Sense check please

Grumpelstiltskin

Tryingtofly11 said:

I was under the impression that the SOA was for our own calculations and not the creditors, under a self-managed DMP? 

You are not forced to show your  SOA to any  creditor, some will ask you.

You need  to stop paying all of the unsecured debts , do you have any joint accounts with your partner?  if so their credit record will be effected.

Then  you need to get a basic ( no overdraft ) account with a bank you don't owe money to, you need to transfer all vital direct debits manually, don't use banking switch service as it will transfer non vital payments.

Then you need to live without using credit and start to save an emergency fund.

Don't engage with your creditors, ignore phone calls and block numbers, ignore E Mails and texts but open any letters you receive by snail mail.

Then you wait for defaults to appear on your credit repot.

Keep coming on here for help as from now on things financially will be very different.

Tryingtofly11

Ok, thank you. Those cards are all in either mine or husband’s name so it’s a joint controlled explosion. 

I’m very thankful for all help now and in the future.

RAS

Doing an SOA is purely for your benefit. 

Going down the line, if you engage in a DMP even with with a free provider they will look at your accounts and could query payments to adult children. So shared utilities are less likely to be queried but 4 phone accounts would be, as would food for 4 people, unless there is some income from those people.

Hopefully you could run self-managed DMP with less scrutiny but high food costs and £500 to support an 'adult' child's activities could cause issues with debt providers. If they get arsey and go for CCJ's you might have to provide supporting evidence.
 

sourcrates

Bottom line is your budget is your budget, no one has cause to query anything on it unless you are in a regulated  insolvency solution, which you are not.

Creditors have no recourse to question anything you spend money on, which is why its always best to never share your budget with any creditor, thus avoiding the issue entirely.

Tryingtofly11

Thank you, all. Good to know. I will post again and ask for advice with next steps when we get there. Thanks so much again.

SPM87

RAS said:

If they get arsey and go for CCJ's you might have to provide supporting evidence.
 

this is scaremongering... this simply don't really happen in most cases. How many CCJs are even "enforced" if you have a house they will go for some kind of Charging Order and let it sit there.

Got a friend with 2 CCJs and ignored everything.. the CCJs have not been enforced after 3 years so far.. what they waiting for? even in the event of an attachment of earning you can reject it, fil out the court form manually and the judge signs off what he thinks is reasonable based on the numbers you provide

bazdvd

they dont happen in most cases yet your friend has 2?

fatbelly

Rule of thumb is about 1 in 10 debts see court action. 

Friend probably had 20 debts

SPM87

fatbelly said:

Rule of thumb is about 1 in 10 debts see court action. 

Friend probably had 20 debts

he has about 5... and I am talking about CCJ enforcement, with the view being "made" to provide supporting evidence?

Too many people seem to be dishing out comments based on not really knowing what really goes on. Like I said my friend has 2 CCJs on his file and not one has "enforced" them after 3 years he ignored it (which is silly) but despite his silly behaviour of ignoring court forms the DCA has not enforced either of. 

fatbelly

A creditor has six years to enforce a ccj