Can people clarify this for me?

MicheH

It looks like it is your last resort then, sorry Sammy. I was just concerned that's all x

philnicandamy

Sammy dont let this get you downhearted.....its something we would always suggest to EVERYONE posting here for advice...at the end of the day you've got the advice you need & if bankruptcy is the last resort then so be it!

MicheH

Aw honey not victimised, I was purely concerned about, in my opinion, a large surplus. It is large to me. Don't feel like you have no support here. I'm so very sorry. The people on this board ave got me through a very hard time and I would hate to think I was having a negative effect on your feelings

Feelingfoolish_3

DLA for son - not included for debt management plans

Included for bankruptcy? I wouldn't have thought so, or has this changed?

dalip

Maybe i have missed something but you have no mortagage or rent down why is that?.Dx

Sammy3008

dalip wrote: »

Maybe i have missed something but you have no mortagage or rent down why is that?.Dx

Mortgage, did I not include that?
At present just on interest only so paying £404.00 it goes up again next March to £495.00.

Miche, no need to apologise, to be honest, I am just honestly worried that there could be other options, but we're already on a DMP, infact it will take us 44 years to pay on that, we can't do an IVA because of NR, and not sure there is anything else? except BR.

I really need to get a financial advisor out, so he can sit us both down, and go through a budget planner with us, but just can't get anyone interested in doing it, CAB managed to get in contact today, but with one out of our area, and she gave me a little advice, well a 'I'm telling you this is how it is' kind of opinion, and told me, they can't actually say 'yes BR is your only option'
Spoken to the CCCS a couple of weeks back, after doing the budget thing on there website, that came back as BR.

My head's spinning at the moment, we have £304.00 left over, £198.00 per mth to start paying in December, and need to find an extra £818.00 so we could start paying back our debts, its just not going to happen arrgghhh!!

Lost2

Sammy3008 wrote: »

Just going to do another one now
Have had advice on here, and over the phone, could really do with someone to come out and sit with us to work out finances etc.

I made an appointment at CAB and the lady there helped with my forms

peachyprice

One thing I have noticed, you're receiving DLA for your son, which is skewing your figures, but you don't have any especially high outgoings to take this into account. Are there things you could/should be spending his DLA on that you can't because you need this money for paying your debts?

Sammy3008

This is our SOA, including mortgage, as forgot on the other one


Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1662
Partners monthly income after tax....... 0
Benefits................................ 723 DLA, Tax Cred, Child Benefit
Other income............................ 0
Total monthly income.................... 2385

Monthly Expense Details
Mortgage................................ 404
Council tax............................. 86
Electricity............................. 35
Gas..................................... 58
Water rates............................. 32
Telephone (land line)................... 27
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 450
Clothing................................ 40
Petrol/diesel........................... 130
Road tax................................ 0 Don't pay this, as get mobility care for son
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 5
Other travel............................ 9
Childcare/nursery....................... 0
Other child related expenses............ 35
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 5
School Trips............................ 5
DMP..................................... 150
Total monthly expenses.................. 1718

Assets
Cash.................................... 1000
House value (Gross)..................... 69000 Maybe less, had it valued by Haart at £65,000.00 :eek:
Car(s).................................. 3500
Total Assets............................ 73500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 79028....(404)......
Total secured & HP debts...... 79028.....-.........
Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................3800......50........0
Unsecured Loan.................23800.....156.......0
Loan...........................13500.....202.......0
Estate Agent...................1752......0.........0
Overdraft......................2560......0.........0
Loan...........................10000.....102.......0
Loan...........................14000.....110.......0
Loan...........................9500......198.......0
Total unsecured debts..........78912.....818.......

Monthly Budget Summary
Total monthly income.................... 2,385
Expenses (including HP & secured debts). 1,718
Available for debt repayments........... 667
Monthly UNsecured debt repayments....... 818
Amount short for making debt repayments. -151
Personal Balance Sheet Summary
Total assets (things you own)........... 73,500
Total HP & Secured debt................. -79,028
Total Unsecured debt.................... -78,912
Net Assets.............................. -84,440

Sammy3008

peachyprice wrote: »

One thing I have noticed, you're receiving DLA for your son, which is skewing your figures, but you don't have any especially high outgoings to take this into account. Are there things you could/should be spending his DLA on that you can't because you need this money for paying your debts?

As far as we have been concerned regards the DLA money, its our DS, and if he needs anything it will be spent on him, i.e, if I need to get a taxi to take him to a hospital appointment or something like that, if I can't get DH to take us.

We did think of putting this money towards paying off some of the debts, but the trouble is, our son only gets it up until April 2011, and then he has to be reviewed again then, so we could lose it, and end up back where we are.