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silvertoothsilvertooth Forumite
240 posts
100 Posts
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What are the max allowances when working out your expenses?

we are earning £26k pa and our expenses don’t look that much but we really can’t pay our debts

Replies

  • TRX808TRX808 Forumite
    33 posts
    10 Posts Photogenic
    What are the max allowances when working out your expenses?

    we are earning £26k pa and our expenses don’t look that much but we really can’t pay our debts
    It depends on how many adults (and children) live in property I would suggest to complete online debt remedy tool on Stepchange web site, You said "We" but remember DRO application can not be joint. 
  • sourcratessourcrates Forumite, Board Guide
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    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
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    You most likely won`t qualify for a DRO when you earn so much, payments to creditors are disregarded for budgeting purposes in a DRO.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • silvertoothsilvertooth Forumite
    240 posts
    100 Posts
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    We are two adults and three kids
  • fatbellyfatbelly Forumite
    14.8K posts
    Part of the Furniture 10,000 Posts Cashback Cashier Car Insurance Carver!
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    Post a statement of affairs and we'll have a look. You make it sound like you do have surplus income when you say 'our expenses don’t look that much' 

    The 'max expenses' can be flexible if there is a genuine need for the expenditure.
  • silvertoothsilvertooth Forumite
    240 posts
    100 Posts
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    When I fill out the forms it looks like we have enough but the reality is we don’t have enough to live on, let alone keep paying off all these monthly payments.

    i supposed the problem is a lot of things our expanses go on may not be considered essential for example we do spend a lot on alcohol and cigarettes 
  • fatbellyfatbelly Forumite
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    Part of the Furniture 10,000 Posts Cashback Cashier Car Insurance Carver!
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    That's sort of the point of a statement of affairs - it makes you analyse where things are going.
    So keep a record of what you spend on alcohol and what you spend on cigarettes and put those figures in - then ask some hard questions about what needs to be cut and how.
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