Taking the bankruptcy route! Advice please

beentheredonethatstilhere

No worries, if you do one with your current situation and say how much youmight be able to earn in the future I am sure someone will tell you what sort of IPA you may be paying.

BTW if you get a job and need a car then make sure your GF buys it for you and get's the reciept in her name as the OR will wonder where you found the money from

leftatthelights

Thanks a lot bud (budette)?? ha ha
Will post asap.

beentheredonethatstilhere

Was a bud last time I looked

No problem, look forward to seeing your SOA when you get a chance.

leftatthelights

class mate!! LOL

leftatthelights

Hi again, have a look at my SOA.

Any suggestions or commants are more than welcome.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 932.56
Benefits................................ 124.8
Other income............................ 0
Total monthly income.................... 1057.36
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 445
Management charge (leasehold property).. 0
Council tax............................. 76
Electricity............................. 97
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 65
TV Licence.............................. 12.12
Satellite/Cable TV...................... 40
Internet Services....................... 10
Groceries etc. ......................... 160
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1057.12

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
virgin media...................253.......0.........0
lowell.........................2766......0.........0
nationwide CC..................4377......0.........0
Northern Rock Loan 2...........6284......0.........0
Orange Communications..........103.......0.........0
Northern Rock Loan 1...........18409.....0.........0
Total unsecured debts..........32192.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,057.36
Expenses (including HP & secured debts). 1,057.12
Available for debt repayments........... 0.24
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 0.24
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -32,192
Net Assets.............................. -32,192
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.


I am currently awaiting my Experian credit file which may reveal additional debts (the information above is based on an equifax credit file). I suspect that Experian have more debts on file but im uncertain.
Im hoping get my Experian file through by tomorrow so I can cross reference the debts through both credit agencies so I dont miss anything out when I declare BR.

If I was to gain employment as an Electrician then the benefits section would be zero and my income would be (flat rate) £1350 per month.

As I said at the top, any comments are welcome.

Thanks.

beentheredonethatstilhere

leftatthelights wrote: »

Hi again, have a look at my SOA.

Any suggestions or commants are more than welcome.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 932.56
Benefits................................ 124.8
Other income............................ 0
Total monthly income.................... 1057.36
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 445
Management charge (leasehold property).. 0
Council tax............................. 76
Electricity............................. 97
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 65 Put this under phone and max. £60 together
TV Licence.............................. 12.12 £12
Satellite/Cable TV...................... 40 Not allowed on SOA, must come out of surplus.
Internet Services....................... 10 ditto
Groceries etc. ......................... 160 £400 for 2
Clothing................................ 20 when working up to £50
Petrol/diesel........................... 0 when working add approx £120 but obviously to suit if more.
Road tax................................ 0 needed when working
Car Insurance........................... 0 ditto
Car maintenance (including MOT)......... 0 ditto
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7 £20
Pet insurance/vet bills................. 0 do you not have pets?
Buildings insurance..................... 0
Contents insurance...................... 0 this is a must especially with accidental damage £20ish
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 leave in but most don't allow.
Haircuts................................ 10
Entertainment........................... 30 not allowed
Holiday................................. 0 £30
Emergency fund.......................... 0
Total monthly expenses.................. 1057.12

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
virgin media...................253.......0.........0
lowell.........................2766......0.........0
nationwide CC..................4377......0.........0
Northern Rock Loan 2...........6284......0.........0
Orange Communications..........103.......0.........0
Northern Rock Loan 1...........18409.....0.........0
Total unsecured debts..........32192.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,057.36
Expenses (including HP & secured debts). 1,057.12
Available for debt repayments........... 0.24
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 0.24
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -32,192
Net Assets.............................. -32,192
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.


If I was to gain employment as an Electrician then the benefits section would be zero and my income would be (flat rate) £1350 per month.

As I said at the top, any comments are welcome.

Thanks.

Hope my comments help you in some way.

philnicandamy

leftatthelights wrote: »

Hi again, have a look at my SOA.

Any suggestions or commants are more than welcome.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 932.56
Benefits................................ 124.8
Other income............................ 0
Total monthly income.................... 1057.36
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 445
Management charge (leasehold property).. 0
Council tax............................. 76
Electricity............................. 97
Gas..................................... 0 No gas?
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15
Mobile phone............................ 65
TV Licence.............................. 12.12 round it up £13
Satellite/Cable TV...................... 40 NOT allowed would have to come from any surplus IF any
Internet Services....................... 10 NOT usually allowed unless for employment or education
Groceries etc. ......................... 160 seems low for 2
Clothing................................ 20 could up this a bit
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50 whats this? presume bus/train
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7 £10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0 NO insurance?
Contents insurance...................... 0
Life assurance ......................... 0 NO insurance? you ideally need some with accidental damage cover be hard to replace thigs should you ever need to
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 Usually NOT allowed BUT leave & see
Haircuts................................ 10
Entertainment........................... 30 NOT allowed by the OR i'm afraid
Holiday................................. 0 Your allowed an ammount here
Emergency fund.......................... 0
Total monthly expenses.................. 1057.12

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
virgin media...................253.......0.........0
lowell.........................2766......0.........0
nationwide CC..................4377......0.........0
Northern Rock Loan 2...........6284......0.........0
Orange Communications..........103.......0.........0
Northern Rock Loan 1...........18409.....0.........0
Total unsecured debts..........32192.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,057.36
Expenses (including HP & secured debts). 1,057.12
Available for debt repayments........... 0.24
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 0.24
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -32,192
Net Assets.............................. -32,192
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.


I am currently awaiting my Experian credit file which may reveal additional debts (the information above is based on an equifax credit file). I suspect that Experian have more debts on file but im uncertain.
Im hoping get my Experian file through by tomorrow so I can cross reference the debts through both credit agencies so I dont miss anything out when I declare BR.

If I was to gain employment as an Electrician then the benefits section would be zero and my income would be (flat rate) £1350 per month.

As I said at the top, any comments are welcome.

Thanks.

Just a few thoughts....dont worry about missing a creditor though thats the reasons for posting your bankruptcy in the london gazette to give anyone a chance to claim on your estates

philnicandamy

Must learn to type quicker!

leftatthelights

They certainly do help!!!
By the way, im sure I saw a dog around here somewhere?!? LOL (do i not have pets)?? thats an extra £10 at least!

Thanks phil.

beentheredonethatstilhere

At least we are saying the same things though Phil:D