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DebtWoes debt advice
DebtWoes
Posts: 19 Forumite
Hi, I've just started thinking about how to sort out my debts **head of the sand**. I've had debt problems for years as well as mental health problems - classified as a disability. I'll put down more details later, but I just had a random question pop into my head...
I've been looking at some of the options, and some of them mention the amount you have left to spend after normal expenses etc. For example a DRO. Do these things take into account student loan deductions, and things like pension contributions from your pay? Would they be concerned if pension contributions were high?
Thanks, I'll post more info later
I've been looking at some of the options, and some of them mention the amount you have left to spend after normal expenses etc. For example a DRO. Do these things take into account student loan deductions, and things like pension contributions from your pay? Would they be concerned if pension contributions were high?
Thanks, I'll post more info later
0
Comments
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Hi there and welcome to MSE.
When you apply for a legal form of insolvency (like a DRO) your spending may be looked at in more detail and if your pension contributions were particularly high that may be questioned - but it will depend on the overall situations. Generally speaking, student loan deductions and pensions are allowable living costs and should be listed on a SOA.
Laura
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Welcome aboard, and well done for having your "head out of sand" moment too!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Thanks, I've been trying to think about my figures but my head is a complete mess right now :-(0
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