My plan, some advice please

Sunny_Bear

I am not definate but I think I may be going bankrupt.

A bit of back ground is that my husband isnt working at the moment and is claiming JSA. I earn around 1460 per month and am paying all the bills etc bnut cant keep up with the credit as well. We moved to Devon from BRistol ion June but its not really working out as he cant find a job. I kept my job in Bristol and am staying with my parents. I think we have decide that we need to go back to Bristol fro him to gt a job.

So Im going to open a basic coop bank account and get my wages paid into there. Set up dds for the rent, council tax etc.
Then do you think we should move to Bristol and get a flat first before bacnkruptcy or do it in Devon then move?

Also, if he gets a job while the bankrupcy is going through will they take into account his income? Im worreid they will say you can afford it if he gets a job but all the debts are in my name. I owe around 30,000 .

I'll add a rough soa in a minute from my other thread

Any advice?

Sunny_Bear

Here is the SOA, its a bit rough and would appreciate any advice you have!

Monthly Income Details
Monthly income after tax................ 1464
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1464

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 40
Mobile phone............................ 30
TV Licence.............................. 33
Satellite/Cable TV...................... 39
Internet Services....................... 14.99
Groceries etc. ......................... 150
Clothing................................ 20
Petrol/diesel........................... 120
Road tax................................ 10
Car Insurance........................... 34
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1255.99

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
Halifax CC.....................6000......150.......NaN
Egg Loan.......................13000.....252.......7.9
Capital One....................7100......220.......NaN
Over draft 2...................1000......0.........0
Over draft 1...................1000......0.........0
Car HP.........................4000......138.......8.9
Fashion World..................678.86....30........NaN
Simply Be......................511.04....25........NaN
Total unsecured debts..........33289.9...815.......-


Monthly Budget Summary
Total monthly income.................... 1,464
Expenses (including secured debts)....... 1,255.99
Available for debt repayments........... 208.01
Monthly UNsecured debt repayments....... 815
Surplus(deficit if negative)............ -606.99

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -33,289.9
Net Assets.............................. -33,289.9

tigerfeet2006

Sunny_Bear wrote: »

I am not definate but I think I may be going bankrupt.

A bit of back ground is that my husband isnt working at the moment and is claiming JSA. I earn around 1460 per month and am paying all the bills etc bnut cant keep up with the credit as well. We moved to Devon from BRistol ion June but its not really working out as he cant find a job. I kept my job in Bristol and am staying with my parents. I think we have decide that we need to go back to Bristol fro him to gt a job.

So Im going to open a basic coop bank account and get my wages paid into there. Set up dds for the rent, council tax etc.
Then do you think we should move to Bristol and get a flat first before bacnkruptcy or do it in Devon then move? You have to go BR in the place where you have resided for for six months. So you can do it before you move, move and go back down to Devon to do it, or move and wait 6 months.

Also, if he gets a job while the bankrupcy is going through will they take into account his income? Im worreid they will say you can afford it if he gets a job but all the debts are in my name. I owe around 30,000 . All that will be taken into account is your DH contribution to the household bills. So if his contribution goes up then your's will come down a bit and there is a possibility of an IPA for you for 36 months. When your circumstances change you tell the ORwith in 21 days and ask them to send out a new form. When they do change come back on here and we will see what we can do.

I'll add a rough soa in a minute from my other thread
Any advice?

Will go and look at your SOA

tigerfeet2006

Sunny_Bear wrote: »

Here is the SOA, its a bit rough and would appreciate any advice you have!

Monthly Income Details
Monthly income after tax................ 1464
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1464

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 40
Mobile phone............................ 30
TV Licence.............................. 33 You are only allowed to put in £12 for this
Satellite/Cable TV...................... 39 You will not be able to include this in your SOA it will have to come out of any surplus.
Internet Services....................... 14.99 Unless you need this for work or study then this will have to come out of your surplus.
Groceries etc. ......................... 150 You can up this to a least £360
Clothing................................ 20 This can be upped to £50
Petrol/diesel........................... 120
Road tax................................ 10
Car Insurance........................... 34
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 OR will probably cut this but leave it and see
Haircuts................................ 10 £10 per adult
Entertainment........................... 30 won't be allowed
Holiday................................. 0 £50
Emergency fund.......................... 0
Total monthly expenses.................. 1255.99

prescriptions, dentist, opticians £30

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
Halifax CC.....................6000......150.......NaN
Egg Loan.......................13000.....252.......7.9
Capital One....................7100......220.......NaN
Over draft 2...................1000......0.........0
Over draft 1...................1000......0.........0
Car HP.........................4000......138.......8.9
Fashion World..................678.86....30........NaN
Simply Be......................511.04....25........NaN
Total unsecured debts..........33289.9...815.......-


Monthly Budget Summary
Total monthly income.................... 1,464
Expenses (including secured debts)....... 1,255.99
Available for debt repayments........... 208.01
Monthly UNsecured debt repayments....... 815
Surplus(deficit if negative)............ -606.99

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -33,289.9
Net Assets.............................. -33,289.9

Have a play with those figures to make up to your salary. You will have to put your DH contribution from his JSA in the section where it ask's does any one else contribute.

Sunny_Bear

So I moved to devon on 7th June 08, but some of my bills etc are on my parents address in Bristol as I have been staying there in july due to us having the money probs and not getting on. Do you mean I cant do it now? I either wait until Dec, 6 months in devon then do it, or move back to bristol now and wait 6 months? What do i do then for that whole 6 months, I cant pay the debts if he doesnt get a job! eek

Sunny_Bear

updates soa with those figures

Monthly income after tax................ 1464
Partners monthly income after tax....... 180
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1644

Monthly Expense DetailsMortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 50
Gas..................................... 0
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 40
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 360
Clothing................................ 50
Petrol/diesel........................... 120
Road tax................................ 10
Car Insurance........................... 34
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1481

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
Halifax CC.....................6000......150.......NaN
Egg Loan.......................13000.....252.......7.9
Capital One....................7100......220.......NaN
Over draft 2...................1000......0.........0
Over Draft 1...................1000......0.........0
Car HP.........................4000......138.......8.9
Fashion World..................678.86....30........NaN
Simply Be......................511.04....25........NaN
Total unsecured debts..........33289.9...815.......-

Monthly Budget Summary
Total monthly income.................... 1,644
Expenses (including secured debts)....... 1,481
Available for debt repayments........... 163
Monthly UNsecured debt repayments....... 815
Surplus(deficit if negative)............ -652

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -33,289.9
Net Assets.............................. -33,289.9

tigerfeet2006

Eeek! that's an odd one. If I were you I would give the Insolvency Service a ring in the morning and ask, the number is in my signature.

Or email them [EMAIL="insolvency.enquiryline@insolvency.gsi.gov.uk"]insolvency.enquiryline@insolvency.gsi.gov.uk[/EMAIL]

Sunny_Bear

do you mean the whole where im living thing? Nothing I do is easy!!!

What do you think of the new SOA. It looks bad but if my h get a job I suppose is wages could cover the -652 so would they so no to the bankruptcy do you think?

tigerfeet2006

The SOA looks ok to me. I am sure that one of the others will be able to give a few more suggestions later.

Don't forget the meet is on this weekend and the site will be down so you probably won't get many replies till Sunday night or Monday so don't panic.

fermi

You should normally go bankrupt at the court that covers the area you have lived in for the greatest part of the last 6 months.

Moving won't stop you going BR, but you would need to check with the court service which is the appropriate jurisdiction to do it in.

tigerfeet2006

Sunny_Bear wrote: »

do you mean the whole where im living thing? Nothing I do is easy!!! The address is the thing they go by. Just had a thought it may be 3 months. By brain isn'tworking at the mo :rolleyes:. National Debtline are open till 9pm give them a quick bell.

What do you think of the new SOA. It looks bad but if my h get a job I suppose is wages could cover the -652 so would they so no to the bankruptcy do you think? SOA looks fine to me. If one of the debt charities have advised BR then you won't get refused.

Let us know what NDL says.