Thriftkitten by name NOT by nature....

Thriftkitten

Ok, I have spoken to National debtline also today which really helped, the phone call was not at all rushed and a lot more concise, the lady will send everything to me along with charities that can help with council tax arrears and also "turn2us" for a benefit check, she is also sending details of British Gas who can maybe help with BR fees.

I was also encouraged to speak with the insolvency court helpline regarding the car as this is a MUST for work, I spoke with a very helpful man who said that although not 100% he couldn't see a reason the BR OR would take the car because it was required to get me to work, which is a 50 mile round trip working different shifts as I work in a hospital. And because I live semi rural I a assumming it would take at least 2 buses to get to work for 7am and late shift pattern finishing at 8pm. I also have a daughter who goes to school outside of the town I live in.
Under the "Exempt Property" Chapter 30 part 6 exempt vehicle with outstanding finance.
Anyway this was not a definative answer, but more of a lean toward, so still a worry, but he did state that it would be more beneficial to the OR for me to be in employment as opposed to not being able to continue at y job.
I have also called my local BR court and their waiting time is only a couple of days, so very quick and need to apply to BG for help with fees as next point of call I think.

luvchocolate

Hi again....can I suggest you get your bank account sorted with any D.D sorted. I have a co op cash minder account, well 2 actually you get internet banking, but do not mention B.R just say you need basic bank account to help with budgeting. this needs to be in place before you go to court. The more preparation you do the easier it will be.
We are all here to help x

fermi

It would in practice be more a case of whether the payments on the car are much more than a reasonable alternative and whether they consider you having a car is nessesary rather than convenient.

They could not take the car or stop you paying for it, but if they don't think it's justified then they may not be prepared to include the payments and running costs in an income payments calculation or decision.

Thriftkitten

luvchocolate wrote: »

Hi again....can I suggest you get your bank account sorted with any D.D sorted. I have a co op cash minder account, well 2 actually you get internet banking, but do not mention B.R just say you need basic bank account to help with budgeting. this needs to be in place before you go to court. The more preparation you do the easier it will be.
We are all here to help x

Thank you for that, it was my next question, will open one asap to get wages transferred into and DD's i am hoping to keep

egrescrimp

I assume you are going for the bankruptcy option then? if so, please update your SOA so we can make sure you are maximising it fully for when you go through with things as we don't want you to be short and struggle if an IPA is put in place.

Thriftkitten

grr stoozing is down so cant access SOA and dont know how to post my nation*l D*btline one here as it says pdf or doc file only, I'm useless at this

TheGardener

I can see the car is important to you - if you do a DMP - will the current car last 7 years...?

If you stop paying creditors, it usually takes most of them a couple of months to realise whats going on - if you tell them you are planning DMP or BR they will start calling sooner in an attempt to get money out of you while they still can.
I said nothing and when the first calls started I just lied and made a breezy excuse I was switching banks and there must have been a hold up with the DD's - it was a line that bought me another 6 to 8 weeks and by that time I was BR

Thriftkitten

TheGardener wrote: »

I can see the car is important to you - if you do a DMP - will the current car last 7 years...?

If you stop paying creditors, it usually takes most of them a couple of months to realise whats going on - if you tell them you are planning DMP or BR they will start calling sooner in an attempt to get money out of you while they still can.
I said nothing and when the first calls started I just lied and made a breezy excuse I was switching banks and there must have been a hold up with the DD's - it was a line that bought me another 6 to 8 weeks and by that time I was BR

Yes the car is the main worry.... plus I don't know what to do first.... buy myself some time to have some back up incase they do take the car in order to get to work, however by doing that wont the SOA be wrong because I would of had all kinds of charges and direct debit bounces slapped on.... Oh I wish I had a BR buddy, Im dizzy from wonderring what to do next

Thriftkitten

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 850
Partners monthly income after tax....... 0
Benefits................................ 870
Other income............................ 170
Total monthly income.................... 1890

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 170
Rent.................................... 433
Management charge (leasehold property).. 0
Council tax............................. 88
Electricity............................. 87
Gas..................................... 87
Oil..................................... 0
Water rates............................. 65
Telephone (land line)................... 10
Mobile phone............................ 95
TV Licence.............................. 14
Satellite/Cable TV...................... 15
Internet Services....................... 5
Groceries etc. ......................... 400
Clothing................................ 30
Petrol/diesel........................... 130
Road tax................................ 15
Car Insurance........................... 40
Car maintenance (including MOT)......... 10
Car parking............................. 6
Other travel............................ 23
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 30
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 15
Total monthly expenses.................. 1823


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 6000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 9000.....(170)......0
Total secured & HP debts...... 9000......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
overdraft......................2400......55........0
catalogue......................400.......35........0
Store card 1...................500.......25........0
CC.............................3500......65........0
SC3............................180.......20........0
SC 2...........................350.......20........0
Total unsecured debts..........7330......220.......-


Monthly Budget Summary
Total monthly income.................... 1,890
Expenses (including HP & secured debts). 1,823
Available for debt repayments........... 67
Monthly UNsecured debt repayments....... 220
Amount short for making debt repayments. -153

Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total HP & Secured debt................. -9,000
Total Unsecured debt.................... -7,330
Net Assets.............................. -10,330

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Please feel free to correct or add any info

egrescrimp

How come you've only gone for £15 Emergency fund and £10 for hair cuts?

Holiday is still 0, that should be at least £40 as you are unlikely to get the presents bit approved, you should be maximising the areas you are allowed Clothing is also far too low and should be pushed up to a minimum of £75.