Preparing Income & Expenditure Summary !!

[citizenB]

I am preparing an income and expenditure summary to send out to creditors. Do I have enclose a list of indivdual creditors and the balances outstanding. Or can I just lump them all together and put a total 'Unsecured Debt' figure.

 

I dont particularly want for the likes of Capital one and LTSB to see that there are 2 accounts for each company... one for OH and one for me. Especially as both the Lloyds accounts are in dispute and only one of the Capital one accounts is actually receiving a monthly payment whilst the other one is still waiting for the agreement to be received. Many thanks x

[jonni2bad]

There is no reason why you should have to name the creditors on that, just put Company A, B etc

 

Have you obtained any help with the figures you are 'permitted' to include, such as weekly shopping etc?

[ananya]

My personal opinion is to bunch them together, I've just done the same for Cap 1 for hubby as I don't want them to know who we are paying and then try and dictate who gets what. I didn't list any of the creditors, just a description like 'catalogue' or 'loan'.

 

Also, I've just received my SAR info from a previous mortgage company and they included a printout from their system detailing all actions taken on our account, including when we sent an I&E form in ad they had noted on our account what we were paying and that some creditors can be reduced, cheeky

[citizenB]

There is no reason why you should have to name the creditors on that, just put Company A, B etc

 

Have you obtained any help with the figures you are 'permitted' to include, such as weekly shopping etc?

 

Thanks for replying. jonni2bad. Last year CCCS prepared a budget for us. However because I wanted to sort out PPI problems and CCAs, I am managing the payments myself.

 

So I have just used the figures they gave last time. Where there have been increases I can prove if necessary ie.. oil, council tax, electricity and petrol I have increased those figures. The budget for food etc, I have more or less left the same, I will just have to try and keep the weekly shop within that. Everything apart from our income has gone up

 

I am using the same forumala for prorata monthly payments as CCCS used.

 

ananya, that is a bit cheeky. No wonder the creditors want us to telephone them, to put pressure to prioritise THEIR debt

[stardust_john]

Hi, Ananya/citizenb. Reminds me of the time cab sent I and E form to accounts on my behalf and the creditor sent snotty letter to cab stating I should allow less for baby clothes and give them more!!! The form only allowed small ammounts for kids, the usual etc and I think they were peed off at cab. I wasnt supposed to see the letter I believe, but when office closed down they offered me the file for reference and it showed some bickering from dca to cab. Cab said its was normal and they just ignore it. Thank goodness for them at the time, because they took the pressure off. Any way good luck and make sure you allow enough for you for food, dont forget how much that has increased too.

[citizenB]

Stardust, they have already written saying that our expenditure is outside of THEIR guidelines.. Tough really, the only place I can really save money is on the weekly shop and I cant get it any less than it is already.

[jonni2bad]

I recall one of the free debt advice agencies offering me advice about the levels for food etc etc and they were well in advance of any figures given "as advice" by DCAs.

 

I will see if I can find the links for them...

 

I too received the I&E from CCCS, so I just created a new one myself and dealt with creditors myself also. Have done ever since actually.

[citizenB]

I recall one of the free debt advice agencies offering me advice about the levels for food etc etc and they were well in advance of any figures given "as advice" by DCAs.

 

I will see if I can find the links for them...

 

I too received the I&E from CCCS, so I just created a new one myself and dealt with creditors myself also. Have done ever since actually.

 

I would really appreciate that, thank you x

[jonni2bad]

As you can see from this link - the grocery provision (per week) for 2 adults is £70, single adult £40, and £25 per child

 

The British Banking Association issued guidance for 'trigger' levels some time ago, the link HERE is old, but shows how, if you are within the trigger levels they advise, there will be no 'questioning' of your budget, but claim more and they are asked to challenge you. They took their figures from the Office of National Statistics, who produce a yearly report on levels of typical expenditure.

 

A sample of this, from 1999/2000, is HERE

 

It shows that a one parent family with (average) 1.8 children was spending between £37 and £65 per week on food and non-alcoholic drinks.

 

Average expenditure per person was between £54 and £163 (this is the "everything" figure")

 

Anyway, this all means that each DCA may well have its own trigger levels for each item of expenditure. I recall a telephone conversation with oneof mine, where the agent told me I couldn't claim for any form of excercise expenditure, but I could claim for cigs! Amazing...

[citizenB]

Thanks for those links Jonni2bad, they will be helpful x

 

Yes, when I was going through the figures last year with CCCS, I was told I could smoke 20 cigarettes a day (except I dont smoke) but I couldnt go swimming 3 days a week which is the only real form of exercise I can do due to a spinal injury !!.. Mad or what

[ananya]

Very useful information Jonni2bad, thank you.