Financial checks

[DonnyGirl]

Hello,
We are at the start of our adoption journey. We have had our initial SW visit and completed our training days but we are still waiting to be assigned our SW.
I understand that checks need to be carried out as part of the process, the thing that is worrying me are the financial checks. We were told that financial checks would be undertaken but no more that that. Does anyone know what checks are made and if these checks could stop us from being able to adopt.

Thanks.

[KenHomsDadsWoksDead]

I think they will only be concerned if you have a lot of debt. We had to produce proof of mortgage payments, bank accounts, savings accounts, payslips etc. There's a sheet to fill out where you itemise incoming and outgoings, and they'll decide if the surplus you have at the end of each month will be enough to compensate for the added expense of bringing up a child, bearing in mind you might be on a reduced income for a year or so.

If it's something you're worried about, just have a word with your SW at the start of your visits.

[funnychic]

As KenHoms said they will ask you to fill in an expenditure form with all incoming and outgoings, and will ask for proof all savings, debt etc. Providing your are not massively in debt and are making strives to pay some off you should be ok. Obviously they will want to make sure you can actually afford all the necessary immediate stuff you need to buy and the ongoing expense a child can make.
Best wishes

[Devora]

I found that bit somewhat embarrassing, as I am a bit chaotic financially. However, by chaotic I mean running into (planned) overdraft at the end of every month, not massive debt and baliffs, and I think that is what they need to know - ie. are you likely to get your house repossessed or be declared bankrupt?

I think they just asked us if everything was ok and we showed them a bank statement. We may not even have showed the bank statement.

[DonnyGirl]

Thanks everyone, that makes me feel a bit less nervous about the whole thing.

[HappySunflower]

My LA asked for:
3 months worth of bank statements
Proof of savings
Mortgage statement/tenancy agreement
Name and address for employer reference to confirm salary/employment details