Personal Guarantee

ES19901990

So when working payment plans for CCJ’s and submitting budgets how would it work?

I feel I would need a DMP for my unsecured personal debts. 

But my personal guarantee on the business lease equipment is likely to take me to court and pursue a CCJ which I would need to show a budget and pay monthly.

I would have around £300pcm left for payments so would I do £150 pcm to DMP then show the court for the CCJ I only have £150PCM left for the CCJ on £36000 which would take years and years.

MattMattMattUK

Can you complete an SOA?

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

ES19901990

Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 2

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 1951

Partners monthly income after tax....... 0

Benefits................................ 830

Other income............................ 0[b]

Total monthly income.................... 2781[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 735

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 172

Electricity............................. 80

Gas..................................... 80

Oil..................................... 0

Water rates............................. 45

Telephone (land line)................... 0

Mobile phone............................ 61

TV Licence.............................. 15

Satellite/Cable TV...................... 0

Internet Services....................... 30

Groceries etc. ......................... 555

Clothing................................ 45

Petrol/diesel........................... 150

Road tax................................ 5

Car Insurance........................... 45

Car maintenance (including MOT)......... 45

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 200

Medical (prescriptions, dentist etc).... 20

Pet insurance/vet bills................. 0

Buildings insurance..................... 10

Contents insurance...................... 10

Life assurance ......................... 45

Other insurance......................... 15

Presents (birthday, christmas etc)...... 0

Haircuts................................ 0

Entertainment........................... 35

Holiday................................. 50

Emergency fund.......................... 35[b]

Total monthly expenses.................. 2483[/b]

[b]

Assets[/b]

Cash.................................... 1000

House value (Gross)..................... 215000

Shares and bonds........................ 0

Car(s).................................. 4000

Other assets............................ 0[b]

Total Assets............................ 220000[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 147000...(735)......0[b]

Total secured & HP debts...... 147000....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Business Lease.................39000.....600.......0

Personal Loan..................23500.....483.......0

HSBC Loan......................12500.....221.......0[b]

Total unsecured debts..........75000.....1304......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 2,781

Expenses (including HP & secured debts). 2,483

Available for debt repayments........... 298

Monthly UNsecured debt repayments....... 1,304[b]

Amount short for making debt repayments. -1,006[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 220,000

Total HP & Secured debt................. -147,000

Total Unsecured debt.................... -75,000[b]

Net Assets.............................. -2,000[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

ES19901990

Does my SOA look acceptable 

ES19901990

Can I just ask again about CCJ payment plans an and how it would work. My debt would be for £39000 for the personal guarantee CCJ. 

I also have £35000 unsecured personal debt which would need a DMP. 

If I was explaining to the court I have £300pcm available per month to pay my debts. How would I show say £150 for the ccj and I would need £150 for the DMP which is not set up yet while waiting for the debts to default?

ES19901990

ES19901990 said:

Can I just ask again about CCJ payment plans an and how it would work. My debt would be for £39000 for the personal guarantee CCJ. 

I also have £35000 unsecured personal debt which would need a DMP. 

If I was explaining to the court I have £300pcm available per month to pay my debts. How would I show say £150 for the ccj and I would need £150 for the DMP which is not set up yet while waiting for the debts to default?

Is anyone able to advise on this, sorry for being a pain, i'm just finding it so confusing.

Grumpelstiltskin

Look where are you at on a CCJ?

Has one been awarded?

Are you just thinking what might happen in the future?

If it's the second one, who knows and what is the point of thinking about it now?

ES19901990

Hi Thank you, so it has not happened yet, but the company I do the lease through do
pursue CCJ’s if you can’t make full payment which I can’t.

It’s causing me sleepless nights so just wondered how I will fill in the payment forms when they arrive and indicate I need money in place for the DMP as well?

Just looking to ease the worry really, apologies.

Grumpelstiltskin

Worrying about it now is A pointless and B Causing you worry about what might happen but might not happen.

You might get hit by a comet tomorrow, do you worry about that?

sammyjammy

If you had £300 left then you would apportion it across all of your debt including the potential CCJ, you offer them the amount of money this results in, if they don't accept it then they pursue the CCJ, as part of your defence you submit the SOA, tell them you are making these payments and thats all you can afford and the court agrees the monthly payment, you make that payment monthly for however long it takes for the debt to be repaid.