Hi Peter123,

You actually receive quite a lot of categories for your expenditure. This is broken down into 5 main categories:

Essential Expenditure:

This covers things like rent, council tax, utilities, insurances, tv licence, car finance, childcare costs / child maintenance etc.

Food / Housekeeping:

This covers food, shopping, smoking, alcohol, clothing, baby items/nappies etc.

Mobile/Home Phone:

As it states mobiles and home phone.

Travel:

Public transport costs, car fuel, car insurance, car tax, car maintenance, breakdown cover etc.

Other:

Home maintenance, health, haircuts, sky/virgin, school/work meals, hobbies, kids clubs, Christmas/Birthdays, pets etc.

A good experienced and knowledgeable expert should work through a very thorough budget with you to see what you can afford to pay per month. Any payment needs to be affordable but also importantly sustainable over the next couple of years.

How much debt do you have and have you reached out to some for advice and help yet? I think it’s always useful to speak with a couple of advisors from difference companies as things can vary slightly from firm to firm.

Also do you have any assets i.e. a house or a car?

Hi Peter, I have a template, If you want me to send it to you ?

Peter could you send it to me as well.

The figures that are used to assess whether someone's expenditure allowances are reasonable aren't available to the public.

Many working within the advice sector believe this to be an unfair situation, but they agree not to share them as part of being given access to them.

Sufficient allowances should be given to enable people to live reasonably during the trust deed. There's no point in pretending that these allowances are particularly generous; personal spending will be restricted during a trust deed to ensure that creditors receive a fair return.

This is the trade-off I suppose. Live on a workable but restricted budget for four years and, in return, potentially get a large amount of debt written off at the end of it.

quote:

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Originally posted by Welcome14
[br]Hi Peter, I have a template, If you want me to send it to you ?

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Yes please

Hi Welcome14.

Does your template provide guidance on acceptable expenditure figures?

Hi all. Thank you for your help so far.
In regards to main bills like rent, gas, electric etc, these are all in my wifes name. Do u need any proof from her in regards to how much her mortgage payments are and rent and gas payments. My wife is aware of trust deed application but has stressed to me that she wants little involvement as possible. Thanks in advance

Hi Peter123.

Do you give money to your wife to cover your share of these bills?

Hi Peter123,

How do you work your budget and household bills with your wife?

It’s common for one person to pay most of the bills and the other person transfer a set amount each month over. If it’s something like that then it’s fine as on your bank statements you can see an amount for bills.

A good expert advisor will be able to keep you right with all of that and find a way which works for you and your wife so she has little involvement.

As long as whatever arrangement you have is fair then it is fine just to prove your own contribution to the household bills. I think a Trustee would be likely to want a reasonable justification as to how how you arrive at the figure though, especially if it seems particularly high.