing association which would give you the security of a tenancy for life, lower rent and no deposit. You are effectively becoming 'homeless'... a horrible label I know, and you have children. Worth sending an income and expenditure form along with the application form if it proves that you are unable to afford private accommodation.

Its worth reading the small print with the housing associations - the ones in our area will not take you on if you're BR.

jmach

Well i called an estate agent this morning who were advertising the property that we liked to be told if we failed the credit check then they couldnt help! - What a great start that was!
But luckily the same property is also being advertised with another EA and we are going to view the property tonight!, told her we probably wouldnt pass the credit checks, and she said as long as there is no CCJ's we would probably be OK (we havent), she asked our housing situation at the mo, so i told her about the voluntary reposession, to which she said we would need a guarantor (which we have!) so fingers crossed if we like the house we will be OK for renting.
Thats the first thing - if it all goes smoothly!, next we need to start the ball rolling, stopping paying creditors to save for BC, and to sort out changing my sons school, which i am not looking forward to but im sure he will be fine, and will be much better off if we get to move to this new area.
There is just so much to do, my head is just spinning.

jmach

Well, we went to view the property and its great for us, so fingers crossed we can now get the ball rolling.

So i have been looking at our SOA in readiness for the bankruptcy, and hoped that if i post it on here you kind people can take a look and see what you think.

It is for 2 adults, 2 children and 1 dog!

Monthly income after tax................ 780
Partners monthly income after tax....... 1350
Benefits (CHB & Child Tax Credits)...... 165
Other income............................ 0
Total monthly income.................... 2295

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 54
Gas..................................... 64
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 30
Mobile phone............................ 25
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 500
Clothing................................ 80
Petrol/diesel........................... 160
Road tax................................ 15
Car Insurance........................... 47
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 280
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 45
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 11
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2148
Total monthly income.................... 2,295
Expenses (including secured debts)....... 2,148
Available for debt repayments........... 147
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]

Also - silly question - both myself and OH are going bankrupt so when filling out both of our SOA's do i just split all of the above outgoings in half? and put the same figures on each SOA but with our own salaries??TIAJenny

Waspeze

I think the general consensus on how to fill it out is put down all your own expenditure and all the joint expenditure and then there is a bit where you put on your OH's contribution.. this should equal half the joint expenditure...

Does that make sense?

Waspeze

jmach wrote: »

Well, we went to view the property and its great for us, so fingers crossed we can now get the ball rolling.

So i have been looking at our SOA in readiness for the bankruptcy, and hoped that if i post it on here you kind people can take a look and see what you think.

It is for 2 adults, 2 children and 1 dog!

Monthly income after tax................ 780
Partners monthly income after tax....... 1350
Benefits (CHB & Child Tax Credits)...... 165
Other income............................ 0
Total monthly income.................... 2295

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 54
Gas..................................... 64
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 30
Mobile phone............................ 25 Quite often mobiles aren't allowed so include it in "telephone" as one figure
TV Licence.............................. 14 shouldn't this be 12?
Satellite/Cable TV...................... 0
Internet Services....................... 18 as above for mobile UNLESS it is essential and you can prove it is.
Groceries etc. ......................... 500
Clothing................................ 80
Petrol/diesel........................... 160
Road tax................................ 15
Car Insurance........................... 47
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 280
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 45 10 each for dentist, 10 each for opticians plus prescription charges
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 11
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 60
Emergency fund.......................... 0
Total monthly expenses.................. 2148
Total monthly income.................... 2,295
Expenses (including secured debts)....... 2,148
Available for debt repayments........... 147
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.[/font]

Also - silly question - both myself and OH are going bankrupt so when filling out both of our SOA's do i just split all of the above outgoings in half? and put the same figures on each SOA but with our own salaries??TIAJenny

Do you have breakdown cover as well?

Just added a couple of comments

jmach

Thank you so much!, i have included the breakdown cover in with the insurance (should i keep it separate?)
So if i put telephone at £55 (inc mobile) will this figure look OK?
TV Licence should be less but we missed a payment when swopping bank accounts so they upped it until its paid.

I *think* i understand the filling in of the form now!! - time will tell - im sure ill be back!!:D

Thanks again:T

LilyBart

Hi jmach,
Haircuts could go up a bit? £10 for adult male, £12 for adult female, £3 for child. Re forms, it won't work out as 50/50 unless your earnings and your OH's earnings are identical. No sense in splitting all expenses in half if OH is earning 60% of the total income. It's a bit of a headache but what my OH and I did was to work it all out proportionally to earnings, ie if you earn 40% of your total household income, you pay 40% of the housekeeping, rent etc. By the end of a day checking and double-checking all my figures against each other I had three columns, one for us as a household (as you have above), one for me, one for him. I now break out in a rash at the mere sight of a calculator but the OR had no complaints!
Good luck
Lily