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huntersrishon
Junior Member
189 Posts |
 Posted - 19 October 2008 : 09:30:22
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Hi
I have almost finalised our SOA just got cash in hand to put in on Thursday morning - going BR 11.30am Thursday. We are paying out 70 more then we have coming in but when we move to rental we will have about 100 disposable income between us.
My question - I really need to learn to get to the point 
We are moving out mid December and will not be paying Nov 1st and Dec 1st Mortgage - can we use this money for the first months rent we need to pay and for the removal van etc for moving???
If anyone knows the answer to this question it would be much appreciated.
Thanks in advance.
Dee 
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got there
Junior Member
United Kingdom
461 Posts |
Posted - 19 October 2008 : 09:36:06
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Hi Dee
Could you try and get your disposable under £100 in preparation for when you move thus avoiding an IPA??
I am planning to save money for deposit and 1st months rent (from not paying mortgage).
PS: My Deficit currently is £492.00 when I move it will be even but that would include CB with no DI.
Hope you are well x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 09:40:21
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Hi Dee
The OR will have no problem in you using that money for your rented place so that is not really an issue.
They understand that if you are in a mortgaged home then you may want to have to go into rented and the money has to come from somewhere.
Just be honest if asked what you did with the money, but i would say that will be fine:-)
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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huntersrishon
Junior Member
189 Posts |
Posted - 19 October 2008 : 09:41:54
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Hi Gettingthere
When we move the 100 DI will be between us both and I think you have to have 100 each when going BR as a couple so I think we will be OK. I am just worried about getting the rent together and the removal van if the OR says you are not paying the mortgage for so I want that money from you.
Hope you are well too GT
Dee |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 09:46:39
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Hi Dee
As i have said it will be fine, use the money saved from the mortgage and other creditors to pay for your rental and van etc and also make sure you keep some aside for your fees. :-)
Just explain this to the OR that this is what you have done with the monies you need them to move etc.
LOL
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
Edited by - Needafriend on 19 October 2008 09:48:09 |
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huntersrishon
Junior Member
189 Posts |
Posted - 19 October 2008 : 09:51:04
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Hi Jo
Thanks for that - I have been stressing about where we are going to get the money from for the 1st months rent and the removal.
Dee |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 09:56:16
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Your welcome
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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BankruptC
Senior Member
1030 Posts |
Posted - 19 October 2008 : 10:31:14
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Hi Dee,
Just wanted to mention something we found out when we were doing our SOA. We phoned the OR's office and asked them how it works with couples with the SOA and DI. They said that it depends. They actually used the example that if we had £100 DI between us, they could put it together and do it all as joint income and outgoings, meaning they could give you an IPA and take the £50.
Just wanted to mention it really. I do think, as you're on the cusp of an IPA between you, that you should try to get it down if you can.
If you put your I&E up, I'd be happy to try to help you. :-)
C. x |
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huntersrishon
Junior Member
189 Posts |
Posted - 19 October 2008 : 12:40:58
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Hi
Thanks for that c - the thing is we are over by about 70 pounds now but like I say when we are in rental we will be up by about 95 pounds. Do you think we should put a moderate holiday or something on of around 15 pounds to bring us over our current income even more?? Then when we go in to rented we will end up with about 80 a month left between us.
Also OH has just started a job and I have put down his basic - it seems he may get regular overtime of about 140 per month but at this time we do not know for sure. But this will be between us.
Dee |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 13:10:48
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Hi Dee
Do you get CB as if you do they cant count this in so that would help you.
You have to include on your SOA but they are not allowed to count it in as proper income as its for the children.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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huntersrishon
Junior Member
189 Posts |
Posted - 19 October 2008 : 14:03:01
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Hi Jo
No CB as our daughter is 19. She does live at home and is at uni training to be a childrens nurse.
Dee |
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BankruptC
Senior Member
1030 Posts |
Posted - 19 October 2008 : 14:11:23
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Hi Dee,
I'd try to get your DI as low as you can, as you are so close to the £100, even at £80, bearing in mind the OR may well disallow or reduce some of your expenses.
:-)
C. x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 19 October 2008 : 18:34:22
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Hi Dee
I was training to be a Nurse, left the course in May due to the pressure of the debts etc, would have been in my 2nd year now, i am gutted as i passed my first year, but i cant get a cert as i had one more load of placements to do. If i go for it again i will have to start from fresh.
PS I know that was not BR related.:-)
LOL
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Topic |
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BR and Mortgage Money
