not original at all - any advice greatfully received though - super long post sorry

w-inthepoo

dreamcatcher73 wrote: »

Then I don't know is the simple answer! It will depend on your OR. Do you need it to take children somewhere before heading off to the train station? Do you need to drive to the train station? If you can justify needing a car for work, then you will be allowed to have one, if not, then it's fairly certain you will lose it

Got you, I would walk the eldest to school, walk homw, drop the youngest at child minder, carry on to station.

Thanks for the advice

w-inthepoo

dreamcatcher73 wrote: »

A £99 or less surplus means no IPA

But in the circumstance of a sub £99 surplus, where would that fit with the comments on asking for rent to come from the surplus. If you see what I mean

Thanks again

dreamcatcher73

w-inthepoo wrote: »

Got you, I would walk the eldest to school, walk homw, drop the youngest at child minder, carry on to station.

Thanks for the advice

One thing you have to think about, if the OR says your car is not exempt then the costs for running the car will be taken off your SOA, so you would need add these costs to "other travel" - bus fares, taxis for shopping etc. Ohterwise your suplus would go over the magic £99 figure

w-inthepoo

Blimey. Do you get the opportunity to change this with the OR, I mean do you negotiate / discuss each point. Or is it a case of once you submit it to court as part of the BR it gets passed to the OR in a tablet of stone?

So should I just give up on the car and move straight to adding it in to other travel from the get go?

dreamcatcher73

w-inthepoo wrote: »

Blimey. Do you get the opportunity to change this with the OR, I mean do you negotiate / discuss each point. Or is it a case of once you submit it to court as part of the BR it gets passed to the OR in a tablet of stone?

So should I just give up on the car and move straight to adding it in to other travel from the get go?

Firstly, no it is not set in stone. The SOA you submit to the court can be altered at any time after, if your circumstances change, bills go up etc..

After you ave been granted BR at court you will have an interview with your OR, not straight after, they will send you an appointment in the post. During this interview the OR discusses your SOA, points out anything that they consider too high etc. I your circumstances have changed at this point you can make any amendments with them then, or at any time during your BR.

With regards to the car, do you want to keep it? If you do, you have to justify needing it to the OR, usually the only justification is if you need it for work..

You should not get rid of the car now, as that would be seen as disposing of an asset. I think this is ok to do if you sell it at market value and put the proceeds into your BR, but you may as well keep it and use it for now, and if the OR wants it, then so be it, let them have the hassle of selling it

When I say about other travel, just be aware that if the OR decides your car is not exempt, you need to be able to use up the surplus this will free up, with other travel. So for instance, if OR says I am taking your car, you can say, ok, but I need to add £xxx onto my SOA for bus fares etc..

Does this make sense? Sorry if I am confusing you



W

So_Sad_Angel

Hi w-itp (i`m rubbish at getting usernames right....hope you don`t mind the abbreviation!)

So welcome along....certainly getting your situation down on screen really helps....its the best therapy ever.

Can`t see anything else in your soa...except building insurance....unless this is rolled up in your mortgage payment of course.

HTHs

Angex

beentheredonethatstilhere

So Sad Angel the OP will be renting so will not need buildings insurance.

So_Sad_Angel

beentheredonethatstilhere wrote: »

So Sad Angel the OP will be renting so will not need buildings insurance.

I realise that now....re-read & did`nt realise was hypothetical SOA :o

Been in the sun too long today!!!:D

w-inthepoo

Yes rented rather than owned and hypothetical probably likely to head towards actual.

I know I'm probably preaching to the converted but I have spent so long focusing only on coping so am looking to take control.

Thanks for the comments on the car and soa / i&e all makes sense now. So will up numbers as Dalip suggests and prepare for the worst on the car.

Any comments on the path to BR or even if BR versus IVA make more sense

Thanks again
W

So_Sad_Angel

Hi,

IVA I guess would mean keeping the mortgage & sec Loan. Is that option viable to you in terms of affordability?

I would have loved to have stayed in my home (even though it caused so much debt) for the stability factor for my kids....but my mtge & sec loan were £1200 even at current rates..if/when rates go up I would be in deeper doodoo. (rent equiv only £425!!)

Maybe have a read at the IVA sub board to get an idea for comparison.

Get as much info as you can....knowledge is power !!