Bankrupcy while employed - half pay salary (sickness) and SOA

Anna39

Thanks Shadow

I just wonder if I feel the SOA for the BR in Court - with my full salary and no work related expenses (no travel etc as I am off sick now) this may make things complicated so ideally I would be doing this after the half pay kicks in just to avoid any confusion.

On the other hand - I know that kleeping the 500 safe for fees is nto going to be easy

Need to think a bit more about it...

tigerfeet2006

Do you have anyone you trust to hold it for you.

The only reason I would wait is I have a real problem with forms and avoid them where at all possible, it was bad enough doing the forms once, took me 5 months. But that is me.

shadowdragon

does the fact your on full pay show that your solvent or insolvent? plus you could always put a note in for the judge explaining the circumstances that your income is going to drop by 50% in two weeks time and no possiblility of it increasing again in the near future.

Anna39

Do you have anyone you trust to hold it for you.

Nah - only got my daughter here and..

...would anyone trust an 18 yo with 500?

maybe not

does the fact your on full pay show that your solvent or insolvent?

Not sure I understand the above?

plus you could always put a note in for the judge explaining the circumstances that your income is going to drop by 50% in two weeks time and no possiblility of it increasing again in the near future.

Oooo - I like the option above, thanks a lot for that.

tigerfeet2006

Anna39 wrote: »

Nah - only got my daughter here and..

...would anyone trust an 18 yo with 500?

maybe not

Hmmm!! as you say maybe not

Rylynn

Hi just read your full thread here. Can I just firstly say I hope all goes well for you, secondly everyone here has been fantastic to me with help and support and like you I still have the court to get to yet.

Looking at your SOA my only concern was your daughters lunches, £80 a month is a huge amount of money, if the OR knocks that back it will up your surplus.

Also once your income drops will you not be eligible for Working/Child tax credits? Not sure what age they pay til for kids but thought I would mention it, as again if you are eligible it will up your suplus.

I was on six months full then 5.5 months half pay, but I now only work part time til I can get back to full time, which is not going to be any time soon as I am still not fit enough.

Have you thought that when the 6 months at half pay ends you could get yourself a job that is only part time?

I know you want to avoid and IPA but to be honest if you get one you get one, and I know that is how I know view it. No one says going BR is easy, as it sure is not for most people, but at least once you have gone BR you are on the road to being debt free even if it means an IPA.

On the travel, whether you work or not, surely they have to allow for shopping doctors and hospital visits etc, you can hardly walk to them all, and you do not have the expense of a car.

I also think when you daughter attends uni (unless rules change) you will be expected to take something from her for housekeeping, she would have to pay if she stayed away. How much that would be I have no idea. My mum in her 70s lives with me and I am putting her contribution down the same as if she were a lodger. I do not think they would want to know your daughters money coming in as she will have her own expenses but I do not think they would just except she pays nothing.

However, will you not lose CB? I know the OR does not include it in his calculations for an IPA but you will actually not have that money coming in.

Not sure what I would do on do it now or not, I think I would go for it now, as like you the money laying around is too easy to spend.

Also you have no home insurance I think you said, that is an allowable amount I think I was told £20 and I fully intend getting cover as I will have no spare cash for any accidents or thefts or whatever else it covers.

Will take another look at your SOA in a second to see if there is anything else there that may or may not be an issue.

I know you said you would have to pay more on food for packed lunches but they would not come to £80 I am sure.

Keep you chin up.

Anna39

Rylynn - thanks for posting.

It is not that I am "stubborn" and do not want an IPA no matter what - it just seems to me that with so many things likely to change for me in near future, all is very uncertain.

I did not think - yup, the ChB will stop in Sep next year, completely forgot. So £75 per month less, thanks for reminding me.

Is 80 per month really that much for lunch? My daughter travels an hour each way to College, 5 days per week. £80 per month is roughly £4 per day- that is one drink and a sandwich, not more then that.

The more I read about BR the more I wonder how true is what people say that while BR one has more money then while on DMP and BR is more financially bearable even with an IPA in place.

My SOA for DMP (with CCCS) allowed me monthly expenses like the £80 lunch for my daughter, £150 for my cigarettes, £150 for a dog walker etc etc. All was approved and accepted.

Saying that, on my full salary - one charity quoted my disposable income as 1200 per month and then CCCS queted me as 500 per month so I went with thme and the figures were based around the 500 per month disposable income - all that I have put on SOA for CCCS was accepted/approved.

As I am not working now, things like travel, work clothes and of course the dog walker are not in my SOA but I would need all those if I went back to work eventually.

I do nto worry too much about home insurance but I do not have pet insurance and THAT is quite important as vet bills can be astronomical if an accident happens so I have to sort this one out pronto.

My pets are my family - no way round it....

Ahhhh will deal with it when it comes I guess?

shadowdragon

Remember Anna that everyones cases are different as as there circumstances, your in a complicated situation at the moment with your employment and income, mose people know how much they have coming in and its likley to be the same for the future too.

You dont know where you will be in the future, I would just concentrate on the NOW. Especially if your unwell, its not going to help worrying about two years down the line (lol I do it myself and it used to cut me up inside, now i just go with the flow and take one day at a time) fill your SOA as of the day you file BC, if your circumstances change, fill in another SOA and send it to the OR.

Just go with the flow of the system, its there for a reason. Like mentioned before there are rules to BC and if they take your car or give you an IPA so be it, ask yourself is it better than how your living now? There are a lot of IFs and BUTs when deciding on a life changing decision like BC.

But only YOU can decide if its right for you and all people can do is offer support and guidance. You might find that the OR is happy to allow this that and the other, they may not, but remember you can always disagree and negotiate with them if you feel they are beeing overly harsh with there decisions, any appeals go abover the OR who will be dealing with your case.

Chin up Anna

Shadowdragon.

Anna39

Thanks - I tend to always worry in advance, will try not to

philnicandamy

Trust me...from the worlds BIGGEST worrier its not half as bad as your imagining it can be..keep posting your thoughts/worrys etc here I found it helped a ton with my decision to go bankrupt..as shadow said sure circumstances are different as everyone else is & things are complicated but theres always a way through in the end...usually for the best