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|
How much will I have to pay?
Creditors
expect you to pay as much as you can reasonably afford; they want the
arrangement to succeed, so they need to be reasonable otherwise the arrangement
will be guaranteed to fail.
A monthly
income and expenditure account will have to be prepared showing how
much income the household receives, including other income like child
benefit, tax credits, pensions, etc. and all your normal household expenditure
listed.
The income and expenditure
will look something like this:-
Income
|
£ |
£ |
| Your take home pay (inc. overtime) |
1,400 |
|
| Your partner's take home pay |
850 |
|
| Other income (Benefits, pension, maintenance etc)
|
50 |
|
| |
|
|
| Total household income |
|
2,300 |
| |
|
|
| Expenditure |
|
|
| Mortgage/rent |
500 |
|
| Mortgage endowment |
80 |
|
| Council tax |
80 |
|
| Water/Gas/Oil/Electricity/Phone/mobile |
100 |
|
| Food and other household |
300 |
|
| Car expenses |
100 |
|
| Car finance |
100 |
|
| Public transport |
20 |
|
| Clothing |
100 |
|
| Smoking |
100 |
|
| Maintenance/CSA payments |
100 |
|
| TV Licence/rental |
20 |
|
| Insurances (Home, life, health) |
40 |
|
| Pension contributions |
40 |
|
| Other |
- |
- |
| Gifts, Christmas, contingency |
50 |
|
| |
|
|
| Total household expenditure |
|
1,730 |
| |
|
|
| Net surplus of income over expenditure |
|
570 |
The above
is only an example and your figures will have to be supported by 6 month’s
payslips and 6 month’s household bills.
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