new member advice needed

skinty_3

hi i am currently in talks with the cccs abought setting up a dmp/iva and i am looking for advice re my soe the only thing i have not added is cigarettes 66 pounds a month.any help would be welcomed. re using my soe how much would i be expected to pay a month on a dmp/iva. also how much is the maximum they are likely to allow for for food clothing ect .im not trying to cheat anyone im just want to make sure i can afford the monthly payments . thanks in advanceStatement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1260
Partners monthly income after tax....... 500
Benefits................................ 235
Other income............................ 0
Total monthly income.................... 1995
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 273
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 70
Gas..................................... 70
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 11
Mobile phone............................ 45
TV Licence.............................. 12
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 60
Petrol/diesel........................... 60
Road tax................................ 12
Car Insurance........................... 40
Car maintenance (including MOT)......... 20
Car parking............................. 20
Other travel............................ 50
Childcare/nursery....................... 40
Other child related expenses............ 45
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 38
Other insurance......................... 20
Presents (birthday, christmas etc)...... 60
Haircuts................................ 25
Entertainment........................... 60
Holiday................................. 50
Emergency fund.......................... 40
Total monthly expenses.................. 1722

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 1000.....(0)........0
Total secured & HP debts...... 1000......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................9000......175.......0
loan...........................12200.....200.......0
loan...........................4000......56........0
credit card....................600.......30........0
credit card....................550.......28........0
credit card....................1220......50........0
credit card....................1700......50........0
store card.....................450.......25........0
Total unsecured debts..........29720.....614.......-

Monthly Budget Summary
Total monthly income.................... 1,995
Expenses (including HP & secured debts). 1,722
Available for debt repayments........... 273
Monthly UNsecured debt repayments....... 614
Amount short for making debt repayments. -341
Personal Balance Sheet Summary
Total assets (things you own)........... 2,500
Total HP & Secured debt................. -1,000
Total Unsecured debt.................... -29,720
Net Assets.............................. -27,220
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser. for any help.

lesleyvhalifax

bump to get u to first page

Fire_Fox

I think you have been pretty generous anyway - can you afford a holiday, to smoke, such a large entertainment and clothing budget, to spend so much on gifts?

GeorgeUK

Rent.................................... 273
Is this correct?

Council tax............................. 70
If paying over 10 months, can you ask to pay it over 12?

Electricity............................. 70
Gas..................................... 70
Look at the comparison sites to see if you can get a better deal (uswitch, moneysupermarket)

Mobile phone............................ 45
PAYG?

Telephone (land line)................... 11
Satellite/Cable TV...................... 35
Internet Services....................... 0
Are these combined in a package?

Groceries etc. ......................... 400
This can be reduced. Have a look at the old style board for meal plan ideas. Have you moved down a brand (shops own)?

Clothing................................ 60
Every month? Can this be reduced?

Road tax................................ 12
Car Insurance........................... 40
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 13
Life assurance ......................... 38
Other insurance......................... 20
Again, check the comparison sites to see if you are getting the best deal and value for money.

Presents (birthday, christmas etc)...... 60
Surely not every month?

Holiday................................. 50
Can't afford a holiday right now

With some careful budgeting, you may get close to breaking even.
Have you missed payments on your credit cards or loans?

It may be worthwhile keeping a spending diary so you know exactly where all your money is going. This may help you to keep a tighter reign on the budget and possibly see if you are wasting money anywhere.

skinty_3

Fire_Fox wrote: »

I think you have been pretty generous anyway - can you afford a holiday, to smoke, such a large entertainment and clothing budget, to spend so much on gifts?

hi clothing allowance includes school uniforms for a 9 year old girl and a 8 year old boy . re birthdays chritmas budget 780 doe's not seem to bad. cigarettes reduced from 130 per month. hopefully when my plan is up and running stress levels will reduce and i can give up again.i did for 4 years uptill last june.re .holiday budget this includes days out. school summer holidays seem to go on forever. ps in my soe there is no place i can see for school dinners 64 per month .thanks for any replies /help received.off now to watch wales on tv .

Deep_In_Debt

£780 on birthdays may not seem much to you but it is a lot and you can't really afford it. I'm sure you can reduce it - I buy a lot of presents in charity shops or make stuff.

Holiday budget - are there no free "clubs" that your children can join? Your local library may have leaflets on things to do for free with the kids. Football in the park is free.

Can you get rid of Sky? You can get freeview through the box.

Can your children take packed lunch to school - that would save a bit per month.

Clothing - I appreciate school uniform is expensive but when I was at school (a long time ago!) my mum used to buy second hand uniform and you would never have known it was second hand and it was a fraction of the cost.

lucielle

We are a family of 6 and our monthly food budget is £336
L

fatbelly

£1000 of HP debt but no HP repayments?

skinty_3

hi the 1000 hp debt is not i suppose really hp its for 2 sofas from dfs 28 a month untill october when hopefully i can put it towards my dmp .appoligies for spelling i just had a very cheap bottle of wine watching the rugby. thanks for the help .off to bed now goodnight all