DRO and the dreaded budget planner
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Hello. So my situation is as follows...
My husband and I both work part time to share the childcare so our outgoings there are 0. But we both have debts, not built up through a lavish life style or anything, OH car that he bought in 2012 on a loan, and he got into pay day loans spiral (which was before we met) and I have a few credit cards, next account, small dfs and some other bits mine comes to roughly £18,000.
Sorry I am waffling. So, after trying to pay people and never having any left over money for school uniform ect We both stopped paying in December ish (except my small dfs that I completely forgot about and first missed payment was last month- no preference intended). Credit history is shot- do not mind, we have defaults but then do not want any new credit just to clear this mess.
We rent our 2 bed house, (would move to 3 bed as bit cramped but funds do not allow)
Only assest is my car £895 11 year old trusty 107!
£300 roughly saved but mot and service is due in August and professional fee £120 due September.
So my SOA is as follows...
2 adults
2 children
My income- £1400 ish
Husbands contributions £300
Child benefit £137
Tax credits £31
Outgoings:
652 rent
70 water
95 council tax
85 energy
12 tv license
29 internet
50 phone
5 life ins
10 contents
15 sky
10 dentist
25 car ins
2 tax
15 car maintenance
150 petrol
450 food and toiletries
30 rcm and nmc fee
40 gym for 2 girls
50 clothes
10 Haircut
Incoming £1868
Outgoings £1805
Available for debt repayments: £63
Apologies for not using the other calculator I found it wouldn’t transfer into the forum from my mobile.
Points to note- husbands contributions are half of his wages because he pays his own; petrol, phone, car insurance ect which totals roughly £250 leaving him £50 spare for nights out ect.
I’m so close to the £50 income surplus and I never have that amount left over realistically but I do not know what else I am ‘allowed’ to add. For instance my girls birthday presents, I have a gym membership as it is my only form of getting out and doing something and also I get free swimming for my youngest with it which is £30 PM but I doubt this would be an allowable expense?
Can anyone advice what else I can realistically include that I haven’t noted. Many thanks for your help!
My husband and I both work part time to share the childcare so our outgoings there are 0. But we both have debts, not built up through a lavish life style or anything, OH car that he bought in 2012 on a loan, and he got into pay day loans spiral (which was before we met) and I have a few credit cards, next account, small dfs and some other bits mine comes to roughly £18,000.
Sorry I am waffling. So, after trying to pay people and never having any left over money for school uniform ect We both stopped paying in December ish (except my small dfs that I completely forgot about and first missed payment was last month- no preference intended). Credit history is shot- do not mind, we have defaults but then do not want any new credit just to clear this mess.
We rent our 2 bed house, (would move to 3 bed as bit cramped but funds do not allow)
Only assest is my car £895 11 year old trusty 107!
£300 roughly saved but mot and service is due in August and professional fee £120 due September.
So my SOA is as follows...
2 adults
2 children
My income- £1400 ish
Husbands contributions £300
Child benefit £137
Tax credits £31
Outgoings:
652 rent
70 water
95 council tax
85 energy
12 tv license
29 internet
50 phone
5 life ins
10 contents
15 sky
10 dentist
25 car ins
2 tax
15 car maintenance
150 petrol
450 food and toiletries
30 rcm and nmc fee
40 gym for 2 girls
50 clothes
10 Haircut
Incoming £1868
Outgoings £1805
Available for debt repayments: £63
Apologies for not using the other calculator I found it wouldn’t transfer into the forum from my mobile.
Points to note- husbands contributions are half of his wages because he pays his own; petrol, phone, car insurance ect which totals roughly £250 leaving him £50 spare for nights out ect.
I’m so close to the £50 income surplus and I never have that amount left over realistically but I do not know what else I am ‘allowed’ to add. For instance my girls birthday presents, I have a gym membership as it is my only form of getting out and doing something and also I get free swimming for my youngest with it which is £30 PM but I doubt this would be an allowable expense?
Can anyone advice what else I can realistically include that I haven’t noted. Many thanks for your help!
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Comments
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Just to add also.. my husband is going to go back full time in a year or so, our youngest daughter is only 2 and I have really bad anxiety about leaving her with anyone else (my mum is the only other person to have looked after her for an hour once haha)
So when she gets her 30 hours funding and she’s about 3.5 I’ll feel better about her going to childcare for a few days a week. Eldest is 8 and cried every day of childcare until she was around 3.
Husband doesn’t want to do a DRO himself, he has a car that’s worth 2k that is his baby and he won’t part with. Also he’s in the process of going to the FOS with two pay day loan companies so if successful those debts will reduce. We don’t have any shared debt except a tax credit overpayment which I know will transfer solely to his responsibility but if his income is going to increased by around £600 in the next few years then we’ll just start paying it off and his other debts then. At least we’ll be £14,000 better off debt wise.0 -
You need to get linked in to an intermediary and let them look at the numbers. It's fine that you do your DROs staggered. His car may not be worth as much as he thinks - he should value it on Parkers guide - private poor figure is OK
His money is not your income though he would be expected to take a proportionate share of the expenses.
Some of those items would not be allowed (sky, life ins, gym) but I would be OK with a small allowance for gifts and a bit more for clothing.0 -
Ok thanks for your reply. The gym £40 that I’ve listed is the amount I pay for the girls activity. So I wouldn’t be allowed this either? So just an allowance for clothing and feeding them and maybe a small gift?
I am in contact with step change they are sending me the DRO pack in the post.0 -
Could somebody please post again the updated maximum allowances for all the outgoings, hair, pets ect ectNothing has been fixed since 2008, it was just pushed into the future0
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Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
Hello, more help needed if possible !!!128555; Tax credits have said Over the phone last year overpayment is 4K! I don’t think this is right as it’s pretty much my whole award. However, if it is, it takes me £1118 over the 20 k DRO limit. Could I possibly make pro rata payments to all my creditors to get myself below this threshold? Or is it looking like bankrputcy or nothing?0
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