wILL I HAVE TO PAY INTO MY BANKRUPTCY?????

newdawn_2

When things have settled and you are feeling better and calmer you may like to look at the Child maintenance options website. If you want to claim any maintenance it isnt taken into account for Housing benefit purposes now.

Just think in a couple of years when the children are both at school you will have alot less childcare to pay out for. Any maintenance you get will be yours. This could possibly be the best thing you have done although its hard to see that is right now because of all the worry and uncertainty.

Have you sorted out a basic bank account?

samyc

my car had to go back to the finance company so no car, i only live 5 mins from work, thats why they are so cheap
at present i dont really have a holiday fund as i never seem to have any spare cash
how much should i increase my clothing?
i only put the things on here that i pulled from my bankruptcy petiton? will the OR ask for more details?? do you think i am better filling out the one you said and having that in front of me when i have my interview?

newdawn_2

Yes i think that would give you more detail and help if more questions are asked. The OR interviewer is normally very good and helpful.

Ie is household just food and cleaning?
What about Child activities (swimming etc) Maybe £30/40 a month.
Holiday fund £40 pcm.
TV licence £12? pcm
Presents £20 pcm (some ORs allow/ others dont)
Clothing £70/80 pcm

You need to make sure it still balances so you dont have a defecit figure. You may not do child activites now cos you cant afford them right now but you can still budget for them.

samyc

Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 927
Partners monthly income after tax....... 0
Benefits................................ 2028
Other income............................ 0
Total monthly income.................... 2955
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 88
Gas..................................... 88
Oil..................................... 0
Water rates............................. 88
Telephone (land line)................... 53
Mobile phone............................ 15
TV Licence.............................. 12
Satellite/Cable TV...................... 22.5
Internet Services....................... 0
Groceries etc. ......................... 352
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 1473
Other child related expenses............ 10
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 2902.5

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
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,955
Expenses (including HP & secured debts). 2,902.5
Available for debt repayments........... 52.5
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 52.5
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

Total amount of debt : £27,156.83

newdawn_2

Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 927
Partners monthly income after tax....... 0
Benefits................................ 2028
Other income............................ 0
Total monthly income.................... 2955
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 88 (find out current usage without arrears
Gas..................................... 88 (find out current usage without arrears
Oil..................................... 0
Water rates......................... 88 (find out current usage without arrears
Telephone (land line)................... 53
Mobile phone............................ 15 may not allow
TV Licence.............................. 12
Satellite/Cable TV...................... 22.5 not allowed
Internet Services....................... 0
Groceries etc. ......................... 352
Clothing................................ 50 increase to at least £70
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 1473
Other child related expenses............ 10 increase to £20/30
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 25 not sure sorry
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 10
Holiday................................. 0 £40?
Emergency fund.......................... 10 prob not allowed
Total monthly expenses.................. 2902.5

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
Total unsecured debts..........0.........0.........-

samyc

newdawn wrote: »

When things have settled and you are feeling better and calmer you may like to look at the Child maintenance options website. If you want to claim any maintenance it isnt taken into account for Housing benefit purposes now.

Just think in a couple of years when the children are both at school you will have alot less childcare to pay out for. Any maintenance you get will be yours. This could possibly be the best thing you have done although its hard to see that is right now because of all the worry and uncertainty.

Have you sorted out a basic bank account?

just seen this post, I did a claim through CSA when my youngest was 18months and ive had nothing (waste of time)
my eldest starts full time in jan & youngest starts nursery in jan, my childminder still wants to charge me at least £300!! :mad: but my girls are settled thats the only thing thats stopping me moving them to different childminder, but obviously f my child care costs are lowered then my tax credits will also be lowered so its still money i dont see
im trying to think it was for the best but at the min im still stressing like mad!!

newdawn_2

Have a play with those when you have current usage figures. Try and get your surplus as low as possible in case things are allowed so you can still stay under £99.

samyc

newdawn wrote: »

Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 927
Partners monthly income after tax....... 0
Benefits................................ 2028
Other income............................ 0
Total monthly income.................... 2955
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 88 (find out current usage without arrears
Gas..................................... 88 (find out current usage without arrears
Oil..................................... 0
Water rates......................... 88 (find out current usage without arrears
Telephone (land line)................... 53
Mobile phone............................ 15 may not allow
TV Licence.............................. 12
Satellite/Cable TV...................... 22.5 not allowed
Internet Services....................... 0
Groceries etc. ......................... 352
Clothing................................ 50 increase to at least £70
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 1473
Other child related expenses............ 10 increase to £20/30
Medical (prescriptions, dentist etc).... 7
Pet insurance/vet bills................. 25 not sure sorry
Buildings insurance..................... 0
Contents insurance...................... 9
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 20
Entertainment........................... 10
Holiday................................. 0 £40? (is this allowed)????
Emergency fund.......................... 10 prob not allowed
Total monthly expenses.................. 2902.5

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
Total unsecured debts..........0.........0.........-

i myself think i will end up paying into this

newdawn_2

The idea behind holiday/child care activities/ presents etc is that children of bankrupts should not be penalised. Some ORs embrace this and others dont.

The main thing is to make sure your essential household expenditure means you are left with surplus of less than £99. Then if there is anything left things like holiday/childcare expenses etc can be spent on the rest.

newdawn_2

Reckon when your youngest starts nursery with PT funding it may work out cheaper for her to attend the hours you need their instead of childminder. You still have to pay 20% of childcare costs on tax credits so on £300 thats £60 per month. Find out what the compartive would be for nursery. You may be plesantly surprised