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  • #1

    Question re income

    Just thinking out loud here but brief history ...

    Me and OH started out on a DMP with CCCS, his income varies from month to month so when we started out with CCCS they were happy to accept that, fast forward to the review and because he'd had a few good months wages they set our payment too high for when the not so good months followed. So we cancelled DMP and sent CCA requests to everyone.

    If and when we sort a DMP for those debts that are enforceable, I'd like to self manage it, so what counts as income for the DMP?

    In our case OH's basic wage is around half of what he actually earns (due to overtime). So what would go down on budget sheets to prevent us being in the same situation as we found ourselves in with CCCS?

    Hope this makes sense
    Tags: advice, budget, cancelled, cca, debt, debts, dmp, figures, financial, help, income, money, niddy, overtime, pay off debt, rate, review, salary, training, wages, weekend
  • #2
    Re: Question re income

    Have a read here

    ---> Financial Hardship - Trigger Figures

    Don't worry about dmp yet. Let's sort the ue stuff first
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    • #3
      Re: Question re income

      Originally posted by jaci View Post
      Just thinking out loud here but brief history ...

      Me and OH started out on a DMP with CCCS, his income varies from month to month so when we started out with CCCS they were happy to accept that, fast forward to the review and because he'd had a few good months wages they set our payment too high for when the not so good months followed. So we cancelled DMP and sent CCA requests to everyone.

      If and when we sort a DMP for those debts that are enforceable, I'd like to self manage it, so what counts as income for the DMP?

      In our case OH's basic wage is around half of what he actually earns (due to overtime). So what would go down on budget sheets to prevent us being in the same situation as we found ourselves in with CCCS?

      Hope this makes sense
      Hi Jaci

      As NID says look at the UE stuff first.

      Regards what you put down as your salary, I am in a similar situation to your IH when it comes to O/T. However O/T is not guaranteed.

      Consequently only your base salary should be used as the basis for DMP calculations.

      Any money you then build up from O/T can then be used to pay off debt but do it at a pro-rata rate.

      Personally I would also put a bit of the O/T money aside so you have a bit of a buffer should the O/T dry up or for emergencies.

      Best
      SnV
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


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      • #4
        Re: Question re income

        Hi,

        Definitely follow Niddy's advice and explore the UE route. Whatever is left can be put on a self managed DMP quite easily - we can give you vast amounts of help with that, so don't worry about it. In answer to your question about IE forms though, CCCS were being a bit naughty. All the training for the Common Financial Statement states you do not put down overtime, you only put down guaranteed income. If this happens to be about half what he actually earns, fair enough, that's what you put down.

        The last thing you ever want in a DMP is to agree an amount that you can't then guarantee to stick to.

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        • #5
          Re: Question re income

          Thanks for the advice, don't seem to be at the DMP stage yet, but will be back when I am!

          Thing is if we had have probably worked just on his 'guaranteed income' we probably wouldn't even have had enough for a DMP, so when I'm done with the UE stuff what happens if there isn't enough guaranteed income for a DMP????

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          • #6
            Re: Question re income

            we'll worry about that when the time comes, if you are self-managing, its you that decides the levels..................

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            • #7
              Re: Question re income

              Thanks, probably just worrying too much as per usual

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              • #8
                Re: Question re income

                everybody does at first, just forget all about it, its the weekend and remember its only money..........lots of stuff more important

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