New here and considering DMP without my husband knowing

Emmia

curlu said:

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

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

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

Number of cars owned.................... 2[b]

Monthly Income Details[/b]

Monthly income after tax................ 3600

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

Benefits................................ 0

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

Total monthly income.................... 3600[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 0

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

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

Management charge (leasehold property).. 0

Council tax............................. 298

Electricity............................. 350

Gas..................................... 0

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

Water rates............................. 0

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

Mobile phone............................ 10

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

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

Internet Services....................... 0

Groceries etc. ......................... 200

Clothing................................ 20

Petrol/diesel........................... 60

Road tax................................ 35

Car Insurance........................... 50

Car maintenance (including MOT)......... 10

Car parking............................. 80

Other travel............................ 73

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

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 130

Pet insurance/vet bills................. 70

Buildings insurance..................... 0

Contents insurance...................... 0

Life assurance ......................... 10

Other insurance......................... 130

Presents (birthday, christmas etc)...... 60

Haircuts................................ 45

Entertainment........................... 0

Holiday................................. 0
Tax bill  300

Emergency fund.......................... 0[b]

Total monthly expenses.................. 1646[/b]

[b]

Assets[/b]

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

House value (Gross)..................... 0

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

Car(s).................................. 3000

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

Total Assets............................ 4000[/b]

[b]

No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]

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

Santander loan.................22255.....708.4.....25.9

Cherry Godfrey loan............15000.....463.......6.75

Tesco CC.......................4998.54...251.......0

Loan from family...............50000.....500.......0

MBNA CC........................7104.87...222.3.....29.94

Virgin CC......................4062.1....130.8.....26.49

NatWest CC.....................9810.5....116.8.....29.9

Barclaycard CC.................6279.79...91.57.....0[b]

I don’t pay anything towards rent as our house is paid off but it’s not an asset I can use as equity as it’s in joint names
my car is 11 years old, cheap to run and has no finance
we only have electricity as energy
utilities not covered are paid by husband
 

If my sums are correct you owe almost £120k - how has the debt developed?  Over what period?

Can you actually afford to repay this amount of money as a DMP requires you to do that... I really think you need to tell your husband.

curlu

EssexHebridean said:

I've not had time to do more than skim the SOA but the thing that literally leapt out at me was that £350 for Electricity - that is a crazy amount! 

Have you checked that you are being billed on actual, correct meter readings? This even applies if you have a smart meter - you need to be sure that it is communicating and doing so correctly. 

Have you checked you are on the correct tariff - ie NOT the standard price-cap standard one, but a fix with competitive pricing.

If both of the above are correct then the next thing is going to be to establish why you are using so much energy. Unless you are living in a mansion, it seems fairly sure that things are wrong somewhere though! 

No it’s correct, we live in a converted chapel property with EPC rated F, we have spent £15k this year upgrading and draft proofing, so it should come down but that is what we currently have to pay to stay in the black.

curlu

ManyWays said:

Cherry Godfrey - are you mainland UK based? was this a business or personal loan?

Loan from family. - are you going to carry on paying this? 

We are now, we lived in Guernsey for 3 years but they also have a Branch on the Isle of Wight which is FCA regulated. It was a personal loan of £25k originally and I’ve made 48 payments.
yes I hope to carry on and have included it in my particulars sent to Stepchange 

curlu

RAS said:

Electricity, medical and other insurance are high, if you are UK based?

We often suggest that people write telling creditors only to write. In this case, changing the details of your email and phone to burners might be a good idea? 

You will need to open all physical mail as any legal notice has to be sent by mail and some requires response in 14 days.

I'd also suggest that in addition to the emergency fund, you have another account into which you put money towards a replacement car, if it's vital to income. Then you can choose to replace rather than make a panicked decision.

I think I duplicated the health insurance, so it’s only £130

Emmia

I've reported the AI generated cr*p above 

kimwp

Is £50,000 from family correct?

curlu

kimwp said:

Is £50,000 from family correct?

Yes, everything correct but obviously family debt won’t be included in DMP but Stepchange have taken this repayment into account with my budget.

kimwp

curlu said:

kimwp said:

Is £50,000 from family correct?

Yes, everything correct but obviously family debt won’t be included in DMP but Stepchange have taken this repayment into account with my budget.

Thank you for confirming.