Debt relief advice please

tracytaxi

Hello I am surprised to be here again !
Finally divorced ex and had rough couple of years with my own illness ,my mums and my daughters , one autistic and one having heart investigations for a year. I am and was a self employed taxi driver , not earning much and awaiting a carers allowance claim. getting remarried to a lovely chap in April .
since divorce debts built up due to tax credit delays , and illness when. I was in hospital and also cancelling a large mobile contract early.
What I want to know if I do a dro, would my taxi worth £ 4,000 bought by my cousin but log book in name , he has invoice and I pay him weekly be excluded from asset list as tool of trade ?
Also I have hp or rent to own contract with bright house for my sofa ( ex husband took ours) total cost about £1,000 would I be allowed to carry on paying , phoned local OR office Advice team and she said yes don't put it as a debt and I can carry on with it but I just want to check with you , she also said my washing machine and tv rental from box clever was fine ??
Finally my fianc! and I have claimed tax credits , the child tax credits get paid into his bank account and I get the working tax credits how do I work out the money for dro, as I don't access is account and money ??
Any advice welcome , I am on a dmp but crediitors still adding interests,also please can someone put me a link for expenditure guide lines, do I need to send bank statement and things in or does that vary with each intermediary ? And is any intermediary better than another ?
Can't believe there are still familiar faces on here. Thank you

debt_doctor

tracytaxi wrote: »

Hello I am surprised to be here again !
Finally divorced ex and had rough couple of years with my own illness ,my mums and my daughters , one autistic and one having heart investigations for a year. I am and was a self employed taxi driver , not earning much and awaiting a carers allowance claim. getting remarried to a lovely chap in April .
since divorce debts built up due to tax credit delays , and illness when. I was in hospital and also cancelling a large mobile contract early.
What I want to know if I do a dro, would my taxi worth £ 4,000 bought by my cousin but log book in name , he has invoice and I pay him weekly be excluded from asset list as tool of trade ? If you own this vehicle, then you cannot have a DRO, we just checked this very argument with our specialist support unit recently. So who owns the vehicle; you or your cousin?
Also I have hp or rent to own contract with bright house for my sofa ( ex husband took ours) total cost about £1,000 would I be allowed to carry on paying , phoned local OR office Advice team and she said yes don't put it as a debt and I can carry on with it but I just want to check with you , she also said my washing machine and tv rental from box clever was fine ?? As these appear to be essential goods and on HP then you can exclude these debts from your DRO so long as they are up to date, and they will be an allowable expense.
Finally my fianc! and I have claimed tax credits , the child tax credits get paid into his bank account and I get the working tax credits how do I work out the money for dro, as I don't access is account and money ?? Only your income counts for your DRO. A couple has a joint claim for tax credits so you should halve all the tax credits and use half as your income
Any advice welcome , I am on a dmp but crediitors still adding interests,also please can someone put me a link for expenditure guide lines, do I need to send bank statement and things in or does that vary with each intermediary ? And is any intermediary better than another ? The one's on here are wonderful!!:D
Can't believe there are still familiar faces on here. Thank you

Hi,

At least that's a start.....

DD

tracytaxi

Hi my cousin owns it , I am the registered keeper to do with my insurance conditions, the garage invoice from oct last year is in my cousins name ,i pay him weekly rental .
That surprises me about the car as it if it was mine I would have to quit work to do a dro ! I thought tools of the trade were excluded , just don't know how to ask my cousin for proof he owns car without him asking why .
Thanks debt doctor , the car is my taxi by the way not a private car or wholly for private use .
That's reassuring re the hp
Thank you

debt_doctor

tracytaxi wrote: »

Hi my cousin owns it , I am the registered keeper to do with my insurance conditions, the garage invoice from oct last year is in my cousins name ,i pay him weekly rental .
That surprises me about the car as it if it was mine I would have to quit work to do a dro ! I thought tools of the trade were excluded , just don't know how to ask my cousin for proof he owns car without him asking why .
Thanks debt doctor , the car is my taxi by the way not a private car or wholly for private use .
That's reassuring re the hp
Thank you

Yes, I fully understand the ...such books, tools, vehicles.....etc as exempt assets, but we just tried this very theory for taxi drivers recently. It comes down to only domestic motor vehicles worth less than £1k being exempt as assets - so taxis are not (argument to be had if the vehicle has domestic use too) - but yours is still well above the £1k limit even if you could show a shared domestic use. - But of course if it is not yours then it will not be an issue.

DD

tracytaxi

Just got to find a excuse to ask cousin of copy of garage invoice , bit embarrassed to be in difficulty , the last car was in his name too and on a rentals with log book in my name , he has that one back now

tracytaxi

Thank you all messages are appreciated, just a thought not had my most recent accounts yet but I presume my most recent tax return completed by accountant will prove my income ?

debt_doctor

tracytaxi wrote: »

Just got to find a excuse to ask cousin of copy of garage invoice , bit embarrassed to be in difficulty , the last car was in his name too and on a rentals with log book in my name , he has that one back now

Well, seen as the invoice will no doubt have the taxis registration number on it then surely you could turn up at the garage yourself and say....... Hi, could I have a copy of the vehicles recent invoice for business purposes, the originals been lost.......

DD

tracytaxi

Hi hoping debt doctor is about ,thank you for advice I will have the rental agreement from my cousin and a copy of the bill of sale for the dro.
On the citizen advice pages about dro it says you will not be able to continue to make hire purchase or whatever bright house call my sofa agreement ,if you enter a dro,I just need to clarify this .Also how many months bank statements are required .I have cancelled my Vodafone mobile contract and as I cancelled it early they will probably send me a bill for over a thousand which will take me very close to 15,000 and I am concerned as two of my creditors are still piling on interest ,Wonga and j d Williams ,despite me being on a dmp,I am worried it will put me over the limit so need to act quickly ,what credit reference file do I need to obtain please ? Also where can I find personal budget guidelines .
I am also quite worried as my other half gets dla and I get Carers and if his dla ends I will lose Carers ,which would make my budget wrong ,although that is not until April so hopefully will be sorted .any help advice greatly appreciated thank you

debt_doctor

tracytaxi wrote: »

Hi hoping debt doctor is about:wave: ,thank you for advice I will have the rental agreement from my cousin and a copy of the bill of sale for the dro.
On the citizen advice pages about dro it says you will not be able to continue to make hire purchase or whatever bright house call my sofa agreement ,if you enter a dro,I just need to clarify this . If that's what it says then it is rather out of date:o You can choose whether to include HP or not (providing agreement is up to date) and include the payments as an allowable expense. Cars are more complex, but can also be ecluded.Also how many months bank statements are required .It's up to your intermediary.I have cancelled my Vodafone mobile contract and as I cancelled it early they will probably send me a bill for over a thousand which will take me very close to 15,000 and I am concerned as two of my creditors are still piling on interest ,Wonga and j d Williams ,despite me being on a dmp,I am worried it will put me over the limit so need to act quickly ,what credit reference file do I need to obtain please ?Experian Also where can I find personal budget guidelines .
I am also quite worried as my other half gets dla and I get Carers and if his dla ends I will lose Carers ,which would make my budget wrong ,Wont affect your application as your income may go down, not up although that is not until April so hopefully will be sorted .appreciated thank you

As you are close to £15k then you need to get a move on - if you exclude the brightouse, then it won't count towards the £15k limit.

DD

tracytaxi

Thank you ,the car as discussed before is a rent to buy informal agreement although in writing between my cousin and I and until the car which is my taxi is paid for it won't be mine .thank you for info re experian i will do that today .Do i need equifax too ? Please can you point me in the direction of budget guide lines.I think I will initially try the citizens advice bureau as a intermediary and see what the wait is. Hoping I can sort all this before too much more interest is added ,I have a joint cash back 123 account with Santander with my partner which is the bill account ,can I simply remove my name so my other half doesn't get stressed about moving all the direct debits ? As I know he wants to keep it .I personally have a basic natwest and Lloyd account and as far as I know no creditors with them

debt_doctor

Providing you have no debt with the Santander account then you can apply to have your name removed. If not, moving direct debits is inconvenient but not the end of the world!

DD