60 year D.M.P.....

Merlinexcalibur

I don't wish to be rude but this:

Groceries etc. ......................... 394

And what Mrs Tine was correct. CCCS would tell you the same, as they work to the guidelines set out by the government for 'allowances'.

What are you buying? Caviar?

must admit CAB's allowances on food etc £180.00 for 2 adults didn't make me smile much.

You won't like this much, either. In today's climate be thankful you even have that much to spend on your food! If you want to sort out your debts, you will need to have a reality check. That's not being sarcastic, just putting it very plainly.

Bankruptcy is one option but ... it always sounds clear cut on paper. However, it is different for everyone and may not be suitable. It's up to you, but I really would start seriously looking more at what you spend.

I have been rich ... and, even now, I still want expensive food items because it takes a long while to get that out of your system. But I also know what being poor and rich is like. Have experienced both. But, seriously, you need to look at your expenses a lot more and seek further advice either from MSE, CCCS.

Like I said, I am not being funny but ... rethinks are needed.

T-T_4

points taken...... like i said earlier im going by other soa's .... yes 394 for housekeeping does seem generous but maybe ive got false hope from other people stating this is what was accepted on their soa's from the OR dealing with them??.... updated ONS figures from feb 2008 states Housekeeping for 2 adults no LO £394.... confused.

Richard_Cocks

I think you're either confused or haven't really had a lightbulb moment, you should *want* to clear your debt as fast as possible, you shouldn't want to be spending 400 a month on groceries!

Are you posting what you think you'll be allowed, or what you're actually spending?

Have a good rethink, and post what you're actually spending, then work on getting debt down as much as possible!

JES_F1

Hello :wave:

I wondered whom your DMP was with. I'm on one with the CCCS and know I wouldn't be able to enter such high values without raising an eyebrow or two! I'm surprised creditors haven't queried it. Your amount for groceries is whopping - I used to be able to spend money like it was going out of fashion but would have struggled to spend this amount. Are you shopping in Fortnum and Mason?!

Apologies if I've misunderstood anything. Some great advice on here so take it, and best wishes for the future.

debrag

T-T wrote: »

points taken...... like i said earlier im going by other soa's .... yes 394 for housekeeping does seem generous but maybe ive got false hope from other people stating this is what was accepted on their soa's from the OR dealing with them??.... updated ONS figures from feb 2008 states Housekeeping for 2 adults no LO £394.... confused.

Are you aiming to go bankrupt then? are you maxing all your allowances i.e food and is 395 what YOU pay or what you have just seen on other SOA's which appear to be BR SOAs not DMP or standard ones.

This can't be you SOA for the DMP you are on now as the amounts are too high

MrsTinks

Right now we're either trying to help you repay your debts or you want to go BR? There is absolutely NO reason you can't continue your DMP as things stand, unless you for some misinformed reason think BR is an "easy" out?
And my original question stands: are the debts in joint names or solely in yours... And you also mentioned mortgage in the first post but you list rent... which is it? Do you own a property or do you rent?

T-T_4

i've posted what i thought was acceptable? i know each case differs but i've followed posts here for a good 4 or 5 months and it seemed to be across the board for x2 adults..... folks with LO's etc... the knowledge of some on these threads have been a real eye opener.. Believe me i expected to continue the DMP until i was dead,( or won the lottery )lol..... i've even waited for meat heads to force themselves into my home and take items to sell on a jumble sale as such..... all advice is welcome so don't worry about offending

T-T_4

no mrstine..... i certainly do not think BR is an easy out...... otherwise a number of years ago i would have applied, stigma & everyone knowing my business persuaded me otherwise..all debts are in my name, & because i was struggling a few years ago with mortgage i was advised to sell & rent.... things change & such is life i can accept that..... there just seems to be some really knowledgeable folk on here i thought i'd seek some advice

T-T_4

hello jesf1.... the soa i attempted to do was for a bankrupt petition not the DMP.. i got my original DMP through the local council and to be truthful, even the council worker couldn't believe where the CAB kids got their figures from?

fatbelly

Hi

• 65k of debt
  
• in rented accommodation
  
• income and expenditure balancing but no sensible offer possible toward your debts.

Some (most?) posters here think you're overspending. I think you've produced an SoA from observing the bankruptcy board - one that would probably be accepted by the OR and avoid an IPO. I don't think this really represents your actual budget.

For example you have been paying 92 pcm without further borrowing or (I suspect) saving.

So let's say there's 92 pcm available to your creditors and maybe a further 100 or so with strict budgeting. Call it 200.

Even if all creditors froze interest it would take 27 years to clear your debts.

The courts' definition of 'reasonable period' is 3-5 years.

My question to you is:

Why should you NOT go bankrupt?