counselling fees..

sourcrates

umpty wrote: »

ok my soa..

rent 400
phone 18
satalite 8
car 110
fuel 230
food 130
meds 9
dentist 5
hair 10
union 21
clothes 30
gym 17
storage 44
counselling 347

total 1380
incoming 1430

surplace 50


i currently live with gf but this may change. obv if i got my own place my outgoings would increase drastically..

That is far too basic, you need to fill it in as accuratly as possible, use lemmonfool linked to below :


https://www.lemonfool.co.uk/financecalculators/soa.php

umpty

this is pretty much as accurate as it gets..

car includes service/repair/tax
food includes toiletries
clothes includes shoes

my unsecured debt totals 19400
minimum payments per month 547

that covers absolutely everything.

mwarby

umpty wrote: »

ok my soa..

rent 400
phone 18
satalite 8
car 110
fuel 230
food 130
meds 9
dentist 5
hair 10
union 21
clothes 30
gym 17
storage 44
counselling 347

total 1380
incoming 1430

surplace 50


i currently live with gf but this may change. obv if i got my own place my outgoings would increase drastically..

You might have issues with the gym and storage fees (and of course counselling fees) but I think your missing
- mobile or landline phone
- Broadband
-TV license

Food seems a bit low, I had 200 a month about 6 years ago,but thats as a single person not half a couple

I agree that the SOA is incomplete, for instance would be good to know roughly how much debt there is (to see for instance if a DMP would be viable)

mwarby

umpty wrote: »

this is pretty much as accurate as it gets..

car includes service/repair/tax
food includes toiletries
clothes includes shoes

my unsecured debt totals 19400
minimum payments per month 547

that covers absolutely everything.

how much is car worth ?
how much fuel is domestic, how much car ?

Your debts are also pretty close to DRO limit, wouldn't take many fees or much intesrt (esp if payday loan level) to go over this

umpty

its just the counselling fees bring my outgoings up so im just about eligible for dro i think.

just wondering whether counselling fees would be acceptable or not. i can produce medical evidence.

i know 80 per session sounds alot but i think its pretty average nowadays. there is certainly more expensive options.

as cloud88 mentioned above there is cheaper options so wondering if my fees would be accepted.

long term counselling is really about forming a trusting bond between client and counsellor. finding the right one is difficult and swapping and changing can prove counter productive..

umpty

oh sorry yes car is worth 3000.. no other assets.

fuel is just for car.. i travel to get to work.

Willing2Learn

This thread desperately NEEDS a fully completed SOA.

mwarby

umpty wrote: »

oh sorry yes car is worth 3000.. no other assets.

fuel is just for car.. i travel to get to work.

The car needs to be less than £1000 for a DRO. Do you pay for household fuel or is that in with rent ?

To me it sounds like
- A DRO won't work, too close to limit on debt, car to valuable and if counselling fees aren't accepted your disposable income is too high
- Bankruptcy makes sense, but its likely that counselling won't be allowable as an expense and you'll be in a 3 year IPA
- an IVA may be an option (one I've used personally, but am loathe to suggest most of time). the big pro is you can negotiate your budget(whether creditors accept your proposal is another matter). the con is that its 5 years not 3, it can fail, and payments can go up, you can pay 100% of debt plus fees
- a DMP could buy you some time, but again the counselling may make creditors less than happy to stick with it, and it would take a very long time to repay. Maybe an option if conselling will finish soon

umpty

Total monthly income 1,430
Monthly expenses (incl. HP & secured loans) 1,033
Available for debt repayments 397
UNsecured debt repayments 547
Amount short for making debt repayments -150
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 3,000
Total Secured & HP Debt -0
Total Unsecured Debt -19,245
Net Assets -16,245
Household Information
Number of adults in household 2
Number of children in household 1
Number of cars owned
Income, Expense, Debt & Asset Details
Income Amount(£)
Monthly income after tax 1430
Partners monthly income 0
Benefits 0
Other income 0
Total monthly income 1430
Expenses Amount(£)
Mortgage 0
Secured/HP loan payments 0
Rent 400
Management charge (leasehold property) 0
Council tax 0
Electricity 0
Gas 0
Oil 0
Water Rates 0
Telephone (land line) 0
Mobile phone 19
TV Licence 0
Satellite/Cable TV 8
Internet services 0
Groceries etc. 130
Clothing 30
Petrol/diesel 230
Road tax 22
Car Insurance 55
Car maintenance (including MOT) 33
Car Parking 0
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 9
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 0
Haircuts 10
Entertainment 17
Holiday 0
Emergency Fund 0
storage 44
opticians 5
union 21
Total monthly expenses 1033
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 0 (0) 0
Secured & HP Debt totals 0 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
card 9796 250 0
card 3848 116 0
card 2323 70 0
overdraft 561 29 0
card 2717 82 0
Unsecured Debt totals 19245 547 -
Asset Description Value (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 3000
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 3000

Willing2Learn

Hi,

How come all the cards and overdraft are at 0% APR?

Edit: And where is the monthly amount for counselling? - as I haven't spotted it yet @ £347/month