S.O.A Outgoings advice req. please

Slay1963

Hi gang....

I'm redoing my outgoings ..... for the eleventeenth time :rolleyes:

It's the bit at the bottom of the page I keep changing. basically I want to know what I can have and how much I can get away with.
I'm defo heading for an IVA so want get as much allowed as.......allowed lol.

It's just the stuff in the box at the bottom...

Car insurance = 38 - mothly payments
Car repairs = 25 - it's a 12 year old banger!!
M.O.T. test = 34 - including estimated £350 garrage bill
Car Tax = 16
Laundry = 30 - about 8 quid per week/I aint got a washer
TV Licence = 16
Denplan = 17 - I have a cleft palate
Hair cuts = 8 - total guess!!
Holiday = 40 - how much can i get away with here??

Total = 224 - is this high/low/normal ????

Any help and imput much appreciated.

Thanks...Slay

LilyBart

Hi Slay,
The car costs look rather high to me - not in reality (ours is old and falling apart too) but in terms of what will be allowed. But I'm bumping this to see if someone else can have a look. Haven't seen a separate entry for laundry before. Does it follow that your elecrtricity bills are lower? Haircut for one male adult is, I think, £10, but others will know better. TV license should be £12. You have a good argument for Denplan, and should reiterate that when you speak to your OR. Re holiday, is this just for you or children too? Do you need dry cleaning for work clothes? If so, put something down for this too.
Lily

Slay1963

Thanks Lily....I don't think I'm gonna lower anything (might as well let the OR do that) LOL!

The laundry bill is one bin liner of washing per week, washed and dryed for about £8 per week (I only have dark clothes so every thing goes in one wash)LOL. I could hire a washer and dryer but that will put my leccy bill up - token metres aint the cheapest but got no choice there

if I leave it as it is I'll have a surplus of £379. What IPA payment am I looking at there??? my total debt is £75K!!

LilyBart

Phil or Bat, one of them, has a little chart that explains the percentages, but it's between 50% (the minimum, which applies once you have more than £99pcm surplus) and 70%. So that's a best case scenario of £190 IPA and a worst case scenario of £ouch! Anyway, good point about letting the OR do the reductions. Have you provided adequately for housekeeping, clothes etc on the main part of the SOA?

philnicandamy

Slay1963

Here's the whole shindigg:-

Section 7...Outgoings for single (divorced) male age 45.....75K Debt

Rent (inc conts ins) = 215 - Council
Housekeeping = 220 - bit of a guess here
Electric (no Gas) = 87 - pre pay token metre
Water bill = 29
BT Telephone = 30 - 120 per quarter/inc internet
Travel to Work = 110 - average 20 quid a week petrol
Clothing = 40 - another guess
Child Maintenance = 217 - 50 quid per week/ not CSA or Court Order???
Council Tax = 62

Other Essentials:-

Car insurance = 38 - mothly payments
Car repairs = 25 - it's a 12 year old banger!!
M.O.T. test = 34 - including estimated £350 garrage bill
Car Tax = 16
Laundry = 30 - about 8 quid per week/I aint got a washer
TV Licence = 13
Denplan = 17 - I have a cleft palate
Hair cuts = 10 - total guess!!
Holiday = 40 - how much can i get away with here??
Opticians = 8
Union Subs = 10 - 2.30 per week

TOTAL OUTGOING = 1241
TOTAL INCOME = 1550
SURPLUS = 309
IPA = 186 ????

Slay1963

Ah, thanks Phil, thats what I've been looking for.

So looking at an IPA of £251 per month for 3 years to clear a 75K debt.

The restriction order won't bother me in the slightest either

Think I can live with that

Cheers

LilyBart

Around £250, according to the wonderful Phil!
£187 has been floated recently as a housekeeping figure for a single person, though if your child(ren) is/are staying with you at weekends, for instance, you should up that figure accordingly and explain why in the interview.
Haircut £10
TV £12
Don't forget dry cleaning, if applicable, plus any membership of professional body/union.

Slay1963

Yes i have my daughter whenever my shifts and her life alloa - usually about once a month - I have to go pick her up which is a 140 mile round trip.

My current direct debit for the TV Licence is £15.50 per month?????

No dry cleaning but I got Union Subs to add.

Thanks for the input, I'm gettinmg there I think - at last!!

deedee_3

Try for £200ish on housekeeping.

Unfortunatly the OR will only allow for the standard £12 for TV liscence.

Contents insurance? You must have this, especially if going bankrupt and make sure it has accidental damage.

Breakdown cover?

Is your car insurance fully comp? Again a must in bankruptcy.

Leave the holiday as is and argue that it is you and your DC going on holiday but he may reduce to around £20ish

Pets?

What about opticians and prescriptions £15ish

Hope some of that helps.

Edited to say maybe try £220 for housekeeping.

Slay1963

Ah, just thought, is my TV licence a 10 month jobbie??

15.50 x 10 = 155

155 divide by 12 = 12.92...call £13 for round figures