New SOA + advice required

kaz_25

Hi all,

I posted a few weeks back with my SOA. I have now completed a new SOA (this one is more accurate).

Woman from CAB advised me to apply for LILA.

As you can see from below, I am left with approx £100 per month. What happens to this? Does this go towards creditors?

I still have not applied for LILA as yet. Been mulling it over. I decided to take a wee break from it all last week (my lovely auntie let me borrow her caravan free of charge!!)

However, I came home to letters demanding for payment (this is the first month I have defaulted)

I phoned CO-OP today but lady advised me to call back when I go BR.

I am at a loss what to do over my money until then. I am in receipt of WTC & CTC/CB aswell as HB plus my wages.

The debt is for various creditors one of them being a bank loan. This is due out on 3rd of next month. I already know I will not have the funds to cover it - my hours just dropped at work as well as my WTC dropping, rent going up and HB dropping

Do I cancel the DD? Can they still take the funds out my account? I'm also scared to tell the doorstep lenders (provident and Loans at home 4 u) that I am unable to make payment this week. Due one £60 and the other £51. Feel like avoiding my house sometimes.

Sorry for all the questions





Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 546.93
Partners monthly income after tax....... 0
Benefits................................ 479 WTC/CTC/CB
Other income............................ 355 Includes HB and CSA payments
Total monthly income.................... 1380.93

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 495
Management charge (leasehold property).. 0
Council tax............................. 78 Water rates included in this
Electricity............................. 80 I am on prepayment for both G+E
Gas..................................... 80
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 10 PAYG
TV Licence.............................. 13
Satellite/Cable TV...................... 35 Under contract basic package plus multi room
Internet Services....................... 24 Internet and phone both BT under contract
Groceries etc. ......................... 280 Can vary from week to week
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 15 This will increase during winter for school meals £1.70 per day
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20 Luckily with PDSA so does not cost much
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1280


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
(Unnamed debt).................8350......900.......0
Total unsecured debts..........8350......900.......-


Monthly Budget Summary
Total monthly income.................... 1,380.93
Expenses (including HP & secured debts). 1,280
Available for debt repayments........... 100.93
Monthly UNsecured debt repayments....... 900
Amount short for making debt repayments. -799.07

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -8,350
Net Assets.............................. -8,350

tigerfeet2006

I can see a few things where I think your SOA could be altered, though I am only familiar with English BR I can't see it will be much different.

Telephone £50 put mobile, Internet and sky package with this. In England although you are allowed these they have to come from surplus so increase land line to £50 to cover.

Clothing £80



Is travel really that low

Other childrens expenses £5 per week for activities.

kaz_25

I only put my travel to work for the month. Travel for the weekends would add another £5.60 per week for one day. Should I add this?

Are you allowed £80 for clothing? I am unsure of the amounts that are 'set out' for day to day living.

Adding the new amounts would give me a lower amount left each month am I right?

Sorry what is surplus? I'm new to this

Thanks

tigerfeet2006

Sorry having lots of problems with my iPod at the moment.

Put in school dinners now as I am sure you provide a pack lunch. £2 per day for primary and £3 for secondary.

Do you not pay for prescriptions, eye tests, glasses, dentists? £20

Get yourself some home contents insurance with accidental damage pronto.

English OR's allow you to save for a modest holiday at £40 if you want to see if you can put it down.

Phone Co-op back and get that account open, the advisor got it wrong. You need to do this as the old bank has right of offset and can just take what you owe them leaving you in the brown stuff.

kaz_25

Thanks.

I get my prescriptions free as I receive Tax credits.

Maybe it was my fault with CO-OP as I said I was going bankrupt and wanted to open the cashminder when asked why.

Should I try again tomorrow and say I was recommended by a friend?

As I am a private tenant am I able to get insurance?

Sorry for all questions.

Thanks

tigerfeet2006

kaz_25 wrote: »

I only put my travel to work for the month. Travel for the weekends would add another £5.60 per week for one day. Should I add this?

Are you allowed £80 for clothing? I am unsure of the amounts that are 'set out' for day to day living.

Adding the new amounts would give me a lower amount left each month am I right?

Sorry what is surplus? I'm new to this

Thanks

I would add a little more to the travel, after all you have to go to the shops to buy food etc.

As for clothes this would be acceptable for an English OR. So give it a go, the worst they can do is cut it a little but I bet wouldn't cut it as low as £20.

Yes it would give you a lower surplus and more to live on.

Surplus is any money you have left at the end of the month ie: if the trustee agrees to £280 for groceries and you only spend £240 then you have a surplus of £40 to do what you want with.

tigerfeet2006

kaz_25 wrote: »

Thanks.

I get my prescriptions free as I receive Tax credits.

Maybe it was my fault with CO-OP as I said I was going bankrupt and wanted to open the cashminder when asked why.

Should I try again tomorrow and say I was recommended by a friend?

As I am a private tenant am I able to get insurance?

Sorry for all questions.

Thanks

Yes, but do you have to pay for any dental work or glasses/eye tests?

Lots of people say they are going BR and need to open a Cashminder, you just got someone who was badly trained it happens now and again. Just phone again and say you want to open it and if they ask say you are sorting debts.

Of course you can get insurance on your own contents in a property. Look at Martins guide in the buttons along the top.

kaz_25

Phoned CO-OP bank today and waiting on my pack being sent out, finally something to smile about

I have cancelled my DD's on my account I use just now - they are not due out until the beginning of the month but better safe than sorry.

Tomorrow I have to phone CAB and make an appointment to commence the LILA.

Not looking forward to the doorstep lender tomorrow. Any advice on what I should do? Make a token payment? Explain that I am going BR?

Thanks

tigerfeet2006

Don't answer the door to them, they will go away it is only the provy and they are shysters anyway. If you talk to them I'm betting they will try to talk you into paying so ignore .

kaz_25

Phoned CAB and my appointment is 6th September to apply for LILA. I'm a bag of nerves already.

tigerfeet2006

You'll be fine.

Please be aware that the numbers I have given you are for English BR so they may be changed slightly.