£75 surplus income
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It's surplus income without paying debts ( which you won't be doing in a dro)
You can include your monthly payment to council tax even if some of that is being covered.1 -
fatbelly said:It's surplus income without paying debts ( which you won't be doing in a dro)
You can include your monthly payment to council tax even if some of that is being covered.
So just to make it clear as I’m not the sharpest, say debt repayments are approx £250 per month , they’re not taken into account to get you inside the £75 surplus ?
Thanks again.0 -
You do not include credit payments in your budget.
A DRO is designed for those who have basically no money to pay there debts after taking into account all essential spending.
So say your monthly income is £1200, and you have debt payments of £280 per month to service.
Your essential bills, not including debt repayments, amount to £1.160.
That would leave a disposable income of £40, and a shortfall for debt repayments of £240.
So your £40 disposable income fits nicely within the £75 per month limit.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
sourcrates said:You do not include credit payments in your budget.
A DRO is designed for those who have basically no money to pay there debts after taking into account all essential spending.
So say your monthly income is £1200, and you have debt payments of £280 per month to service.
Your essential bills, not including debt repayments, amount to £1.160.
That would leave a disposable income of £40, and a shortfall for debt repayments of £240.
So your £40 disposable income fits nicely within the £75 per month limit.0
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