better to have no life or be bankrupt?

affluenza

Are your in-laws aware of your financial situation?

A spouse's parents are very important to keep on your side.

gtanny

now im home from work ive done what i concider a Soa for if i withdraw from my mortgage DMP etc, i.e the one i would actually use for if/when i take the BR route

does this make sense and if so how much extra do you think i would end up paying for the bancruptcy case? also can they refuse my claim?

Household Information

Number of adults in household 2
Number of children in household 1 (presently 17 months)
Number of cars owned 0
Income, Expense, Debt & Asset Details

IncomeAmount(£)
Monthly income after tax 1240
Partners monthly income 0
Benefits 80
Other income 0 (the occational OT varies from £0 - £800)
Total monthly income 1320

ExpensesAmount(£)
Mortgage 0 (currently £450)
Secured/HP loan payments 0 (currently £270)
Rent 400 (possibly need upto 500 currently 0)
Management charge (leasehold property) 0
Council tax 110
Electricity 50
Gas 50
Oil 0
Water Rates 40
Telephone (land line) 30
Mobile phone 0 (currently 30)
TV Licence 12
Satellite/Cable TV 0
Internet services 0
Groceries etc. 400 (inc nappies)
Clothing 50
Petrol/diesel 40 (company car)
Road tax 0 (company car)
Car Insurance 0 (company car)
Car maintenance (including MOT) 0 (company car)
Car Parking 0 (company car)
Other travel 15 (partner on bus)
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 15
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 20
Life Assurance 0
Other Insurance 0
Presents birthday, christmas etc. 0
Haircuts 20
Entertainment 0
Holiday 0
Emergency Fund 0
Total monthly expenses1252

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)
Mortgage 71000 0
Secured Debt 28000 0
Secured & HP Debt totals 99000-

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)
YB Credit Card 12000
YB Overdraft 1600
A&L Loan 8800
BC Credit Card 2100
Unsecured Debt totals 24500-

Asset DescriptionValue (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 0
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 0

tigerfeet2006

dalip wrote: »

Yes and i am now as your box is still full:o Don't you want to talk to me TF?

Sorry again gtanny

Sorry Dalip . Emptied it out a bit now. Had a lot of catching up to do.

fiveyearplan

gtanny wrote: »

now im home from work ive done what i concider a Soa for if i withdraw from my mortgage DMP etc, i.e the one i would actually use for if/when i take the BR route

does this make sense and if so how much extra do you think i would end up paying for the bancruptcy case? also can they refuse my claim?

Household Information

Number of adults in household 2
Number of children in household 1 (presently 17 months)
Number of cars owned 0
Income, Expense, Debt & Asset Details

IncomeAmount(£)
Monthly income after tax 1240
Partners monthly income 0
Benefits 80
Other income 0 (the occational OT varies from £0 - £800)
Total monthly income 1320 total income for IPA purposes is 1240 I take it the benefits are CHB

ExpensesAmount(£)
Mortgage 0 (currently £450)
Secured/HP loan payments 0 (currently £270)
Rent 400 (possibly need upto 500 currently 0)
Management charge (leasehold property) 0
Council tax 110
Electricity 50
Gas 50
Oil 0
Water Rates 40
Telephone (land line) 30
Mobile phone 0 (currently 30)
TV Licence 12
Satellite/Cable TV 0
Internet services 0
Groceries etc. 400 (inc nappies) this could be too high for 3 people
Clothing 50
Petrol/diesel 40 (company car)
Road tax 0 (company car)
Car Insurance 0 (company car)
Car maintenance (including MOT) 0 (company car)
Car Parking 0 (company car)
Other travel 15 (partner on bus)
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 15
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 20
Life Assurance 0
Other Insurance 0
Presents birthday, christmas etc. 0
Haircuts 20
Entertainment 0
Holiday 0 40
Emergency Fund 0
Total monthly expenses1252

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)
Mortgage 71000 0
Secured Debt 28000 0
Secured & HP Debt totals 99000-

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)
YB Credit Card 12000
YB Overdraft 1600
A&L Loan 8800
BC Credit Card 2100
Unsecured Debt totals 24500-

Asset DescriptionValue (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 0
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 0

That looks fine to me apart from a couple of comments I've made.

tigerfeet2006

gtanny wrote: »

now im home from work ive done what i concider a Soa for if i withdraw from my mortgage DMP etc, i.e the one i would actually use for if/when i take the BR route

does this make sense and if so how much extra do you think i would end up paying for the bancruptcy case? also can they refuse my claim?

Household Information

Number of adults in household 2
Number of children in household 1 (presently 17 months)
Number of cars owned 0
Income, Expense, Debt & Asset Details

IncomeAmount(£)
Monthly income after tax 1240
Partners monthly income 0
Benefits 80
Other income 0 (the occational OT varies from £0 - £800) As this is not guaranteed don't put it down. If you do any OT later then let the OR know at the time.
Total monthly income 1320

ExpensesAmount(£)
Mortgage 0 (currently £450)
Secured/HP loan payments 0 (currently £270)
Rent 400 (possibly need upto 500 currently 0) Lets budget £500 to be safe:D
Management charge (leasehold property) 0
Council tax 110
Electricity 50
Gas 50
Oil 0
Water Rates 40
Telephone (land line) 30
Mobile phone 0 (currently 30)£10
TV Licence 12
Satellite/Cable TV 0
Internet services 0
Groceries etc. 400 (inc nappies) £425
Clothing 50
Petrol/diesel 40 (company car)£50
Road tax 0 (company car)
Car Insurance 0 (company car)
Car maintenance (including MOT) 0 (company car)
Car Parking 0 (company car)
Other travel 15 (partner on bus)this is her expense and comes from her income.
Childcare/nursery 0
Other child related expenses 0 £20 for swimming etc
Medical (prescriptions, dentists, opticians etc.) 15
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 20
Life Assurance 0
Other Insurance 0
Presents birthday, christmas etc. 0
Haircuts 20
Entertainment 0
Holiday 0
Emergency Fund 0
Total monthly expenses1252

Secured & HP Debt DescriptionDebt(£)Monthly(£)APR(%)
Mortgage 71000 0
Secured Debt 28000 0
Secured & HP Debt totals 99000-

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)
YB Credit Card 12000
YB Overdraft 1600
A&L Loan 8800
BC Credit Card 2100
Unsecured Debt totals 24500-

Asset DescriptionValue (£)
Cash 0
House Value (Gross) 0
Shares and bonds 0
Car(s) 0
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 0

Hope that helps a little.

fiveyearplan

I forgot to mention phone. I'd put down £60 for phone and that would include landline and mobile but just list it down as phone.

tigerfeet2006

Gtanny I notice you have a joint account, get your name removed from this or it will closed down. If you want a new account for yourself then get your selfa Co-op cashminder (the account of choice for alot of us.) or a Barclays Cash account, these are bothBR friendly account.

gtanny

ive just spoke to national debt line and they explained a few things i was unsure of and explained about that if i want to get the mortgage & secured loan as part of the BR is to stop paying but get into rented accomadation before we go though with the BR due to the credit search that landlords do these days, her other suggestion was to get the rented house in my partners name.

this isnt as scary as i first thought and i know we are going to be so much better off and less stressed then we are currently

my only concern now is that we get married in less then 8 weeks so i need to make sure it doesnt clash with the wedding!

also need to change the wedding gifts as we were asking for holiday vouchers... still might get them just a delayed honeymoon in a year or so (currently got it booked for october so i dont think thats going to happen now )