Income/expenditure - are Electricity + water Expenditure(if they are to be included)

Galeeno

when doing an income expenditure form (to be submitting it to a DMP company)

do you include monthly payments for
-electricity payments and water payments, which you are currently paying..?

but you intent to 'include' these payments/debt in the NEW debt management plan?

eg
electricity = £60 a month
Water bill = £40 a month

so £100 a month going out to them 2,

but if their debts (which have built up) are to be included into the new DMP, then would they be included in the 'expenditure' part?

if you include this.....wouldn't this affect the 'disposable' income?
- as AFTER the plan is made, you will not be paying the £60 and £40 ?

double_mummy

you include your ongoing costs as expenditure and any debts as part of the DMP

so if you have a 300 water debt and your expected bill for the next 6 months is 600 (just to make it easy) you would include 100 per month as expenditure and the 300 as part of the DMP otherwise you will just be building up more debt and it will accurately reflect what you are paying

Galeeno

double_mummy wrote: »

you include your ongoing costs as expenditure and any debts as part of the DMP

so if you have a 300 water debt and your expected bill for the next 6 months is 600 (just to make it easy) you would include 100 per month as expenditure and the 300 as part of the DMP otherwise you will just be building up more debt and it will accurately reflect what you are paying

Thanks too.Thanks too.

That has made it a bit clearer, but also feel a bit more confused lol.


can you explain it in a slightly different way please,
if you don't mind.

double_mummy

you have a pot that you need to fill each week this is on your right
you have a pot that you didnt fill one week (arrears) on your left
you have to continue to fill a pot on the right each week whilst slowly over many weeks filling up the pot on your left
if you dont fill another pot on your right it will move to the left and make higher arrears for you

so you keep up with your pots on the right so you dont get new pots on the left

and slowly fill the pot on the left so that you will then be back up to date

is that a bit better?

eyeopener2

A DMP company? Which one?