BR 8th may

comet-1

hi all
myself and my wife went BR on the 8th may, and we have recieved a letter each from the OR today, stating that at this time there is no need to interview us but would like the last 12 months wage slips and bank statments from me, and the last 6 months for my wife.
is there anything to worry about ? or is this common practice.

mike

gettingoutofdebt

The 12 months payslips and bank statements are normal and with the OR not needing to interview you it means that the information you provided on the SOA enabled the OR to understand exactly how you got into debt so this is a good sign.

So_Sad_Angel

comet-1 wrote: »

hi all
myself and my wife went BR on the 8th may, and we have recieved a letter each from the OR today, stating that at this time there is no need to interview us but would like the last 12 months wage slips and bank statments from me, and the last 6 months for my wife.
is there anything to worry about ? or is this common practice.

mike

Hi Comet....sounds like a good sign to me. The ORs are so busy I think that it will become more common to forego the interview.

Take care, Angiexx

comet-1

thanks
will put my soa on here so you can have a look at and make sure i haven't got it worng, if thats ok

comet-1

here goes with our SOA, we both went BR and most of our debts were joint.Statement of Affairs and Personal Balance SheetHousehold InformationNumber of adults in household........... 2 + eldest daughter on job seekers allowance (not included in any figures)Number of children in household......... 2Number of cars owned.................... 2r reg bmw & k reg volvo both used for workMonthly Income DetailsMonthly income after tax................ 1404Partners monthly income after tax....... 400Benefits................................ 257Other income............................ 0Total monthly income.................... 2061Monthly Expense DetailsMortgage................................ 0Secured/HP loan repayments.............. 0Rent.................................... 695Management charge (leasehold property).. 0Council tax............................. 146Electricity............................. 100Gas..................................... 85Oil..................................... 0Water rates............................. 46Telephone (land line)................... 0Mobile phone............................ 65TV Licence.............................. 11.83Satellite/Cable TV...................... 0Internet Services....................... 0Groceries etc. ......................... 500Clothing................................ 100Petrol/diesel........................... 160Road tax................................ 16.83Car Insurance........................... 68Car maintenance (including MOT)......... 0Car parking............................. 0Other travel............................ 40Childcare/nursery....................... 0Other child related expenses............ 0Medical (prescriptions, dentist etc).... 0Pet insurance/vet bills................. 8.94Buildings insurance..................... 0Contents insurance...................... 0Life assurance ......................... 0Other insurance......................... 14.4Presents (birthday, christmas etc)...... 0Haircuts................................ 0Entertainment........................... 0Holiday................................. 0Emergency fund.......................... 0Total monthly expenses.................. 2057AssetsCash.................................... 0House value (Gross)..................... 0Shares and bonds........................ 0Car(s).................................. 0Other assets............................ 0Total Assets............................ 0No Secured nor Hire Purchase DebtsUnsecured DebtsDescription....................Debt......Monthly...APRTotal unsecured debts..........0.........0.........- Monthly Budget SummaryTotal monthly income.................... 2,061Expenses (including HP & secured debts). 2,057Available for debt repayments........... 4Monthly UNsecured debt repayments....... 0Amount left after debt repayments....... 4Personal Balance Sheet SummaryTotal assets (things you own)........... 0Total HP & Secured debt................. -0Total Unsecured debt.................... -0Net Assets.............................. 0our house was repossessed in nov2007 was later sold with a £5000 shortfall but mortage company wants £35000, we also had a secured loan (which when the house was sold converted to an unsecured loan ) of £31000 then the usual debts of credit cards etc totalling £78400 (£66000 due to house repo)any thoughts on the above would be welcomethanksmike

betterlatethannever

comet-1 wrote: »

here goes with our SOA, we both went BR and most of our debts were joint.Statement of Affairs and Personal Balance SheetHousehold InformationNumber of adults in household........... 2 + eldest daughter on job seekers allowance (not included in any figures)
Number of children in household......... 2
Number of cars owned.................... 2r reg bmw & k reg volvo both used for work
Monthly Income DetailsMonthly income after tax................ 1404
Partners monthly income after tax....... 400
Benefits................................ 257
Other income............................ 0
Total monthly income.................... 2061
Monthly Expense DetailsMortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 695
Management charge (leasehold property).. 0
Council tax............................. 146
Electricity............................. 100
Gas..................................... 85
Oil..................................... 0
Water rates............................. 46
Telephone (land line)................... 0
Mobile phone............................ 65
TV Licence.............................. 11.83
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 100
Petrol/diesel........................... 160
Road tax................................ 16.83
Car Insurance........................... 68
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 8.94
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 14.4
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2057
Assets
Cash.................................... 0House value (Gross)..................... 0Shares and bonds........................ 0Car(s).................................. 0Other assets............................ 0Total Assets............................ 0No Secured nor Hire Purchase DebtsUnsecured DebtsDescription....................Debt......Monthly...APRTotal unsecured debts..........0.........0.........- Monthly Budget SummaryTotal monthly income.................... 2,061Expenses (including HP & secured debts). 2,057Available for debt repayments........... 4Monthly UNsecured debt repayments....... 0Amount left after debt repayments....... 4Personal Balance Sheet SummaryTotal assets (things you own)........... 0Total HP & Secured debt................. -0Total Unsecured debt.................... -0Net Assets.............................. 0our house was repossessed in nov2007 was later sold with a £5000 shortfall but mortage company wants £35000, we also had a secured loan (which when the house was sold converted to an unsecured loan ) of £31000 then the usual debts of credit cards etc totalling £78400 (£66000 due to house repo)any thoughts on the above would be welcomethanksmike

Just done a little editing to make it easier to read, but can you check i've edited it correctly please.
Do you really have no car maintenece costs nor medical bills? you should get contents insurance as you'll be hard pushed to afford any big bills from now on.
Whats 'other insurance' mean?

gettingbetter

comet-1 wrote: »

here goes with our SOA, we both went BR and most of our debts were joint.Statement of Affairs and Personal Balance SheetHousehold InformationNumber of adults in household........... 2 + eldest daughter on job seekers allowance (not included in any figures)Number of children in household......... 2 Number of cars owned.................... 2r reg bmw & k reg volvo both used for work Monthly Income Details Monthly income after tax................ 1404 Partners monthly income aftertax....... 400 Benefits................................ 257 Other income............................ 0 Total monthly income.................... 2061 Monthly Expense Details Mortgage................................ 0 Secured/HP loan repayments.............. 0 Rent.................................... 695 Management charge (leasehold property).. 0 Council tax............................. 146 Electricity............................. 100 Gas..................................... 85 Oil..................................... 0 Water rates............................. 46 Telephone (land line)................... 0 Mobile phone............................ 65 TV Licence.............................. 11.83 Satellite/Cable TV...................... 0 Internet Services....................... 0 Groceries etc. ......................... 500 Clothing................................ 100 Petrol/diesel........................... 160 Road tax................................ 16.83 Car Insurance........................... 68 Car maintenance (including MOT)......... 0 Car parking............................. 0 Other travel............................ 40 Childcare/nursery....................... 0 Other child related expenses............ 0 Medical (prescriptions, dentist etc).... 0 Pet insurance/vet bills................. 8.94 Buildings insurance..................... 0 Contents insurance...................... 0 Life assurance ......................... 0 Other insurance......................... 14.4 Presents (birthday, christmas etc)...... 0 Haircuts................................ 0 Entertainment........................... 0 Holiday................................. 0 Emergency fund.......................... 0 Total monthly expenses..................2057 Assets Cash.................................... 0 House value (Gross)..................... 0 Shares and bonds........................ 0 Car(s).................................. 0 Other assets............................ 0 Total Assets............................ 0 No Secured nor Hire Purchase DebtsUnsecured DebtsDescription....................Debt......Monthly...APRTotal unsecured debts..........0.........0.........- Monthly Budget SummaryTotal monthly income.................... 2,061Expenses (including HP & secured debts). 2,057Available for debt repayments........... 4Monthly UNsecured debt repayments....... 0Amount left after debt repayments....... 4Personal Balance Sheet SummaryTotal assets (things you own)........... 0Total HP & Secured debt................. -0Total Unsecured debt.................... -0Net Assets.............................. 0our house was repossessed in nov2007 was later sold with a £5000 shortfall but mortage company wants £35000, we also had a secured loan (which when the house was sold converted to an unsecured loan ) of £31000 then the usual debts of credit cards etc totalling £78400 (£66000 due to house repo)any thoughts on the above would be welcomethanksmike

hope you dont mind but i altered to make it easier to read

kas xx

gettingbetter

hmmmmmmmmmmmm
didnt work

kas xx

pmg19680

Hi Comet,
Me and Oh went br on 11th May and we have just got our letter similar to yours. got to send 3 months payslips, 12 months bank statements and any cc statements we have (haven't had any for 5 yrs as been on dmp plan) . Not asked for anything else yet.
I was also a little concerned as I thought they would send a big pack. have got a phone interview on 27th tho but keeping fingers and everything else crossed that should be ok and avoid an IPA. :beer:

comet-1

thanks betterlatethannever and gettingbetter,
i should have edited the other insurance to "prescriptions" and the pet insurance should be "pet food" (koi carp)

thanks pmg i hope all goes well for you with your interview, even thought they said they dont need to interview us at present, after they see my bank statements and see that my wages have dropped by 300 pounds per week (hence BR) i think they will want some answers.

mike

comet-1

Hi all
Had a letter from the OR today, telling me that i'm getting an NT tax code for this year and that i wont be paying any tax for the remainder of the tax year, but as this is extra income (60 pounds) the OR wants me to sign an IPA for this amount till the end of the tax year, and also notify them if my circumstances change (as normal)

Does this sound correct for a short IPA ?

Also the OR has no interest in my NATWEST step account, and NATWEST have said i can keep the account as i don't owe them any money, but i must close my isa and web saver savings accounts as they only allow one account.

mike