reasonable housekeeping figures DRO

fatbelly

And why can't that common financial statement be the Common Financial Statement? The OR already uses it for DROs Can't be that bad. They can make out a case to the MAT if they want some tweaks to it - maybe add their logo to it

debt_doctor

Yes, I agree that 'Thee' statement should be the CFS - it has the backing of the BBA and the Money Advice Trust, its also (as FB says) used in DRO's and protocol compliant IVAs.
I feel that the allowances will be significantly less than the CFS as their own (narrow and meaningless) 'consultation' states that their (MAS) trigger figures will be taken from the bottom 20% of expenditure in the ONS.
We will then end up with 3 financial statements in common use. Brilliant MAS. Well done.


DD

DorisTrousers

Have to disagree with debt doctor. You will never find the CFS anywhere near an IVA, as creditor representatives won't have it. They much prefer Stepchange guidelines, which are much less realistic. The fact that the self same creditors fund Stepchange may or may not be connected.

alastairq

DorisTrousers wrote: »

Have to disagree with debt doctor. You will never find the CFS anywhere near an IVA, as creditor representatives won't have it. They much prefer Stepchange guidelines, which are much less realistic. The fact that the self same creditors fund Stepchange may or may not be connected.

and protocol compliant IVAs.

Is the above DD's caveat?

debt_doctor

Yes 7.5 covers the financial statement, and indeed accepts both step change or CFS figures - our bureau only refer to those using CFS figures - interestingly, we occasionally refer to step change - providing they accept our figures using the CFS!
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/329133/IVA_Protocol_January_2013_version.doc

UserJong_2

DorisTrousers wrote: »

"You only have to look at the example case in this thread."


The example case in this thread that seemed to cause a lot of problems, apparently, is no longer here. I did see it before it disappeared, but it is no longer available and I can't remember the specifics of it. Admittedly, I haven't re-read the whole thread so, of course, you may be referring to another one.


Apologies if you are.

I wish there was another example case, can someone please post an example case putting figures for a couple, then how much extra for each child ect.

longtermplanner

I wish there was another example case, can someone please post an example case putting figures for a couple, then how much extra for each child ect.

Sorry, no-one is going to do this. An advisor who has access to the CFS figures is bound by complicated blood oaths that will result in their hair turning green and them being struck dumb forever if they break their oath of secrecy.

UserJong_2

longtermplanner wrote: »

Sorry, no-one is going to do this. An advisor who has access to the CFS figures is bound by complicated blood oaths that will result in their hair turning green and them being struck dumb forever if they break their oath of secrecy.

Why? There are a few sets of figures around, they must be similar to the CFS figures.

Someone must have the CFS figures.

Hopelessly_Hopeful

longtermplanner wrote: »

Sorry, no-one is going to do this. An advisor who has access to the CFS figures is bound by complicated blood oaths that will result in their hair turning green and them being struck dumb forever if they break their oath of secrecy.

I agree this is enshrined in legal constraint.

The point many of us are frustrated with is that just because it is legal doesn't make it moral!

For goodness sake transparency guys!

HHx

UserJong_2

where is the nearest place to the cfs figures?