Living with parents

abigail9

Hi all
Some advice please. A friend is on the verge of bankruptcy and is living with their parents. Have advised him to state what he actually pays and he has put the following on his SOA

Rent £280
CT £30
elec £5
Gas £10
Housekeeping(food/toiletries etc)£150

Any on how the OR will view the amounts quoted

(ps also other expenditure listed for car/travel etc)

Thanks

debtinfo

I don't think that the OR will have anyproblem with those figures

fiveyearplan

I would advise your friend to post up a full SOA. Does your friend have an income?

abigail9

Thanks for the replies both. Yes h does have a salary £994 per calander month which includes a profit related payment (£43) which is not always paid, although the previous month he took home £1005.

SOA
Rent280
Council Tax30
Gas10
Electricity5
Water10
Telephone45
Housekeeping160
Travelling80
Clothing50
Car insurance75
Dry Cleaning 25
Dentist15
Pet food 40
Hairdressers 10
Holidays30
Car tax/Mot25
Car matenance25
total 915
Leaves £79 surplus income
Any advice appreciated

RAS

Hi

Three people in the house? Both parents earning?

abigail9

4 people in the house 1 parent earning

Thanks

RAS

How much is the car worth and can he absolutely justify owning it - like not able to worjk without a car rather than it is easier to travel to work by car.

RAS

A few queries

abigail9 wrote: »

Thanks for the replies both. Yes h does have a salary £994 per calander month which includes a profit related payment (£43) which is not always paid, although the previous month he took home £1005.

SOA
Rent280 - what is the total household rent?
Council Tax30 - is this one quarter of the CT?
Gas10 -
Electricity5
Water10
Telephone45 - is this one quarter of the household bill?
Housekeeping160
Travelling80 - is this required to get to work?
Clothing50
Car insurance75 - this is VERY high - points? age?
Dry Cleaning 25
Dentist15
Pet food 40
Hairdressers 10
Holidays30 - may be allowed
Car tax/Mot25
Car matenance25
total 915
Leaves £79 surplus income

abigail9

car is worth 1600 to 2000 (1600 bottom book price on parkers, off the road at the moment as no mot needs a lot of work). Would be two buses each way, however he does except it may have to go but not sure its worth bottom book price as not road worthy at the mo.

Bus pass would be £60 ppm

SOA
Rent280 - what is the total household rent? (paid to parents house is mortgaged)
Council Tax30 - is this one quarter of the CT?( no its less)
Gas10 -
Electricity5
Water10
Telephone45 - is this one quarter of the household bill? (no less and includes mobile)
Housekeeping160
Travelling80 - is this required to get to work? (yes but see above)
Clothing50
Car insurance75 - this is VERY high - points? age? (Male 27 with points)
Dry Cleaning 25
Dentist15
Pet food 40
Hairdressers 10
Holidays30 - may be allowed
Car tax/Mot25
Car matenance25
total 915
Leaves £79 surplus income

RAS

I suspect that if it is possible to get to work at £60 per month and the car is costing him £125 per month, the OR could take it as it would mean he could pay an IPA as well as raising a bit of money.

The OR will not allow mobile phones. Most people hide it by claiming £40 plus for the household phone. I think the OR might have trouble believing the household phone bill is £180 per month.

Not sure what the rules are on payments to parents for a mortgaged property but I suppose I would start with one quarter of the interest payment.

I would up the CT to one quarter of the cost. and he could get away with a slightly higher utility allowance - £15 each perhaps.

dalip

The OR will allow £20 a month for a mobile