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jayne h
Junior Member
218 Posts |
 Posted - 16 March 2009 : 17:06:05
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Hi Melanie,
I went BR in October last year thanks to some very invaluable advice from you around June/July time (not on here but via e-mail and phone).
My husband and I were at our very lowest with the hugest black clouds hanging over us. You looked into BR for my husband and an IVA for me but it wasn't viable financially and therefore, your practical, sound, advice was for both of us to go BR.
Here were are now 5 months down the line and at the weekend I received the Early Discharge letter asking me to fill in my I&E in order that I may be considered for ED. I was delighted.
So - firstly a massive thanks to you for that sound, practical, down to earth advice. It was exactly what I needed after trying to explore every other avenue as an avoidance to going BR. You were so calm and told me that we would come out of it and it would be the best thing we had done - and, so far, you are right! We are certainly not proud of having had to do it, however, for us it really was the only option.
I now have a couple of questions regarding the I&E so would appreciate some feedback as I need to send it off by tomorrow at the latest.
1. We changed our mortgage payments to interest only. Now the rates have gone down it has halved from £878 to £408. Would it be frowned upon if we changed back to a repayment mortgage or shall we leave it as it is for the time being.
2. Can you look at my "additional expenses" for my I&E and let me know if I am claming enough/too much please. There are 3 of us - me, my husband 5 year old daughter:-
Union fees (husband) £13.00
AA breakdown cover £14.00
UK break (holiday) £40.00
xmas/bday £30.00
hairdresser £20.00
dentist/opticians £15.00
School dinners £20.00
Car maintenance £35.00
Car tax £33.00
Car insurance £65.00
I have just listed my additioanl expenses here - everything else, ie gas, electric I don't have a problem with.
Your advice would be gratefully received.
Jayne x
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 16 March 2009 : 17:58:15
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Hi there, i would change the mortgage back to repayment asit is far better for you to be reducing your mortgage than just interest only. Nothing looks particularly untoward from an income & exp persepective.
Glad you made the decision to file, and i hope that i/we were of support to you. Good luck with everything and if you need any help you know where i am. Melanie
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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Thanks to Melanie and IE advice from anyone!
