Some help with SOA Please..

mjs12345

as above? any suggestions for adjustments?

Angiepange

I personally think you will have nothing to worry about with your SOA as it stands and do agree with HappyMJ below.

Its not all set in stone either, you will have chance to discuss your SOA with the OR in your interview. Try not to worry, as long as you are honest there really won't be a problem. Good luck.

HappyMJ wrote: »

But as you are on benefits you will have nothing to pay. You could put any figures you wanted down even having zero expenses and no payment order will be made.

mjs12345 wrote: »

as above? any suggestions for adjustments?

mjs12345

i was just wondering, i have 2 catalogue accounts which i haven't even thought about, one has a balance of £0, and the other i have been using up until now has a balance of around £400. Can i include this or will it be queried as i has been using it regularly? And do i need to inform of the one that is £0 even though i do not use it?

kepar

Your partner who has a car doesn't pay any money to the outgoings, and yet you are paying £140 a month to keep the car running and on the road. If your partner is not working, why do you need a car?

mjs12345

All the benefits is our Joint income of JSA, Child Tax Credits and Child Benefit. I lost my job about 4 months ago and am struggling to find work let alone pay my debts. We need a car because of where my child goes to school and we take relatives to hospital regularly. My SOA is all the money we have and where is goes.

kepar

I am looking objectively here, how far do you have to take your child to school. Secondly as you are paying £140 to run the car, it might cheaper to send your relatives to hospital in a taxi. Before you take offence because all your income is benefits you will not get an IPA if you exceed £100. If you are going to have only £8 left, you seriously need to have a look at your outgoings.
When we went bankrupt, we lost the car, and managed without one for six months until we managed to get £300 together to get a cheap run around.
Walking back for miles with the shopping, spending over £25 in Iceland to get free deliveries. We used the bus where we could, walked otherwise or in emergencies used a taxi. We were saving over £70 a month.
Don't forget also your insurance premiums can go up and as you pay £66 a month , you probably pay monthly. But your insurance is over £500 so you will have to pay it all up front unless you declare to them that you are bankrupt. In which case they may turn you down or will increase the premium. This is one of the downsides of going bankrupt, suddenly setting up credit agreements are not as easy.
Hopefully it will work out for you.
The OR won't question your SOA because it is all benefits, but please think about the car do you really need it???

mjs12345

we do need a car. it isn't an option to get rid of it as it isn't my car and my partner isn't going bankrupt. Plus it is her asset. She has alot of doctors appointments due to her having Chronic Fatigue Syndrome.

debtinfo

As Kepar says, you wont have to pay an IPA so any savings and efficiencies you can make can only be of benefit to yourself and your family. Remember those unexpected things tend to come round with alarming regularity when you have no credit back up

hope it goes well for you

BLT_2

Thats an enormous insurance premium in any case, thats on sports car level. A small 1.1 car, with full no claims bonus costs around 12 pounds a month to insure

mjs12345

BLT wrote: »

Thats an enormous insurance premium in any case, thats on sports car level. A small 1.1 car, with full no claims bonus costs around 12 pounds a month to insure

She only has 1 years no claims, its a 1.6 Honda Civic, fully comp. its high because she recently changed cars and was cheaper to change the car on the existing policy rather than start up a new policy elsewhere as she only has a few more months to run.

Anyway, can anyone answer my question about the catalogues a few posts up?