SOA/DRO holiday confusion

Freddiesmum

Hi, I am currently doing my SOA having received my DRO paperwork.

Am I able to put aside a little (maybe £10 a month) for a holiday? I've read conflicting advice on the forums.

I don't want to be frivolous but my daughter has mental health problems which have escalated in the last few years, I've borne the brunt of these and ended up having a complete breakdown last autumn. She only lives 500 yards away from me and the problems are daily and constant.

The thought of having a long weekend in a caravan away from here would be lovely.

joedenise

If you only want to put a small sum like £10 away for a holiday can you not "hide" it in another category such as groceries, utilities or clothing?

Denise

fatbelly

Hi

Holiday savings are not itemised separately on the DRO application but £10 in the 'other' section is not going to be blinked at. Remember you can still have up to £50 surplus and the 'trigger figures' (though secret) are quite generous for food & housekeeping if you need a bit more there.

You have probably been sent some documents by stepchange or whoever is employing your Intermediary. Be guided by them.

With regard to the actual saving of money, you shouldn't accumulate more than £1000 during the moratorium but that's unlikely to be a problem.

Freddiesmum

Thank you for replying fatbelly, your advice was really helpful

vaper

fatbelly wrote: »

Hi

Holiday savings are not itemised separately on the DRO application but £10 in the 'other' section is not going to be blinked at. Remember you can still have up to £50 surplus and the 'trigger figures' (though secret) are quite generous for food & housekeeping if you need a bit more there.

You have probably been sent some documents by stepchange or whoever is employing your Intermediary. Be guided by them.


With regard to the actual saving of money, you shouldn't accumulate more than £1000 during the moratorium but that's unlikely to be a problem.

Can you explain "trigger figures" please?, sorry, still learning the lingo.

fatbelly

vaper wrote: »

Can you explain "trigger figures" please?, sorry, still learning the lingo.

http://www.cfs.moneyadvicetrust.org/faqs.asp?page_id=37

Freddiesmum

I've now completed my SOA, could someone take a look please?

Council tax £75.00
Rent £500.00
Car ins £39.00
Gas £49.00
Electric £49.00
Calor gas £20.00
Water £34.00
Car tax £19.00
Sky broadband/phone £10.00
Virgin TV £20.00
Car maintenance £40.00
EE mobile £35.00
TV Licence £13.00
Petrol £130.00
Food/toiletries £200.00
Cleaning £20.00
Dry cleaning £5.00
Clothing £30.00
Hair £10.00
Optician/Dentist £25.00
Health £50.00
Repairs £30.00
Breakdown cover £10.00
House insurance £15.00
Pets £60.00
Parking £5.00
Vet bills £25.00
Leisure £40.00
Gifts £20.00
£1,578.00

National_Debtline

Hi there Freddiesmum


You'll probably get more feedback on your SOA if you put it into a template like this one before re-posting here:


http://www.stoozing.com/calculator/soa.php


Until then it's hard to comment at length as we don't know the size of your household or your sources of income.


Dennis
@natdebtline

Freddiesmum

Thank you, it is for 1 person and 2 dogs and 3 cats:

Household Information[/b]
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1585
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1585

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 49
Gas..................................... 49
Oil..................................... 20
Water rates............................. 34
Telephone (land line)................... 10
Mobile phone............................ 35
TV Licence.............................. 13
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 280
Clothing................................ 30
Petrol/diesel........................... 130
Road tax................................ 18
Car Insurance........................... 39
Car maintenance (including MOT)......... 40
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 75
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 30
Total monthly expenses.................. 1557


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 500

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Various........................14000.....0.........0
Total unsecured debts..........14000.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,585
Expenses (including HP & secured debts). 1,557
Available for debt repayments........... 28
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 28

Personal Balance Sheet Summary
Total assets (things you own)........... 500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -14,000
Net Assets.............................. -13,500

sourcrates

Looks reasonable to me.

Getting the surplus down to as near zero as possible, makes your argument more convincing though.

fatbelly

Technically entertainment and emergency fund are not allowable expenses, and take you over plus 50.

And your groceries are already high for one person.

But it's close - and your intermediary may be able to make it work.

Put your whole phone/internet/etc package down as 'land line'