I+e Advice Please

chrisindebt

hi guys can you have a look at my i+e and give me your comments on amounts and anything ive missed,im the only wage earner and i have a wife and two kids,

income £2644
benifits £174
total £2818


outgoings

mortgage £1072
house keeping £525
groundrent £ 23
water £ 30
council tax £104
gas £120
electric £30
building insure £16
telephone/mobile £60
tv licence £14
satalite £10 no tv reception in area
house repairs £50
life insure £9
dental plan £37
vechicle service £10
road tax £9
motor insure £30
mot £4.50
breakdown cover £11
fuel +parking £90
school meal/work £56
pets £20
school trips/activ £20
percriptions £13
opticians £25
hairdressing £26
dry cleaning £10
clothing £80
personnal expences £60
newspapers £5
sports/hobbies £15
childrens pocket mon £40
charity/church £5
sundries/emergencies £45
holiday savings £80
sickness contingency £100 i do not receive sick pay other than statutary

total£ 2854.50

- earnigs= -36.50

should i leave as a negative or trim down to meet earnings???
thanks for any advice. just got my cab date, 2nd oct that means nearly two months after i asked for advice, i think im going to ring cccs but i hate doing things over the phone.

scaredwitless32

If its any consolation to you we waited nearly 6wks for ours, the service is just oversubscribed, its bound to be, as its the only FREE source available where you can talk to someone face to face , so there was bound to be a bit of a wait lots of people , like yourself (me included) prefer to do things that way, I am crap on the phone lol

I'll leave you SOA to others who are more knowledgeable

Good luck, and it wont be too long now

wherediditallgo

OK, just playing devil's advocate here

They won't allow you money for newspapers, sports/hobbies or the church donation. You'll be expected to cover the cost of those from whatever money you have left each month.

They may also think your monthly phone bill is a bit high - is the £60 your landline & mobile bills combined?

Sickness contingency - I'd be very surprised if they allowed that, as they don't normally allow you to save money towards an expense you haven't already got. I think they'd expect you to have taken out sickness insurance to cover you if you get sick.

Sundries - they don't seem to like that word, so if I were you I'd try to add some money for that to another expense. I also don't think they'll allow you the full £45, though I think that's a fair amount given that you have two children. You may also be asked to explain what 'personal expenses' covers - I don't think they'll allow that & sundries (or whatever name you call them).

Housekeeping - the last figures I looked at, the figure guideline for a couple with children was £461pm (previously it was £483pm). Your figure is a bit higher, so you may be expected to reduce that, especially given that you've also got a monthly gas bill of £120pm (seems very high, considering gas is usually cheaper than electricity).

Regarding the car - the car costs seem reasonable, but unless you can show why you need to have the car & provided it's not over about £1000 in value, you may lose it.

The allowances aren't set in stone, but some ORs are less understanding (OK, are tighter ) than others, & I think some of the figures you've given will be queried. Hope that helps.

chrisindebt

hi, the phone includes a contract mobile of £35 ,bt line £17 and £10 for personal calls on works mobile,does that sound ok,should i look for a sickness insurance policy and then include the payments, the housekeeping ive seen threads advising 525 was the max for family of 4?? gas,my last quartly was 260 in the summer so did a rough estimate elec was 90. i will be borrowing my dads little car(kia picanto) as ours is contract hire is is being repossed.we do need transpot as my son has a heart condition and coeliac disese so he has regular hospital appointments,on that subject they cant touch my dads car can they?? or am i being paranoid??
were do you think i should up any cost to include sundries etc
thanks chris

Posthinking

Hi, Dads car is safe so don't worry on that score. WDIAG is about spot on with the rest. Your life policy may be seized with the option of buying it back. If your car is going then some of the outgoings will go too. You've aimed high and in a good position to negotiate.

wherediditallgo

I think you should look into sickness insurance, if for no other reasons other than (a) £100pm won't go very far with your bills if you are sick, & (b) you can show the OR that you've tried to get it & can't get a reasonable policy. You can telephone any of the free advisory services (National Debtline, Consumer Credit Counselling Service, or the CAB) to check that the policy will be allowed - I think a policy would be cheaper, & you have more chance of getting money towards that than the £100pm. They can't touch your father's car - you have to give details of any vehicles you don't own but have the use of on your SOA, so you can explain that situation to the OR as well as in the 'Extra Information' section at the back of the form. You can also explain that you need the transport because of your son's health - I think that would be accepted. I'm still trying to think where you could include the sundries - maybe someone else can suggest something on that.

As for the housekeeping & holidays figures, I can see those amounts in posts by debt doctor (they work for the CAB) but not anywhere else, and not on the HMRC site here. You can still put them down, but be prepared for them to be reduced, as other people here have put less & had that happen. The OR will be aware of local living costs, so there will be a bit of flexibility in what they allow.

debt_doctor

Hi the figures we use at the cab for housekeeping are the british banking associations amounts that have been agreed with creditors as amounts they will not question. Housekeeping is listed £30 - £ 35 per person per week.

The information below is taken from the insolvency service technical manual, which is what should be reffered to regarding IPA's.


31.7.26 Holidays

Previous guidance stated that an allowance for holidays should not be included in the calculation of funds available for an income payments contribution, other than in exceptional circumstances, for example where a dependant was sick or disabled. Whilst extravagance is not endorsed in this respect, it may be considered a reasonable domestic need to allow the bankrupt and his/her family to benefit from a non-extravagant holiday as a break from routine. Expensive or luxury holidays (particularly if the holiday is abroad) are likely to cause offence to creditors but an allowance of between £60-£80 per month (amounting to £720-£960 per annum) for a household of 4 people should allow the bankrupt and his/her family sufficient funds to take a moderate annual holiday. Should the bankrupt consider this allowance insufficient to fund a holiday, he/she should be informed that any additional holiday cost that he/she may wish to incur must be funded from the amount of surplus income left with him/her after deduction of the assessed IPA/IPO contribution.


31.7.33 Expenditureitems which should NOT be allowed

The following provides a general list of expenditure items which should not be included when making an IPA/IPO calculation, unless the bankrupt can prove there are extenuating circumstances:

• Gym membership
• Sports expenses or club membership
• Additional pension contributions to enhance a pension
• Private healthcare insurance or similar (however see also paragraph 31.7.21)
• Social and entertainment expenses- see paragraph 31.7.34
• Satellite TV - see paragraph 31.7.35
• Broadband internet costs (unless shown to be necessary for the bankrupt's paid employment) - see paragraph 31.7.35
• Excessive mortgage payments - see paragraph 31.7.36
• Student Loans - see paragraph 31.7.37
• Regular payments to charitable and religious organizations/tithing - see paragraph 31.7.38

Any local OR not adhering to the technical manual and BBA amounts should be challenged, in the court if neccessary if you cant agree.

Best wishes.

debt_doctor

Hi the figures we use at the cab for housekeeping are the british banking associations amounts that have been agreed with creditors as amounts they will not question. Housekeeping is listed £30 - £ 35 per person per week.

The information below is taken from the insolvency service technical manual, which is what should be reffered to regarding IPA's.


31.7.26 Holidays

Previous guidance stated that an allowance for holidays should not be included in the calculation of funds available for an income payments contribution, other than in exceptional circumstances, for example where a dependant was sick or disabled. Whilst extravagance is not endorsed in this respect, it may be considered a reasonable domestic need to allow the bankrupt and his/her family to benefit from a non-extravagant holiday as a break from routine. Expensive or luxury holidays (particularly if the holiday is abroad) are likely to cause offence to creditors but an allowance of between £60-£80 per month (amounting to £720-£960 per annum) for a household of 4 people should allow the bankrupt and his/her family sufficient funds to take a moderate annual holiday. Should the bankrupt consider this allowance insufficient to fund a holiday, he/she should be informed that any additional holiday cost that he/she may wish to incur must be funded from the amount of surplus income left with him/her after deduction of the assessed IPA/IPO contribution.


31.7.33 Expenditureitems which should NOT be allowed

The following provides a general list of expenditure items which should not be included when making an IPA/IPO calculation, unless the bankrupt can prove there are extenuating circumstances:

• Gym membership
• Sports expenses or club membership
• Additional pension contributions to enhance a pension
• Private healthcare insurance or similar (however see also paragraph 31.7.21)
• Social and entertainment expenses- see paragraph 31.7.34
• Satellite TV - see paragraph 31.7.35
• Broadband internet costs (unless shown to be necessary for the bankrupt's paid employment) - see paragraph 31.7.35
• Excessive mortgage payments - see paragraph 31.7.36
• Student Loans - see paragraph 31.7.37
• Regular payments to charitable and religious organizations/tithing - see paragraph 31.7.38

Any local OR not adhering to the technical manual and BBA amounts should be challenged, in the court if neccessary if you cant agree.

Best wishes.

chrisindebt

thanks everyone for having a look ill tweek it and post again to see what you think. going to watch some tv and a few cold beers !!night night.cheers chris!!

debt_doctor

Why did that post twice ???