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  • fermi wrote: »
    Thanks. :)

    I need to put some basic info on there, even if it can't go into great detail yet.

    BTW, the NI Insolvency Service site is HERE

    Link doesn't work.
  • We all die. The goal isn't to live forever, the goal is to create something that will
  • hi, ive been reading this forum on and off for some time now and really had my mind put at ease.. definately going to go bankrupt

    do i have to stand up in front of loads of people in court, i do not have any assets

    what exactly happens in the first year, do i just pay priority bills as normal or does the or do it,,what happens to wages or benefits

    i have a company car,,will that have to go

    will i need to close my bank even though i have no debt with them and only have visa electron card with no cheque book or over draft

    myself and hubby are going bankrupt but do we have to do it all seperate and have seperate meetings

    many thanks in advance for any info offered
  • fermi
    fermi Posts: 40,542 Forumite
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    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

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  • Hi and welcome to the board.
    slackmamf wrote: »
    hi, ive been reading this forum on and off for some time now and really had my mind put at ease.. definately going to go bankrupt Have you spoken to any of the debt charities in my sig? If not then this really is your first priority. Your BR could be refused if you don't.

    do i have to stand up in front of loads of people in court, i do not have any assets No. You go to court, you see a clerk who deals with everything, you may or may not see a judge, if you do it will be in an office with him sat at a desk in a suit. They are for the most part human and understanding about the situation.

    what exactly happens in the first year, do i just pay priority bills as normal or does the or do it,,what happens to wages or benefits The OR has no control over your finances after your BR. You produce an SoA which shows him that you can survive after BR and can pay the essential bills and he will leave you to it. If you have a surplus then this will be paid to the OR's representative. Your wages and benefits get paid to you as normal.

    i have a company car,,will that have to go The car doesn't belong to you it belongs to the company so you will be able to carry on using it.

    will i need to close my bank even though i have no debt with them and only have visa electron card with no cheque book or over draft. There are only 2 banks that will except BR's as customers. These are the Co-op with their Cashminder account and Barclays Cash account. Open the account before BR and get your finances sorted.

    myself and hubby are going bankrupt but do we have to do it all seperate and have seperate meetings You will have to fill out 2 seperate forms and pay 2 lots of fees. The clerk usually is quite nice and will let you go in together as will the judge. When you have your phone interview one will go first and then the other. You won't be able to speak for each other.

    many thanks in advance for any info offered

    Have a good Christmas and keep reading and asking questions, though it will probably be best if you start your own thread and more people will see it.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • I am very much pleased to learn a lot from your post. I am sure it help me and others too.
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    edited 26 January 2011 at 6:43PM
    Allegedly the new HES figures?
    UPDATED JANUARY 2011 FROM THE OFFICE OF NATIONAL STATISTICS DATA FOR FAMILY EXPENDITURE 2009/10

    IMPORTANT NOTES


    1) The figures in the table are average household spending in England for non-bankrupt households, which includes the use of credit.

    2) Regional variations in some expenditure categories must be considered and local knowledge applied where appropriate.

    3) The figures are a guide to compare against the bankrupt's claim for a particular expense, not as an amount that can be automatically claimed.

    4) Examiners should seek evidence where an amount claimed does not appear reasonable or fit the particular circumstances.

    5) 'Other possible essential expenses' listed are those commonly claimed but evidence should be sought of actual expense.

    6) Items listed as non-essential are those requiring closer examination, but the list is not exhaustive.
    7) Where available Examiners should compare alternative sources of declared expenditure such as debt management plans or IVA's.
    8) The figures provided include expenditure on children where they are dependant members of the household.

    9) Examiners should refer to Technical Manual chapter 31.7, Parts 1 to 4 for additional guidance on allowable expenditure.

    Categories of essential expenditure

    Technical Manual
    Single retired adult #5 Single non-retired adult Single adult +2 children Two adults +2 children Two adults no children

    Mortgage payments or rent on your home
    31.7.82-84 variable variable variablevariable variable
    Housekeeping, including food and cleaning
    £197 £197 £317 £488 £363
    Gas, electricity, other heating
    £61 £77 £94 £91 £100
    Water
    £24 £30 £37 £35 £39
    Telephone charges
    31.7.92 £26 £32 £47 £59 £49
    Travelling to and from work and other essential journeys (personal transport)
    31.7.124 £33 £75 £68 £163 £157
    Travelling to and from work and other essential journeys (public transport)
    31.7.125 £11 £25 £23 £55 £53
    Clothing
    31.7.116 £29 £39 £88 £142 £98
    Maintenance payments #1 and fines #2 31.7.119
    Council tax #3 variable variable variable variable variable

    #1 Formal arrangements only - calculated from net income x 15% for one child, 20% for two children, 25% for three plus children
    #2 Court imposed fines only - these cannot be included as bankruptcy debts
    #3 Council tax average for England between £90 - £130 per month

    #4 Prepaid prescriptions charges (PPC) - £28.25 for 3 months £104 for 12 months - check for exemptions - free in Wales
    #5 Not mainly dependant on state pension


    Other possible essential expenses - See Technical Manual
    Technical Manual

    TV licence (£142.50 per year or £12 per month)
    31.7.110
    Insurance policies (except motor)
    31.7.117
    Mobile phone costs 31.7.92
    Dry cleaning
    31.7.116
    Children's school meals (check for exemptions)
    After school clubs and trips
    31.7.94
    Childcare - if parent/s are working 31.7.95
    Dentist31.7.122
    Prescriptions #4 (£7.20 per item) - England
    31.7.121
    Opticians31.7.122
    Pets (evidence to be provided)
    31.7.116
    Professional body membership (unless paid by employer)
    31.7.107
    Hairdressing and personal care 31.7.116
    Rent arrears
    31.7.82
    Broadband computer costs
    31.7.93
    Holidays
    31.7.116

    Not considered essential expenditure - See Technical Manual

    Social and entertainment expenditure
    31.7.113
    Pocket money for children

    Gym membership
    31.7.114
    Sports and club membership
    31.7.114
    Satellite and cable TV
    31.7.110
    Alcohol

    Cigarettes

    Private healthcare

    Excessive mortgage payments
    31.7.85-91
    Additional pension contributions3 1.7.109
    Charity/religious tithing 31.7.115
    Cleaning, gardening and ironing services
    31.7.116
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • WLITC
    WLITC Posts: 1,029 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    fermi wrote: »
    Allegedly the new HES figures?
    When are these likely to be confirmed? Does the IS started using the HES figures as soon as they are released the the office of National statistics or does it normally take a few months before these numbers are issued to the OR's to use as the guide figures?

    BTW, good to see after last years decreases (which was crazy) that some items such as household expenditure and clothing, etc have gone back up (can't find last years figures to compare).
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    the figures are used straight away, the technical manual provided by the IS under FOI, is naturally always updated a bit later for the public, usually 1- 2 months, so that IS staff can take in any changes before the public get to see
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • WLITC
    WLITC Posts: 1,029 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    debtinfo wrote: »
    the figures are used straight away, the technical manual provided by the IS under FOI, is naturally always updated a bit later for the public, usually 1- 2 months, so that IS staff can take in any changes before the public get to see
    Well thats good to hear. It was crazy that they were using figures from 2008/09, which was partly a period of deflation .. especially as food, utilitiy and transport (inc petrol) prices has sky rocketed in the last year .. and of course not forgetting the VAT increase this month.
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