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| T O P I C R E V I E W |
| Trolly-Dolly |
Posted - 15 July 2008 : 09:37:13
hello,
almost there with the forms, doing them online now, much easier.
2 q's.
1. Both hubby and I are filing. On my SOA it only asks for my salary, so what should I do about expenditure? Do I include the family outgoings (whole mortgage payment, food etc for 2 children, insurances for both) or do I just split this 50/50?
2. Section 5.2 asks about banks and cards. Do I put down the bank accounts that I dont owe money too? I've already listed the cards that I owe money on, on my list of creditors, so do they want this info again?
Many thanks
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| 6 L A T E S T R E P L I E S (Newest First) |
| Trolly-Dolly |
Posted - 15 July 2008 : 15:04:46
We have 2 children (aged 3 years and 7 months) and my step-daughter who is 22 lives with us.
I kept them in as I was worried about the OR trimming things down in other areas and then us being just on the cusp of £100 DI and not being able to afford this in reality. I think I will take out sports/hobbies and trim the holiday budget down, dont want to be seen as taking the p***, want to get on the good side of the OR, hey we may even be friends!
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| Ian Richards |
Posted - 15 July 2008 : 11:16:16
DM
Why don’t you take out the hobbies and sports as that will help bring the amount down a little? The OR will probably wonder how you are going to survive on such a big minus every month, so i think its worth trimming down somewhat. How many children do you have? |
| pix1 |
Posted - 15 July 2008 : 11:07:16
You will be less likely to get an Income Payments Order if you are -£200 per month on your income and expenditure. Oddly, it is not so suprising when people have a shortfall figure as if their finances were strong they probably would not be going bankrupt anyway... |
| melanie_giles |
Posted - 15 July 2008 : 11:03:15
The OR may be keen to know how you are funding that shortfall - which I suspect is by making strict economies within your housekeeping and other expenditure. Make sure that you make it clear that this can only be done on a temporary basis, and that your expenditure will have to increase when you get back to work.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| Trolly-Dolly |
Posted - 15 July 2008 : 10:51:06
Thanks Ian,
Just wasnt sure as with my paltry salary, the outgoings are far greater than the Income.
Just going through I&E jointly and have discovered that we are -£200 every month!!!! What will the OR make of that? We have used IVA figures (£520 food etc) which I believe to be higher than BR ones, and we have also put things down like hobbies, sports etc, which may not be allowed. So I guess some tweaking may be in order.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| Ian Richards |
Posted - 15 July 2008 : 09:55:39
Hi DM
1) As you are both filing you need to put the total cost of your outgoings as one, not spilt.
2) Yes unfortunately you have to list them twice.
You also have to list any cards and accounts that you don’t owe money to as well.
Ian
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