Another BR question please

Feelingfoolish_3

Hi

Two of my reasons for going bankrupt are that my ex is reducing my child maintenance from next month by £200 and my overtime at work has stopped, another £200 approx. I am aware that I have overcommitted on my credit debts and have been considering bankruptcy before this happened, but since the beginning of the year I have been working overtime to see if it made a difference and it didn't really.

My question is this - on my BR forms I have listed what my income will be from next month and this shows I am insolvent (I can only manage half of my repayments). When the OR looks at my bank statements and pay statements would he view me as suspicious and trying to hide things which I'm not, the reduction in my income has now forced my head out of the sand and I'm trying to take some control for the future. I will happily provide future pay and bank statements to show that I am honest. (My maintenance is a private arrangement).

Thanks for your time (Im feeling very scared about the whole thing)

fiveyearplan

You just need to put the income as it is on the day of bankruptcy so if your overtime has stopped for whatever reason just put down the figure without overtime. When it comes time for your OR interview just explain that your company has stopped overtime and that your child's father has had to reduce your child maintenance because of his dropped income. ORs will be used to seeing this sort of thing and as long as you are honest and your bank account shows this drop in income there is nothing they can do.

Don't be scared - we have all lived through it!

Feelingfoolish_3

Thank you for your reply.
I also had to use my cc this weekend to buy food, I get paid next week. I realise that the OR will take a dim view of this, but how much?

philnicandamy

probably just a telling off....afterall you have to eat

fiveyearplan

Whatever you do though don't pay anything to that creditor as it will be favouring one creditor over another. As long as you show it was for essential living expenses you should be fine. Do you have your fees together?

Feelingfoolish_3

Hi fiveyearplan
I have been paying minimum to creditors and still have direct debits for my loans, I have basically been living off credit thinking I can manage but with a heavy heart I know I cant. Im planning on not paying anyone this month and will have the fee and then take a very deep breath and go BR this month, my court has a drop in service. So for the past few months I have used 2 credit cards for food and occasional clothing, (the rest have been on 0% and havent touched them). It may bring me a BRO but if thats the case I will have to live with it.

Thank you so much for your help