Income & Expenditure

up_the_creek_5

Hi

I am planning on going BR before the end of the yr. However, i have been making pymts on a DMP via Payplan sine Dec.

What i am wondering is that on my Payplan budget there are amounts i save for things like car insurance/servicing; emergencies; xmas & birthdays etc. I keep this money either in cash or in my mother's saving a/c. This amounts to several hundred pounds. I have spent some rec on car repairs (cash in hand to save paying VAT), i know this wrong but i am desperate.

However, the other things i have budgeted for are not due until the end of the yr so what i want to know is will the OR want this money even though it is accounted for in my budget, will i have to declare it as cash in hand.

Also if there is expenditure/cash wdwls i cannot give a reason for what can the OR do.

Any advice please.

PixiePie

As always, this is just my ramblings, and strongly advise you to contact National Debt Line/CSSS etc, but could you bring some of the expenditure forward before BR, eg car servicing/insurance - say it needs it in Jan, but you plan to go BR in Dec could you do this in Nov instead? With regards to Xmas pressies, can you not buy little things now and put them away, therefore them being part of your general housekeeping monies? You are allowed an amount for car servicing/MOT/Tax/Insurance on your I&E for BR (as I am aware and everything I have read - again check with 'proper' people, I don't want to tell you something wrong, and haven't actually lived through BR/OP yet, am just trying to get the money together for it).

Hope that helps a little.

Good luck