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Filling out an expenditure form help(2 Posts)
Due to a drastic change in circumstances, we are now struggling to repay a loan. When dh took it out, it was in his name but he was also asked to enter any other income in the household so he gave my details.
He's been sent an expenditure form to fill in , should he be putting just his details down (as in say our rent is £600, that he is responsible for £300 of that) or should we put all incoming and outgoings, even if the loan is in his name?
It doesn't ask for things like water/gas/electric/council tax - just rent, tv license, housekeeping/transport/pets/education/alcohol and tabacoo. Should we add the water etc onto the list?
Tricky.Been through this myself and know how these people work so here are my tips. I think they're asking about tobacco, alcohol and pets so that if you put ANYTHING in that category they will say you don't need those and that money can be allocated to the loan so be careful there. Likewise Sky and phone contracts - they will tell you pay as you go is cheaper.. I would probably put all that into housekeeping. I would put only essential bills including your utilities, council tax, TV licence, insurances etc. and your transport costs-don't forget prescriptions,dentist, glasses and essential hairdressing costs. [A cut every couple of months but not colour etc as that is not essential.] In my experience they won't allow for presents but will allow a reasonable amount for shoes and clothing.
I would work it out both as a couple and also your partner alone and see which way gives you the best advantage.Good luck and try not to worry-they can't take the pants off a bare backside as the saying goes.