Couple of questions

023456789

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.................... 1

Monthly Income Details
Monthly income after tax................ 1040
Partners monthly income after tax....... 0
Benefits................................ 81.4
Other income............................ 0
Total monthly income.................... 1121.4

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 134.33
Electricity............................. 89.5
Gas..................................... 0
Oil..................................... 0
Water rates............................. 34.32
Telephone (land line)................... 45
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 173
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1051.15


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Merton council.................150.......60........0
BoS (Big Loan).................9744.92...1.........0
Lloyds TSB Loan................913.26....1.........0
O2 ............................56.36.....1.........0
Soliciter from sale ...........400.......25........0
Bank of Mum and Dad............700.......25........0
Tesco Insurance................45.29.....1.........0
HSBC Overdraft 2...............590.......1.........0
HSBC Overdraft 1``.............590.......1.........0
Tocatto - Ibuyeco..............87.04.....1.........0
Thames Water...................136.3.....1.........0
HSBC card......................3756.75...1.........0
Lloyds TSB card................1041.3....1.........0
EDF............................750.......1.........0
A & A..........................370.68....1.........0
Littlewoods....................506.02....1.........0
Total unsecured debts..........19837.92..123.......-


Monthly Budget Summary
Total monthly income.................... 1,121.4
Expenses (including HP & secured debts). 1,051.15
Available for debt repayments........... 70.25
Monthly UNsecured debt repayments....... 123
Amount short for making debt repayments. -52.75

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -19,837.92
Net Assets.............................. -19,337.92

Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.Hi

I am looking at going down the BR route and have a couple of questions relating to that.

EDF are currently my energy supplier and as you can also see I have a debt to them as well. I am in the same situation as well with the water rates although I am paying that back slightly better with my monthly repayments (just to clarify, I haven't listed the water rate arrears in the debts, the debt to Thames Water is from a previous property). When I go BR what will happen with those utility suppliers - will they cut us off? Or will they force a payment meter on us?

I owe 2 different councils arrears on council tax although by the time I am made BR it will probably be down to 1. Both have liability orders taken out as well. What happens to the arrears with the council tax please?

I've looked around the forums but not really seen an answer.

Thanks for any help

fermi

Utility and water debt and arrears on council tax will go into the BR, even if they have a liability order.

You may be put on a prepayment meter or you may not. Either way, and debts on the account should be zeroed when the BR order is made and a "new" account set up by your supplier.

tigerfeet2006

Do you not get any tax credits? Are you entitled to any help with the rent or council tax?

Have you had any advice about your options from the debt charities in Fermi's signature?

023456789

We are working with Stepchange at the moment, it's been an uphill battle that still hasn't been sorted to get tax credits! Basically we have to re-apply for them, which we are doing at the moment but realistically wont have them before the end of the summer.

To the best of my knowledge we don't qualify for any rent / council tax help.

Stepchange at the moment are advising bankruptcy for myself and DRO for my wife. It's just a case of saving/finding the money for the fees at the moment.

tigerfeet2006

Pop your details in the Turn2us benefits calculator and check

http://www.turn2us.org.uk/benefits_search.aspx

023456789

Thanks all for the help so far.

Another thing that has popped into my head is my mobile phone contract.

It's a sim only contract with o2 which at the moment I am paying £15 per month,whilst I have fallen into arrears in the past at the moment I am up to date on the account. Would I be in danger of them shutting the account down do you know? My biggest concern is not loosing the contract but loosing the number which I've had for about 8 years and is currently posted all over the job hunting sites as part of my job hunt.

Also having gone through the form 6-28 one question has jumped out at me
Do you have the use of a motor vehicle Yes No that you do not own?





The answer for me is yes but it's my parent's and I am a named driver on their policy, why do I need to list the value of the car? Would it cause issues?