Is BR the best option??

oliviarosejackson

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 552
Partners monthly income after tax....... 0
Benefits................................ 535
Other income............................ 0
Total monthly income.................... 1087

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 222
Management charge (leasehold property).. 0
Council tax............................. 20
Electricity............................. 34
Gas..................................... 34
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 4
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 240
Clothing................................ 70
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 35
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 20
Entertainment........................... 30
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 999

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,087
Expenses (including secured debts)....... 999
Available for debt repayments........... 88
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 88

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

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dalip

That looks fine except they wont accept entertainment.

No they wont refuse bc on the gounds of a failed IVA. The OR does not monitor your income. They rely on you being honest and telling them of any changes(up or down) with 21 days.
You can do your i&e any way you think best. Try not to worry too much,i know thats easier said than done.D

oliviarosejackson

No they wont refuse bc on the gounds of a failed IVA. The OR does not monitor your income. They rely on you being honest and telling them of any changes(up or down) with 21 days.
You can do your i&e any way you think best. Try not to worry too much,i know thats easier said than done.D

Thank you agin for that. Will they need proof of me giving my parents money?? As I do not get a reciept from them. Am I best to start writing it all down??

So can I just get this correct, if I do go BR, I am an undisclosed bankrupt for 12 months, I then get discharged. Depending on my I&E I may have to pay a IPA or IPO for the next 3yrs. It will be on my credit file for the next 6 yrs. But if ever I am asked have I ever been bankrupt on forms, etc I will always have to say yes.

I think my mum is a little unsure of me doing this - think the main reason is because of it going into the paper and people they know seeing it.... Going to ring national debtline in a minute, see what advice they can give. Want to get as much advice as I can..

dalip

As far as proof is concerned do you have any bank statements which show you drawing the money out or transferring it to your parents?. I had keep from my daughter and her boyfriend which went into my account every wk. That was the only proof i had and it was never questioned.

Yes on all counts except it's an undischarged bc not undisclosed;)

Sorry pressed the submit button by mistake and it cut me off in my prime!!!!!

oliviarosejackson

Yes on all counts except it's an undischarged bc not undisclosed;)

Hehehe, sorry abou the mistake. You can see now why I need all of this help

Yes I have bank statements to prove me withdrawing the money for them.

oliviarosejackson

Hi, sorry to bother everyone again.

I just wanted to ask, what sorts of jobs do going BR affect?? As I am in the proccess of getting my life sorted and was wanted to aim towards being a midwife.... Would it be a problem if I have been bankrupt??

deedee_3

No it won't be a problem. It is usually people who are regulated by the FSA who are affected.

Don't worry about the questions as it says in Tigerfeet's signature 'The only stupid question is an unasked one'

dalip

Go for it olivia. I always wanted to be a midwife. Even went back to college and then uni to get there but sadly never made it:o .As i say so many times asking questions is keeping us helpers busy and out of trouble;) D

oliviarosejackson

No

it won't be a problem. It is usually people who are regulated by the FSA who are affected.

Thank you dor that deedee. The thought just came into my head when I was at work and it got me worried that I might not be able to do it in the future. You have put my mind at rest, thank you again.

Go for it olivia. I always wanted to be a midwife. Even went back to college and then uni to get there but sadly never made it:o .As i say so many times asking questions is keeping us helpers busy and out of trouble;) D

How come you never made it dalip?? I went to college to try to get my A levels, but never managed to finish them. I now have a part time job in caring.... Though it was a good way to gain experience and get the qualifications at the same time whilst working and then I would be able to go for midwifery when all my money problems were over, as I cant afford to do it now.

dalip

Hi Olivia

I went back to college to get qualifications to get me into nursing(2 A levels,4 O levels) at the ripe old age of 37:eek: . Because the intake for nursing starts in the early part of the year,my results would not have been through i for that year,so i got accepted onto uni on a 3 yr Bsc Honors degree in biological science and heath studies. I found the first year ok but being a mature student:o amongst fresh little people just out of school,who had already covered the basic's,hard going. I completed and passed the first year and went to work with my OH for the summer hols. Earning money when i had 3 young girls at home was a temptation i could not resist.Out of 120 applicants i made it to the final 20 chosen for interview for midwifery. There were only 8 places going but i did not get chosen. I was told to go and learn to drive and reapply the following year. I was offered a general nursing place with the option of diverting after 18mths to midwifery but stupidly refused it. I never went back to uni instead i stayed working with my OH at that same place for 11 yrs. I am now unemployed but have been applying for jobs in the caring profession in the hope i can realise a dream,if not in perfection,prtty close.


Sorry did not intend that to be my life story:o :eek: :rotfl: