VIEWS: 2 PAGES: 1 POSTED ON: 6/14/2012
FINANCIAL STATEMENT UPDATE FORM Income (please indicate frequency) £ Expenditure (please indicate £ frequency) CLIENT NET WAGE RENT/MORTGAGE PARTNER NET WAGE SECURED LOANS (HOMEOWNERS ONLY) INCOME SUPPORT (after deductions) COUNCIL TAX CHILD BENEFIT LIFE INSURANCE JOBSEEKERS ALLOWANCE CONTENTS INSURANCE WORKING TAX CREDIT BUILDINGS INSURANCE CHILD TAX CREDIT ENDOWMENT INSURANCE PENSION CREDITS OTHER INSURANCE STATE PENSION GAS OCCUPATIONAL PENSION ELECTRICITY INCAPACITY / EMPLOYMENT SUPPORT HOUSEKEEPING STATUTORY SICK PAY SCHOOL MEALS DLA (MOBILITY COMPONENT) T V RENTAL / LICENCE DLA (CARE COMPONENT) / AA TELEPHONE (LANDLINE) MAINTENANCE TELEPHONE (MOBILE) BOARD FROM LODGER/CHILDREN CAR TAX/INS/MOT STUDENT LOAN/BURSARY PETROL OTHER (DETAIL) OTHER TRAVEL COSTS OTHER (DETAIL) CLOTHING OTHER (DETAIL) CAR PAYMENTS OTHER (DETAIL) CHILD SUPPORT OTHER (DETAIL) CHILDMINDER OTHER (DETAIL) FINES HIRE PURCHASE OTHER (DETAIL) TOTALS AVAILABLE INCOME When totalling your income and expenditure make sure you are adding them all in the same period (weekly, monthly etc) or the figures will be wrong. If you have Available Income, you should be able to split this amongst your creditors and make offers, even if it’s not at the amount you should be paying them. To work out the pro rata payments for each creditor (divide the available income by the total debt figure, multiply this by 1000; this will give you the % figure which you then use to determine the payment to each creditor; eg creditor balance x percentage = payment offer) If you have no Available Income then you need to make changes to your current living costs (eg can you cut down on your satellite package/mobile phone etc). If you still don’t have any Available Income and you have creditors to pay as well as the ongoing bills above, then you need to look at the options available in our Options Section and seek the help of the money advice team.
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