Fed Up and serious advice needed.

Godiva500

Both my OH and me are in a real mess.... We don't know whether we should both go for DRO or just me.
This is my SOA
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1 - Car needed - OH still looking for work, and I am not very mobile with arthritis and its getting worse. I am not bad enough yet for disability but think it won't be long.
Monthly Income Details
Monthly income after tax................ 1024
Partners contribution....... 280
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1304
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 322.48
Management charge (leasehold property).. 0
Council tax............................. 147
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 29
Telephone (land line)................... 12
Mobile phone............................ 0
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 20 - includes all phone calls
Groceries etc. ......................... 385 special diet plus 2 cats
Clothing................................ 20
Petrol/diesel........................... 50
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1321.48

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 510
Other assets............................ 0
Total Assets............................ 510

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC cc........................4850......125.......0
HSBC OD........................2000......0.........0
RBS cc.........................761.88....17........0
IF Loan........................3277......246.......0
Nat West cc....................1909......43........0
Total unsecured debts..........12797.88..431.......-

Monthly Budget Summary
Total monthly income.................... 1,304
Expenses (including HP & secured debts). 1,321.48
Available for debt repayments........... -17.48
Monthly UNsecured debt repayments....... 431
Amount short for making debt repayments. -448.48
Personal Balance Sheet Summary
Total assets (things you own)........... 510
Total HP & Secured debt................. -0
Total Unsecured debt.................... -12,797.88
Net Assets.............................. -12,287.88
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

My Oh was going to try to manage if i got DRO. He has an overdraft of £1500, and he has been very close to that for ages, and also a loan that has about 9 month still to pay.. He went over by a couple of pounds once and then the charges started - £100, £75 etc. He is just getting worse off. He got a phone call today from HSBC, and he explained all this , and after about 40 mins talking it through, they suggested that the overdaft is added to his loan - extend the loan to 20 months, but the monthly repayments will be about £20 a month less - so he could probably just about manage that - maybe. He said yes, but the papers are being sent to him, so he hasn't signed anything yet. I told him that it was a bad idea, and i think deep down he knows that, but as he says we have to eat, and we have nothing till the DRO comes into force on April 6th. That's assuming I qualify ( I think I do) and that its granted.
What would you do?

ps We are both over 63 and on pensions so little liklihood of any further income, tho OH is trying to get p/t work.

philnicandamy

Godiva500 wrote: »

Both my OH and me are in a real mess.... We don't know whether we should both go for DRO or just me.
This is my SOA
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1 - Car needed - OH still looking for work, and I am not very mobile with arthritis and its getting worse. I am not bad enough yet for disability but think it won't be long. Unsure....you would need to tell the OR why you NEED a car rather than want to keep if that makes sense?....any medical information to back up your conditions will help
Monthly Income Details
Monthly income after tax................ 1024
Partners contribution....... 280
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1304
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 322.48
Management charge (leasehold property).. 0
Council tax............................. 147
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 29
Telephone (land line)................... 12
Mobile phone............................ 0
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 20 - includes all phone calls Internet NOT normally allowed unless its for work or schoolwork (would have to come from any surplus you have) i'd lump it into the telephone
Groceries etc. ......................... 385 special diet plus 2 cats Again the OR will ask for proof of a special diet
Clothing................................ 20 A little low...
Petrol/diesel........................... 50
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 30
Buildings insurance..................... 0
Contents insurance...................... 10 does this have accidental damage cover? if once your BR something happens it's difficult to find the cash to replace things
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5 not normally allowed
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1321.48

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 510
Other assets............................ 0
Total Assets............................ 510

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC cc........................4850......125.......0
HSBC OD........................2000......0.........0
RBS cc.........................761.88....17........0
IF Loan........................3277......246.......0
Nat West cc....................1909......43........0
Total unsecured debts..........12797.88..431.......-

Monthly Budget Summary
Total monthly income.................... 1,304
Expenses (including HP & secured debts). 1,321.48
Available for debt repayments........... -17.48
Monthly UNsecured debt repayments....... 431
Amount short for making debt repayments. -448.48
Personal Balance Sheet Summary
Total assets (things you own)........... 510
Total HP & Secured debt................. -0
Total Unsecured debt.................... -12,797.88
Net Assets.............................. -12,287.88
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

My Oh was going to try to manage if i got DRO. He has an overdraft of £1500, and he has been very close to that for ages, and also a loan that has about 9 month still to pay.. He went over by a couple of pounds once and then the charges started - £100, £75 etc. He is just getting worse off. He got a phone call today from HSBC, and he explained all this , and after about 40 mins talking it through, they suggested that the overdaft is added to his loan - extend the loan to 20 months, but the monthly repayments will be about £20 a month less - so he could probably just about manage that - maybe. He said yes, but the papers are being sent to him, so he hasn't signed anything yet. I told him that it was a bad idea, and i think deep down he knows that, but as he says we have to eat, and we have nothing till the DRO comes into force on April 6th. That's assuming I qualify ( I think I do) and that its granted.
What would you do?

ps We are both over 63 and on pensions so little liklihood of any further income, tho OH is trying to get p/t work.

Just a few thoughts

dreamcatcher73

Couldn't you bump the telephone one up to include the internet cost?

dreamcatcher73

Do they actually check if you have internet? I never put any cost down for internet as I know it wouldn't be allowed, but do they actually check??

philnicandamy

Hmm good question...dont think they'd ever check but payments will show on your bank statements etc BUT because the OPs telephone entry is pretty low its easy enough to lump them together...remember though everything you tell the OR is on trust so they shouldnt question anything unless your taking the mickey

lisamummytoarchieplusbump

no unless something is very high they will ask for reciepts but other than that they take your word for it

dreamcatcher73

could just say you have cancelled it, even if it shows on old statements...

I'm sure that access to the internet is becoming a government prioity though isn't it? so could just argue you are following government policy..

lisamummytoarchieplusbump

right seen as you are over £17 if it is a case that the OR decides you cant have the car maybe tweek the SOA about as he may say you cant afford it. i know its only £17 but if they are looking at you getting rid of the car lets not give them another reason, as i had on my form that my dad pays tax/mot all i payed was insurance and abit of petrol but he said no i cant have it but then changed hes mind

Godiva500

Ok - I can certaily do the adjustments you suggested, but I am not happy that OH is seriously considering taking on an extended loan. Would like opinions on this.

Thanks all

RAS

Godiva500 wrote: »

My Oh was going to try to manage if i got DRO. He has an overdraft of £1500, and he has been very close to that for ages, and also a loan that has about 9 month still to pay.. He went over by a couple of pounds once and then the charges started - £100, £75 etc. He is just getting worse off. He got a phone call today from HSBC, and he explained all this , and after about 40 mins talking it through, they suggested that the overdaft is added to his loan - extend the loan to 20 months, but the monthly repayments will be about £20 a month less - so he could probably just about manage that - maybe. He said yes, but the papers are being sent to him, so he hasn't signed anything yet.

Hi need to clarify a few things and think the DFW board would be more use for you at the moment.

How come you have no further incme until April 6?

Are you not entitled to ANY benefits? Have you check emergency loans from Social Service etc?

If it is the OD problem, then OH needs a new bank account (recommend the Co-op) and to get all his salary paid in there. You also need an account if you are recieving benefits, so you do not have any joint accounts.

That halts the charges and means you can live off his income instead of getting it nicked for charges. Then immedately start a claim for reclaiming the charges on hardship grounds and contact the OFt if he is unsuccessful.

Godiva500

New bank Account - that;'s it - thank you thank you thank you. That means not extending the loan pheewww. Why didn't i think of that. Ras you are a STAR!!!

We are not entitled to any benefits cos OH has to pay ex£400 a month court order and benefts include that as income, so it puts us just outside the benefits level.

Thanks again