What To Do

shaunnortheast

Hi All,
I have 22k unsucured debts and have a disposable income of £86 pm after essential bills and rent, i've decieded BR is the route to go after advice from various bodys, What is the order of play and how do i get a court date and who do i need to inform of my pending BR

dalip

Ring you local court and find out if they do a drop in or appointment system,also ask how many copies of your SOA you need on the day. If it's the later you can make an appointment there and then.Next go to www.insolvency.gov.uk and either fill in your petition on-line or download and print them and do them by hand. Then turn up at court on the day with your SOA,£495 and book to read and thats about it.

shaunnortheast

thanks for the info, just reading that the judge decides if i am truely insolvent would having a spare £86 pm still count as insolvent

t0mm

In order to become bankrupt, you need to be able to demonstrate to a judge that you are in debt and you have no reasonable chance of being able to repay it.

I'd recommend completing the form at this website and pasting the results into a new post on this thread. We'll then be able to give you a better idea of your options:

http://www.makesenseofcards.com/soacalc.html

When you say that you have £86 disposable income, I am assuming that this disposable income is after you have accounted for food, mortgage/rent, petrol, haircuts, dentist/health bills, insurance, tax and all of your loans and credit card pamyents etc etc?

shaunnortheast

Income Per Month £988 After Tax

This Is what i spend on the house related stuff i flat share so my mate pays water rates, tv liecnce, Phone and Inernet (req for work)
Rent £250
Council Tax £55
Electric £40
Sky £47

Car Related ( Do not own the car am borrowing it of a friend)
Insurance £ 74
Beakdown £20
Spare and Repair £15
Fuel £ 80
Tax £11

Food And Stuff
Food £80
Lunch At Work / Meetings £30
Clothing £20
Hair £20
Toilitaries £20
Holiday Fund £40
Emg Fund £10
Dry Cleaning £20
Cleaning household £10

Work Stuff
Computer Hire £20
stacionary £20
Mailing £20

That Leaves me £86 before paying any debts

dalip

shaunnortheast wrote: »

Income Per Month £988 After Tax

This Is what i spend on the house related stuff i flat share so my mate pays water rates, tv liecnce, Phone and Inernet (req for work)
Rent £250
Council Tax £55
Electric £40
Sky £47 this will not be allowed on your SOA,will have to come out of any surplus

Car Related ( Do not own the car am borrowing it of a friend)
Insurance £ 74
Beakdown £20
Spare and Repair £15
Fuel £ 80
Tax £11

Food And Stuff
Food £80£180
Lunch At Work / Meetings £30put this in with general food
Clothing £20£40
Hair £20£10
Toilitaries £20put this in with general food
Holiday Fund £40
Emg Fund £10not normally allowed
Dry Cleaning £20
Cleaning household £10put with general food again

Work Stuff
Computer Hire £20
stacionary £20?
Mailing £20?

That Leaves me £86 before paying any debts

If you have a surplus of over £99 per month the OR will expect you to contribute a certain amount to your creditors.Dx

shaunnortheast

Thanks will adjust the mail and stationary are work related, im / was a self employed salesman. i just found out today the company i subcontract for is downsizing its staff and it looks like im out of the job, so friday could be my last day. In which case it will be dole and jobseekers i think while i apply for more job, which means it could take me a while to save the money fo BR. Do i get a reduced fee as i may be unemployed

shaunnortheast

just got in contact with the court someone is going to call me back with the date maybe nov, all direct debits canceled, registered with insolvency website, starting on the forms, as my income varies do i take a average income to put on the forms which is what i have done on here, if i paid my debts i would be -£300 per month so the sooner i get this sorted the better

shaunnortheast

not nov sorry march

dalip

Gosh my eyes popped when i read nov:D .

Just take your last 3 months wages and average it out. If you are unemployed at the time of court you can get £150 discount. Also you would need to put our wages as they are on the day your become bc.Dx

shaunnortheast

Just got my date, 9th of feb - bit sooner than i expected but i should be able to raise the funds by then