SOA Question

chrisb1357

Hi all.

I am on a DMP Plan with the CCCS for the last 4 years and i have never worked out my own SOA. I have got the link to the website that lets you do a SOA but i have a few questions to ask first.

If i am on a DMP Plan do i put in all my DMP figures and payments into the SOA or should i work the SOA without adding this and just to add each creditor and how much i have to pay left to it

Chris

kimdegsidash

Hi Chris
I would suggest you do the SOA based on what the minimum debt repayments should have been if you were not on a DMP. This will then show

a) how much you have left over after priority expenses to service unsecured debt, and
b) whether you can afford the current payments under the DMP.

Then post it on here for friendly advice on how to cut your outgoings or increase income.

Clariman

... and remember to use the format for MSE button in order to copy and paste into here.

chrisb1357

Hi,

Do you mean the minimum debt repayments each creditor gets on my DMP. i dont have a clue what the min payments where in the pass as i have never had to speak to them for a good few years as the CCCS has done this. I do know what the CCCS offer and pay them each month

Chris

kimdegsidash wrote: »

Hi Chris
I would suggest you do the SOA based on what the minimum debt repayments should have been if you were not on a DMP. This will then show

a) how much you have left over after priority expenses to service unsecured debt, and
b) whether you can afford the current payments under the DMP.

Then post it on here for friendly advice on how to cut your outgoings or increase income.