new person here : quick question !

tigerfeet2006

t666 wrote: »

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.................... 0
Monthly Income Details
Monthly income after tax................ 1596
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1596
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 417
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 40
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0 £40
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 45 make sure this is fully comp.
Car maintenance (including MOT)......... 15 £30
Car parking............................. 0
Other travel............................ 20 what is this?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 does your rent included insurance of your things ie laptop etc?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0 £25
Emergency fund.......................... 0
Total monthly expenses.................. 894

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 Debts
Unsecured Debts
Description....................Debt......Monthly...APR
4 x credit cards...............10000.....350.......3
loan lloyds....................23000.....444.......12
overdraft......................3000......30........11
Total unsecured debts..........36000.....824.......-

Monthly Budget Summary
Total monthly income.................... 1,596
Expenses (including HP & secured debts). 894
Available for debt repayments........... 702
Monthly UNsecured debt repayments....... 824
Amount short for making debt repayments. -122
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -36,000
Net Assets.............................. -36,000
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

i changed the things you all advised me too,, I dont understand though others are putting small amounts for holidays, emerg. funds etcetc...

Most OR's don't allow amounts for presents or emergancy funds, the odd one will, once in a very blue moon so it may be worth adding £10/20 i and seeing if it is allowed or not.

If you wear suits to work then put in £10 dry cleaning.

t666 wrote: »

another thing I forgot: i have to pay a professional body a registration fee per year...if I don't do this i lose my job... will this be counted? Its about £70 per year.

Yep! divide by 12 and put it down.

t666 wrote: »

could i put anymore than £100 for petrol? i walk to work usually so i guess they would say i dont need the car. However I use the car to visit my family who are several hundred miles away, twice a month, my actual petrol is probably more like £170 TBH.

Right, this is where thigs are going to get sticky. The OR will usually oly allow car expenses if they are are essential. This means to get to work and not visiting family. We may have to put our thinking caps on.

t666

tigerfeet2006 wrote: »

Most OR's don't allow amounts for presents or emergancy funds, the odd one will, once in a very blue moon so it may be worth adding £10/20 i and seeing if it is allowed or not.

If you wear suits to work then put in £10 dry cleaning.



Yep! divide by 12 and put it down.



Right, this is where thigs are going to get sticky. The OR will usually oly allow car expenses if they are are essential. This means to get to work and not visiting family. We may have to put our thinking caps on.

thank you

to me... it looks like things are going to get a whole lot worse if I do go for bankruptcy... if I cant have the car im in trouble as I have got bad anxiety when it comes to public transport.. I can only get on this when its very quiet/empty!!

Whats the worse that can happen if i just stop paying my credit cards. i just won't answer the door/phone....

tech2_2

Hi TF

nice to see ur as active as poss. Have u cleared out ur inbox yet? as could not send u a message....... Tech2

Any where back to this case

Is it not possible for t666 to look at actual cost to rent a flat? Posssible not but just a thought

The other travel is bus use I think t666 said. If t666 actual looked at the real cost of travel as in baying a travel card monthly this would be higher than it is now! and alos add for train to see family? as if the OR wont allow the car then the fuel, tax, and insurance & mot/running costs are also out of the equation!

How long is t666 going to be in this type of "ALL IN" accomodation?

Does t666 need the internet for their job? £10

Does t666 need to use any transport as part of their job? what is a keywork and in connection with which industry? (as there is always some £ i'm sure we can find that t666 has overlooked!

Tech2

t666

tech2 wrote: »

Hi TF

nice to see ur as active as poss. Have u cleared out ur inbox yet? as could not send u a message....... Tech2

Any where back to this case

Is it not possible for t666 to look at actual cost to rent a flat? Posssible not but just a thought

The other travel is bus use I think t666 said. If t666 actual looked at the real cost of travel as in baying a travel card monthly this would be higher than it is now! and alos add for train to see family? as if the OR wont allow the car then the fuel, tax, and insurance & mot/running costs are also out of the equation!

How long is t666 going to be in this type of "ALL IN" accomodation?

Does t666 need the internet for their job? £10

Does t666 need to use any transport as part of their job? what is a keywork and in connection with which industry? (as there is always some £ i'm sure we can find that t666 has overlooked!

Tech2

hi! Im not sure re inbox... theres nothing in it!! Strange!
dont really need internet for job, only online courses. (im in healthcare professional, nurse) Ive already included that with landline/phone rental.

I think im going to be in this accomodation for the foreseeable.. i cannot afford a regular flat, dont really need transport,i live only 25 mins walk away from work!

all this and i still cant cover the £181 loan for my dad. EEK.


Appreciate all assistance though!!

tech2_2

your on late t666

tech2_2

The inbox message was directed at tigerfeet sorry...

You have at the moment approx £700 cash left if you go BR. the lloyds loan looks to be the killer...... I know we had one!

You live 25 mins walk but how much would that cost on a bus? each way each day, what about when you work nights and safety getting to and from work TAXIS needed maybe? add it up you will be amazed at the cost + taxi/bus to and from the supermarket once a week to get you shopping....

Does this help?

Would you nee the car may be for the night/unsociable hours maybe? and you could have it all the time? parking it must caos in london?

A big question.....you say if you move out od London you loose £10k/ yr but if you where to do that would the cost of travel/car then reduce the amount of spare cash and thus you may not get and IPA as they are with you for 3 yrs from the dat e the OR starts it and not the BR date!!! THink at all options be for e you jump that is why if Carling made wbesites
"this would be the best web site in the world"

food for thought

tech2

t666

tech2 wrote: »

The inbox message was directed at tigerfeet sorry...

You have at the moment approx £700 cash left if you go BR. the lloyds loan looks to be the killer...... I know we had one!

You live 25 mins walk but how much would that cost on a bus? each way each day, what about when you work nights and safety getting to and from work TAXIS needed maybe? add it up you will be amazed at the cost + taxi/bus to and from the supermarket once a week to get you shopping....

Does this help?

Would you nee the car may be for the night/unsociable hours maybe? and you could have it all the time? parking it must caos in london?

A big question.....you say if you move out od London you loose £10k/ yr but if you where to do that would the cost of travel/car then reduce the amount of spare cash and thus you may not get and IPA as they are with you for 3 yrs from the dat e the OR starts it and not the BR date!!! THink at all options be for e you jump that is why if Carling made wbesites
"this would be the best web site in the world"

food for thought

tech2

I think I am going to look into the DMP option again TBH. I think my issues are more complex than I first thought so its not going to be simple. Trouble is the DMP is a never ending thing which is not legally binding. I dont want to not be able to use the car for starters by the sound of it in BR. And dads loan biz, theres no answer it seems. If I could guarantee my OR isnt going to cross examine me for every little thing I would go for it. But knowing my luck I would get a not so nice one I think you have all scared me away from BR!!!

tech2_2

Dont be scared off by it as I wish I had done it 5 yrs ago and still ended up going there...

You need to consider all your options and the people on here will help you no matter what.......

Just read some threads on here and on the IVA and you find people have gone down that route and then had to go BR

It only a year and an IPA if you get one for 3...... and think of the life after that always look long term and not to the end of next month or year....

Trying putting up ur SOA with the alterations again and see what people say


Tech2

t666

tech2 wrote: »

Dont be scared off by it as I wish I had done it 5 yrs ago and still ended up going there...

You need to consider all your options and the people on here will help you no matter what.......

Just read some threads on here and on the IVA and you find people have gone down that route and then had to go BR

It only a year and an IPA if you get one for 3...... and think of the life after that always look long term and not to the end of next month or year....

Trying putting up ur SOA with the alterations again and see what people say


Tech2

I was thinking: my first prob: the car issue. Ok praps I will scrap the idea that i use a car as it might prove hard to say i need it... and I don't want to risk going bankrupt then not be able to use it..... how about I put the expense down as a monthy zone 1-2 travelcard.. (i think they are about £100) will that be accepted? (i walk to work currently, ) I could say I need the travel card to go to supermarket, get to work (I can say it takes an hour to walk there (ok it takes me 35 mins really but I could be a slow walker! The £99 travelcard might (secretly) cover some car expenses.

With regard to my dads loan,, he has come up with a possible plan...to extend the loan temparary to lower the monthly payments.... so I can get his money together a bit more easily ...

what do ppl think of this? Am I getting any further with this!!!!!

cheers guys.

fiveyearplan

Check the exact amount for zone 1-2 travelcard. It seems perfectly reasonable to have one for the days you don't feel like walking.