cant stop obsessing about SOA's

Bella_Smythe

we have decided to go BR, definately, with our level of debt and the house shortfall dont really think theres any other option. but we cant do it just yet for various reasons, saving BR fees and deposit for a rental house/flat, also whether to let Leeds reposess before or after, voluntary or not, etc, etc.
but i find im obsessing about SOAs. check the forum every day and read ones everyone has posted. and im constantly making 'dummy' ones for ourselves to (a) see if we can not get an IPA/IPO (sorry if this offends the moral majority) and (b) see if we will actually be able to live. aaaarrrggggh. i need to stop doing this till we actually need to do it but its on my mind 24/7 just about/
Bella

debt_doctor

Hi,
If any of your SOAs leave you wondering if you will be able to live then if any IPA resulted from them then you wouldn't sign it, would you?

DD

wharty

Our SOA eft us short of money and well below the government guidelines. What has happened though is we have been put on the nil tax code and we are being allowed to keep some of the tax!

Couldnt believe it when they told us. So hopefully that will make you feel better. If you are struggling and have a defecit on your SOA you may find you get to keep some of the tax rather than it all go to Moonbeever.

sniggings

wharty wrote: »

Our SOA eft us short of money and well below the government guidelines. What has happened though is we have been put on the nil tax code and we are being allowed to keep some of the tax!

Couldnt believe it when they told us. So hopefully that will make you feel better. If you are struggling and have a defecit on your SOA you may find you get to keep some of the tax rather than it all go to Moonbeever.

if they agree you need more money to live, surely they are admitting your IPA is too much! or do you not have an IPA?

I'm shocked they would let you keep your tax money! surely that's not allowed and would guess it's also aagainst some law?

wharty

sniggings wrote: »

if they agree you need more money to live, surely they are admitting your IPA is too much! or do you not have an IPA?

I'm shocked they would let you keep your tax money! surely that's not allowed and would guess it's also aagainst some law?

No, we cant afford an IPA but we are on a nil tax code til April 14. Think it's £280 tax to Moonbeever but they will only be taking £250. The other £30 is for us to keep to help with cost of living.
We were well below the government guidelines, i.e £80 per week on food etc for 3 people.

Bella_Smythe

thanks guys. is that what 'food' allowance is then Wharty £80 per week for three people? does that include cleaning and toiletries?

023456789

£80 per week on food is the allowance - wow, at the moment that seems like a luxury as our budget at the moment only allows for £40 per week including cleaning products and toiletries

sniggings

wharty wrote: »

No, we cant afford an IPA but we are on a nil tax code til April 14. Think it's £280 tax to Moonbeever but they will only be taking £250. The other £30 is for us to keep to help with cost of living.
We were well below the government guidelines, i.e £80 per week on food etc for 3 people.

what government guidelines? not sure what you mean as if you were below then you could claim benefits, as benefits are the lowest the government say you need to live on, if you can't claim any then you must be above that level.

You say you are ment to pay £280 tax to MB, that would mean you are on around £26k a year, seems a decent wage for 3 people, and can't believe the government have guidelines that say you need more than that for 3 people.

I'm not trying to be argumentative but I just can't understand how they can say you are below the guidelines when it seems you are not as you are working and also tell you that you can keep some tax, very strange.

So what happens when the Nil tax code finishers in April? do they then send you £30?

anyway, looks like you have got a decent OR so well done there :beer:

izools

Salary is relative. £26K isn't a lot if OP and their OH each require their own car, possibly for medical reasons, nor is it a lot if they live in a part of the country where rent / mortgage on a property big enough to house their family is through the roof.

Their child might engage in extra curricular activities which require funding, e.g. learning an instrument and / or sports / hobbies etc; no official receiver would tell parents to stop paying for something like that I'm sure, just ensure they do it the most cost effective way.

Even in Exeter where I live £26K salary for a family of three would require certain compromises or sacrifices.

wharty

sniggings wrote: »

what government guidelines? not sure what you mean as if you were below then you could claim benefits, as benefits are the lowest the government say you need to live on, if you can't claim any then you must be above that level.

You say you are ment to pay £280 tax to MB, that would mean you are on around £26k a year, seems a decent wage for 3 people, and can't believe the government have guidelines that say you need more than that for 3 people.

I'm not trying to be argumentative but I just can't understand how they can say you are below the guidelines when it seems you are not as you are working and also tell you that you can keep some tax, very strange.

So what happens when the Nil tax code finishers in April? do they then send you £30?

anyway, looks like you have got a decent OR so well done there :beer:

Completely understand sniggins i couldn't believe it when my wife told me. It was based on allowances so for instance we didn't claim for clothing or haircuts or christmas or birthday presents. OR could see we were struggling to break even. She said on paper we are making a loss but it would be ok as it will even out over the year. She said we would need to earn 2-300 more per mnth to get an IPA! I still dont really understand it myself really.

I think the OR is so used to seeing people putting every cost down to avoid an IPA that when they see somebody who is struggling to even pay for a christmas present that they may be a bit more forgiving?

My wife earns a good wage, however because i was on a very high wage last year we are not able to get any benefits this year. We have to wait a year before we can claim.

Like i say, i don't understand it all to be honest but i will take it.

wharty

Bella_Smythe wrote: »

thanks guys. is that what 'food' allowance is then Wharty £80 per week for three people? does that include cleaning and toiletries?

Not entirely sure Bella, but looking around it seems £90 per week including toiletries and cleaning is the going rate. We spend £80 and it's a struggle but i do all the cooking from scratch as i no longer work. Suppose it's harder for people working all the time that need to buy microwave meals etc and £90 is more realistic. We have to include clothes for our 4 year old daughter in that too!