BR Help - Would I qualify?

cloverhill

Hi,

I've been reading some posts on here for the last couple of days as I am trying to sort our my debt problems. I have my own DMP in place with my creditors but they are constantly pushing up limits each month to the extent that I am having no money to feed my self. I am contsantly stressed, panicing everytime call come and just feel sick at the thought of it all. I only owe about 14K, work fulltime but just can't seem to get ahead.

I've done a SOA, please can anyone help me?

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1138
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1138

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 446
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 50
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 42
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1070

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Rundles........................2832......50........0
Welcome Fin....................5005......30........0
Private & Comm.................6413......30........0
Connaughts.....................0.........30........0
Total unsecured debts..........14250.....140.......

Monthly Budget Summary
Total monthly income.................... 1,138
Expenses (including HP & secured debts). 1,070
Available for debt repayments........... 68
Monthly UNsecured debt repayments....... 140
Amount short for making debt repayments. -72
Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -14,250
Net Assets.............................. -13,750

So_Sad_Angel

Hi Clover & welcome

I have to admit I am rubbish at SOAs so will await others` replies.

You may qualify for the DRO (Debt Relief Order) option given the level of debt. Obviously you need to get advice & the debt charities are a good start...CCCS, Nat Debtline & CAB. Although I have read that a few have used Baines & Ernst recently....hope that others can advise further.

Cutting back on the SOA figures could make your SOA do-able though but I notice your food bill at £25 a week is a bit low & not sure if that is too low.

Whatever though....you are not alone. Plenty here are at various stages of the process & can chip in with advice at every step.

Try to see this as a step forward, to move on from an unmanageable situation. Taking advice is crucial....get it asap.

Angiexx

cloverhill

Thank you SSA,

I though you had to have a surplus of under £50.00 to do a DRO? If I take out my creidtor payments then wouldn't I be above this? Also not sure where to cut back?

JCS1

cloverhill wrote: »

Thank you SSA,

I though you had to have a surplus of under £50.00 to do a DRO? If I take out my creidtor payments then wouldn't I be above this? Also not sure where to cut back?

True - but your groceries and clothing are very low, if these were increased to a more realistic level your surplus would be under the £50 needed for a DRO.

philnicandamy

also....your Gas/Elec are a little low (you could up these to allow for winter etc) and no medicines optical dental? your allowed an allowance for that....any pets?

cloverhill

Hi, thank you for the posts.

I've done another without the debts and adding to the lower expenses. How does this look?

The only thing that worries me is that I work as a Bar Manageress, I do basic 40hrs then put the rest down as ot which can be variable. The most I've taken home is £1300, following working a 7 day straight over xmas & new year, where I usually get days of in lieu so Febs will be lower. If I do this again this year, my surplus over the £50.00 for that mth, is an DRO looked at as an average?

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1138
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1138

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 346
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 50
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 50
Road tax................................ 20
Car Insurance........................... 42
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1118

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts
No Unsecured Debts

Monthly Budget Summary
Total monthly income.................... 1,138
Expenses (including HP & secured debts). 1,118
Available for debt repayments........... 20
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 20

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 500

debt_doctor

Hi

If you want a DRO then you need to cut your total phone costs in half, knock £10 off your clothing, keep your car costs to £ 135 and up your entertainment from £0 to £ 70 to compensate - sounds bizzare, but trust me !;):D

DD

cloverhill

Thank you DD,

My only other concern is what would happen in the event of my salary going up as mentioned in pp? I suppose in the event that it does happen, something unexpected can arise

I'll make those changes, then get onto my creditors for current balances. Fingers crossed all will go well.

Who is the best to go with? I can get the £90.00 quite quick by sacrificing some food for this month. So once I get my balances back I'll be ready.

debt_doctor

Hi,

If your disposable income rises above the £50 limit within the year then your DRO may be revoked.

I dont think it makes any difference who you go with TBH.

DD

cloverhill

Hi,

I'm going BR tomorrow morn. 10.45 so last minute nerves are setting in. I just wanted to check that my SOA is ok.

One point - my Council Tax this year (£85) should be inc as it is already with bailiffs so I have left that off - but that does put my surplus to 145.

Also my earnings are based on the average for the last 12 months - see above for explanation.

Household Information

Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details

Monthly income after tax................ 1180
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1180

Monthly Expense Details

Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 413
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 25
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 40
Petrol/diesel........................... 50
Road tax................................ 30
Car Insurance........................... 45
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 25
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 1038

Assets

Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1500

Monthly Budget Summary

Total monthly income.................... 1,180
Expenses (including HP & secured debts). 1,038
Available for debt repayments........... 142
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 142

Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,500

Bethankim

Hiya,

id put council tax in anyway, as you will have to pay it after your BR date for the rest of the year and in the next financial year - the OR would expect a figure in there.

as for the rest, ermmm im not brill at the numbers so hopefully someone else will be able to cast thier eye over it