OH Going BR - Questions

young_321

Hi All

My OH is wanting to go BR very soon. I already went BR last October and thanks to all your great advice at the time, managed to fill out my SOA easily and am now possibly pegged as early discharge! :beer:

However, as is always the case, my OH's own money dealings etc are slightly different to mine and so I have a few new questions for filling out his SOA.

1 - he was given an Gibson electric guitar for his 18th birthday and we have this named on our contents insurance due to it being worth around £2,000. I can't stress how much this guitar means to him and he would never want to give it up. Do we have to list this as an asset? Can we just 'leave it out of the SOA', so to speak ?

2 - Income & Expenditure - when I filled out my SOA my OH was unemployed and so quite rightly I listed every single outgoing on my form as I paid for everything, however, he has been in and out of work and has just started a new job (earning £16,500p.a). All the outgoings are still set up in my name (as it is easier to keep track of payments being made). How do I fill this part of the form out for him? Do I again list all outgoings in full as I did on my form or do I list half the amount?

3 - He will go BR in the same Court as I did, can they link our two cases together due to living at the same address?

I think of everything on the SOA the guitar issue and I&E issue are stressing me out the most. :mad: I know it might seem that, hey, he's now earning enough to pay his creditors - but not really; I'm now 23 weeks pregnant, due in May this year and thus my pay will go into maternity cover and our finances will completely alter. Also, we a little boy on the way it's going to start getting very expensive to live and to clear both our debts would be a 100% advantage.

Please help! :beer:

Thanks, Caroline

fiveyearplan

young_321 wrote: »

Hi All

My OH is wanting to go BR very soon. I already went BR last October and thanks to all your great advice at the time, managed to fill out my SOA easily and am now possibly pegged as early discharge! :beer:

However, as is always the case, my OH's own money dealings etc are slightly different to mine and so I have a few new questions for filling out his SOA.

1 - he was given an Gibson electric guitar for his 18th birthday and we have this named on our contents insurance due to it being worth around £2,000. I can't stress how much this guitar means to him and he would never want to give it up. Do we have to list this as an asset? Can we just 'leave it out of the SOA', so to speak ? Personally I wouldn't list it but others might give you different advice. My husband is a guitarist so I know how your OH feels about his guitar!

2 - Income & Expenditure - when I filled out my SOA my OH was unemployed and so quite rightly I listed every single outgoing on my form as I paid for everything, however, he has been in and out of work and has just started a new job (earning £16,500p.a). All the outgoings are still set up in my name (as it is easier to keep track of payments being made). How do I fill this part of the form out for him? Do I again list all outgoings in full as I did on my form or do I list half the amount? Yes, list all the outgoings except your personal stuff like your own travel, then on the income section he would put your contribution (not your whole salary)

3 - He will go BR in the same Court as I did, can they link our two cases together due to living at the same address? It doesn't matter if they connect the two of you.

I think of everything on the SOA the guitar issue and I&E issue are stressing me out the most. :mad: I know it might seem that, hey, he's now earning enough to pay his creditors - but not really; I'm now 23 weeks pregnant, CONGRATULATIONS due in May this year and thus my pay will go into maternity cover and our finances will completely alter. Also, we a little boy on the way it's going to start getting very expensive to live and to clear both our debts would be a 100% advantage.

Please help! :beer:

Thanks, Caroline

I've made some comments in red above.