help help help

niclaw

please I need advice

I was claiming IB for 10 yrs due to arthritis and depression this stopped in june my husbands wage has decreased over the years and to say his wage was better when he left school is an understatement, and now I am my whits end as what to do. would I qualify for a DRO? I was bankrupt 12yrs ago so this is now over,



statement of affairs


Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1250
Benefits................................ 994
Other income............................ 0
Total monthly income.................... 2244
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 70
Gas..................................... 110
Oil..................................... 0
Water rates............................. 53
Telephone (land line)................... 18
Mobile phone............................ 50
TV Licence.............................. 12.5
Satellite/Cable TV...................... 32
Internet Services....................... 7.5
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 40
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
Entertainment........................... 50
Holiday................................. 20
Emergency fund.......................... 30
Total monthly expenses.................. 1919
Assets[/b]
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
next...........................2000......185.......0
kays...........................1850......110.......0
simply be......................1250......67........0
provident......................2500......200.......0
barclaycard....................1200......22........0
aqua...........................500.......18........0
capital one....................500.......25........0
vanquis........................3000......135.......0
Total unsecured debts..........12800.....762.......-

Monthly Budget Summary
Total monthly income.................... 2,244
Expenses (including HP & secured debts). 1,919
Available for debt repayments........... 325
Monthly UNsecured debt repayments....... 762
Amount short for making debt repayments. -437
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -12,800
Net Assets.............................. -12,800
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

please, someone advise me

thank you

Granariesgirl

Hi Niclaw,
Well done for wanting to sort yourself out. Here's my opinion on bits of your SOA that stood out for me. I can't advise on debt repayment but there are many wiser & more experienced souls than I who will come along & help - if at any moment you despair, go read the success stories thread - there will be people in much worse situations than you can imagine & they succeeded so SO CAN YOU!
I will be cheering you on from my corner of England.
:wave:

niclaw wrote: »

statement of affairs

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1250
Benefits................................ 994
Other income............................ 0
Total monthly income.................... 2244
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 600
Management charge (leasehold property).. 0
Council tax............................. 113

Electricity............................. 70
Gas..................................... 110
These amounts seem awfully high to me - see about changing provider or making home waaaay more energy efficient.
Water rates............................. 53
Telephone (land line)................... 18
Mobile phone............................ 50
Wooo - that's an awful lot, unless it's for multiple mobiles? Check contracts & see if you can find cheaper elsewhere - if tied in for a while yet, negotiate with the company/ies!
TV Licence.............................. 12.5
Satellite/Cable TV...................... 32
This is a luxury - cancel it & put money towards your debts, you can always have it again when you can afford it. Otherwise, if you flatly refuse to give it up, at least ring them & say you're thinking of leaving & see what you can save... & cut back on the packages & throw the savings at the debt.
Internet Services....................... 7.5
The phone, internet & satellite come to a total of £57.50 per month! See if you can get an all-in-one package for cheaper (I have all inclusive unlimited BB, 24/7 UK & International calls & 0845/70 + line rental for £21) - I'm sure you could get a great deal somewhere!
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 40
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10
Buildings insurance..................... 0
Contents insurance...................... 18
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 30
That's £360 per year - try & find cheaper alternatives, hairdressing school, modelling etc.
Entertainment........................... 50
Holiday................................. 20
Emergency fund.......................... 30
Bravo!
Total monthly expenses.................. 1919
Assets[/b]
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
next...........................2000......185.......0
kays...........................1850......110.......0
simply be......................1250......67........0
provident......................2500......200.......0
barclaycard....................1200......22........0
aqua...........................500.......18........0
capital one....................500.......25........0
vanquis........................3000......135.......0
Total unsecured debts..........12800.....762.......-

Monthly Budget Summary
Total monthly income.................... 2,244
Expenses (including HP & secured debts). 1,919
Available for debt repayments........... 325
Monthly UNsecured debt repayments....... 762
Amount short for making debt repayments. -437
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -12,800
Net Assets.............................. -12,800
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Keep a spending diary for a week.
Look at threads on: reducing grocery spending, No Spending Days etc. on here.
Good luck with your DF journey.

LittleMissDetermined

Granariesgirl beat me to making the same comments on your SOA, the utilities are high, does this include debt repayments or are you in credit?

Clothing is also quite high at £50 each month, have a look at ebay and local charity shops for some bargains. I can't remember the last time I paid full price for an item of clothing, lol

Opting for freeview would be beneficial or at least see what they will reduce your package to if you threaten to leave, just be mindful of them putting you into a contract to stop you from leaving if you want to further down the line.

Groceries - my advice here would be to check out the boards as advised already, I cook in bulk and freeze which saves money and waste.

Hope we have helped in some way and I wish you luck on your debt-free journey!

LMD x

niclaw

thanks for your advice I will defo take it on board,
mobiles is for multiple 3 in total
gas and electric are with british gas, not in credit nor do I owe any that's just price I have to pay to clear my bills, looked at having loft insulation and cavity wall but we don't "qualify" plus house is privately rented
we had sky when we moved in so still under contract as not been here 12months left plus only those we get up our street, unfortunately we don't get virgin media, so that's the package off them for tv ,phone n broadband and i'm afraid emergency fund is spent every month!

just really wanted to know if I would qualify for a DRO?

fermi

niclaw wrote: »

just really wanted to know if I would qualify for a DRO?

You yourself? Is your personal income solely benefits?

You may, but post on the IVA & DRO board and talk to the debt charities to enquire.