SOA but nothing left to pay IVA....HELP ME PLAESE!

savingmummy

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1550
Partners monthly income after tax....... 500
Benefits................................ 160
Other income............................ 0
Total monthly income.................... 2210
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 70 this high shop around for elec/gas
Gas..................................... 70
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 15
Mobile phone............................ 70:eek:
TV Licence.............................. 12
Satellite/Cable TV...................... 30 get rid of it for now
Internet Services....................... 0
Groceries etc. ......................... 200 reduce this
Clothing................................ 0
Petrol/diesel........................... 100 try and cut this back
Road tax................................ 20
Car Insurance........................... 31
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 468 can you not reduce this or look for cheaper?? it is very high!!
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 12
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
car payment............................. 278.01
vanquis................................. 0
catalogue n.c........................... 35
csa payment............................. 176
Total monthly expenses.................. 2188.01

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
vanquis........................470.......17........49.5
Total unsecured debts..........470.......17........-

Monthly Budget Summary
Total monthly income.................... 2,210
Expenses (including HP & secured debts). 2,188.01
Available for debt repayments........... 21.99
Monthly UNsecured debt repayments....... 17
Amount left after debt repayments....... 4.99
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -470
Net Assets.............................. -470[/QUOTE]

You need to cut back on the above to enable you to manage.
With sky you just call and explain you can`t pay so wish to cancel i did and they stopped it! It is a very expensive luxury to have when you need extra money each month.

Groceries you need to stick to a strict list (just what you need), meal plan, use vouchers and buy offers. Drop brands if need be. I shop for 4 on £150.

The nursery fees are the same as your your income a mth Is there no family or friend/neighbours who can help out with childcare? Do you have any surestart centres where you can go for advise regarding childcare - maybe worth speaking with your health visitor about this.

savingmummy

http://www.moneysavingexpert.com/health/childcare-costs

there is a calculator here to work out if your entitled to help with nursery fees x

magicbunn2106

savingmummy wrote: »

You need to cut back on the above to enable you to manage.
With sky you just call and explain you can`t pay so wish to cancel i did and they stopped it! It is a very expensive luxury to have when you need extra money each month.

Groceries you need to stick to a strict list (just what you need), meal plan, use vouchers and but offers. Drop brands if need be. I shop for 4 on £150.

The nursery fees are the same as your OK income a mth Is there no family or friend/neighbours who can help out with childcare? Do you have any surestart centres where you can go for advise regarding childcare - maybe worth speaking with your health visitor about this.

Thanks for helping. Will ring sky and speak to them. i agree we dont need.

groceries is a tough one. this includes.....
£18 for the dog food for the month.
£40 for dd milk for the month. i buy these at either boots or sainsburys or tesco to collect the points. unless one place has an offer. did have £1 off vouchers for this stage but just ran out in this milk they have £1 off the next stage which i am collecting.
£120 for 4 x £30 a week budgets.
£20 approx for nappies and wipes for the month. spens ages online hunting all supermarket sites to find out which one is teh east pence per nappy and who has the best deal on wipes. this month ahs been sainsburys , as 1/3 off all baby products.

as for nursery.... we have no. all my o/h family are down south and i dont have anyone to help. i cant work more as that would mean more nursery and it just cancels each other out.

im not being negative to your response. just have tried most things. admittedly not the sky yet , so i will !!!

magicbunn2106

savingmummy wrote: »

http://www.moneysavingexpert.com/health/childcare-costs

there is a calculator here to work out if your entitled to help with nursery fees x

have just done this and it says the following...

We have rounded your results. Based on a salary of £35000, you're likely to get around £2 childcare credit per week, that's £120 per year.

Why? Because in your circumstances (income level, number of children, relationship status) it's 80% of eligible childcare costs after the first £105 up to maximum of £55 per week.

You could also get around £10.50 Child and/or Working Tax Credit per week, which is £545 per year, although when you use the HMRC calculator it may be lumped together or displayed differently.

mjm3346

"I have to start paying my iva next month " How far has this gone - what payments are you expected to make? Have you been in contact with the CCCS.

http://forums.moneysavingexpert.com/showthread.html?t=1231527&highlight=cccs

magicbunn2106

mjm3346 wrote: »

"I have to start paying my iva next month " How far has this gone - what payments are you expected to make? Have you been in contact with the CCCS.

http://forums.moneysavingexpert.com/showthread.html?t=1231527&highlight=cccs

Had been paying the iva for 12 months and then took 7 months payment holiday as i was on maternity leave and lost 60% of my previous income. i return to work 2/2/10. and they want the first continuing payment Feb '10.

doelani

Just a few things, is it worth you working if you earn £500 a month and pay £468 for childcare?

If your soa figures are the same as you gave IVA company how was it approved with no disposable income ? how much is the IVA payment each month ?

magicbunn2106

cant continue discussion as my bed awaits and i have to be up at 630am sharp with my dd. thankyou for your comments so far and will return 2moro. thanks everyone again. TRULY.

magicbunn2106

the soa when given to iva originally was different , no childcare. my income was double what it will be now. the payment we were paying was £300 a month this is what they want us to continue paying.

savingmummy

I too buy nappies and wipes - own brands just the same as the brands all do the same job imo. Tesco purple pack are good as good as huggies half the price.
The shop poundland do a pk of peppa pig wipes 90 in a pack for £1 or basic wipes 120 in pk for a £1. You can always use water and cotton wool or reuseable wipes/nappies.
My babies were baby led weened and came off of baby milk onto full fat cows milk at 9mths. They had one feed of baby milk a day which i used in their breakfast until they reach 1yr.