Feeling somewhat confused!

Southerner

Hi, first of all, thanks to all of you for your contributions. In such stressful times the advice and support available here is golden.


I won’t tax you with too many details. In a nutshell, my situation has been bad for a decade. I started to accumulate some (by then still manageable) debts while at University, but the amount grew as I first began to live from my CC while trying to find a job, and later used the CC to make up for the monthly shortfall between my P/T salary and a life of F/T expenses. Years down the line, my debts have grown to £47,000 of unsecured debt :eek:, I work to service minimum payments, live of my OD, and even so struggle to reach the end of the month....I cannot see a way out. When I contacted CCCS last year they advice bankruptcy, but I was too scare to go ahead. So, I tried further...an failed. Now, I am in the same position than last year as despite paying hundreds of pounds per month to my CCs they are maxed out as they were a year ago. So, I decided to take a deep breath and file for bankruptcy. Now, I have a few questions and will appreciate your advice:
1-[FONT=&quot] [/FONT]My travel expenses are high because I commute 4 times a week from London to the South Coast (work). Will the OR accept this or will s/he expect me to move close to my workplace?
2-[FONT=&quot] [/FONT]My partner became unemployed last year, and after running out of contributions he was refused JSA because of my high salary. Will the OR accept the high household maintenance costs given that he cannot contribute to the expenses?
3-[FONT=&quot] [/FONT]Can you take a look at my SOA and give me some feedback?
4-[FONT=&quot] [/FONT]THANKS!!!!!



Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2332
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2332

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 910
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 70
Gas..................................... 50
Oil..................................... 0
Water rates............................. 28
Telephone (land line)................... 45
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10 (for work)
Groceries etc. ......................... 400
Clothing................................ 60
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 35
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 380 (commute to work)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 2325


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300
No Secured nor Hire Purchase Debts

Unsecured Debts
Description.............................Debt....................Monthly...APR
Nat C.....................................12397.....................278.......0
Bar C....................................2187.........................57........27.9
Post C....................................2274........................58........0
Vane.......................................1000.........................0.........0
JB...........................................4000.........................0.........0
Nat L......................................23799......................384.......0
Abby National..........................1700......................0..........
Total unsecured debts..............47357...................777.......-


Monthly Budget Summary
Total monthly income.................... 2,332
Expenses (including HP & secured debts). 2,325
Available for debt repayments........... 7
Monthly UNsecured debt repayments....... 777
Amount short for making debt repayments. 770

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... 47357
Net Assets.............................. -47057

debtinfo

Southerner wrote: »

Hi, first of all, thanks to all of you for your contributions. In such stressful times the advice and support available here is golden.


I won’t tax you with too many details. In a nutshell, my situation has been bad for a decade. I started to accumulate some (by then still manageable) debts while at University, but the amount grew as I first began to live from my CC while trying to find a job, and later used the CC to make up for the monthly shortfall between my P/T salary and a life of F/T expenses. Years down the line, my debts have grown to £47,000 of unsecured debt :eek:, I work to service minimum payments, live of my OD, and even so struggle to reach the end of the month....I cannot see a way out. When I contacted CCCS last year they advice bankruptcy, but I was too scare to go ahead. So, I tried further...an failed. Now, I am in the same position than last year as despite paying hundreds of pounds per month to my CCs they are maxed out as they were a year ago. So, I decided to take a deep breath and file for bankruptcy. Now, I have a few questions and will appreciate your advice:
1-My travel expenses are high because I commute 4 times a week from London to the South Coast (work). Will the OR accept this or will s/he expect me to move close to my workplace?
2-My partner became unemployed last year, and after running out of contributions he was refused JSA because of my high salary. Will the OR accept the high household maintenance costs given that he cannot contribute to the expenses?
3-Can you take a look at my SOA and give me some feedback?
4-THANKS!!!!!



Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2332
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2332

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 910
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 70
Gas..................................... 50
Oil..................................... 0
Water rates............................. 28
Telephone (land line)................... 45
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 10 (for work)
Groceries etc. ......................... 400
Clothing................................ 60
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 35
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 380 (commute to work)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 0
Total monthly expenses.................. 2325


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 300
Other assets............................ 0
Total Assets............................ 300
No Secured nor Hire Purchase Debts

Unsecured Debts
Description.............................Debt....................Monthly...APR
Nat C.....................................12397.....................278.......0
Bar C....................................2187.........................57........27.9
Post C....................................2274........................58........0
Vane.......................................1000.........................0.........0
JB...........................................4000.........................0.........0
Nat L......................................23799......................384.......0
Abby National..........................1700......................0..........
Total unsecured debts..............47357...................777.......-


Monthly Budget Summary
Total monthly income.................... 2,332
Expenses (including HP & secured debts). 2,325
Available for debt repayments........... 7
Monthly UNsecured debt repayments....... 777
Amount short for making debt repayments. 770

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... 47357
Net Assets.............................. -47057

Most of this seems to be ok although you may have to explain a couple of things. The rent looks a little high but i am a northerner. I take it that this is not a 4 bed detached and it just represents the costs of london. The other one is the travel as you stated. If you can show that the journeys are nessescery and that no alternative cheaper travel options are available then shold have no probs. As for the partner. The OR expects each person to pay a fair share based on their income, so no income no contriution and you cab use your whole income to pay all the joint outgoings

Southerner

Thanks Debtinfo. The rent is actually low for central London (it is a two-bedroom flat), as for the fares, the cheapest return train costs £28.... and I need to be at the office 4 days per week. So, I guess that my SOA shoudl be ok.