bankruptcy info needed

confused76

sappy wrote: »

My dentist is but opticians i do not believe is covered by the maternity exemption.

Do u think from my figures they will accept bankruptcy or do i have to much left over?

have you taken advice from one of the debt charities and did they recommend br?

for a br to go through, you need to be insolvent - eg you can't service your debts each month. for example, you are showing about £150-£200 left over after your basic expenses each month (give or take, after the adjustments suggested). if your minimum debt repayments are more than this surplus then you are insolvent

bear in mind, if you have over £99 surplus after basic expenses the OR can set up an IPA, which means you would be paying a percentage of your surplus income back for 3 years. this is why we are trying to make sure you have covered everything in your SOA

does this make sense?

sappy_2

Thanks yes that does make sense.

I have spoken to a bankruptcy company that have advised it would be the best option for me.

The debt is around 83,000 this is mainly due to a seperation and voluntarily (cant spell!!) handing back the house to the mortgage company and joint debts I had when married ie loan that I can not afford to pay back by myself and the ex doesnt want to pay anything.

Darnit_2

Most of the income is benefits, so I don't think they can ask for an IPA from benefits. However, air on the sie of cautin and add more in, such as holidays, haircuts, clothes etc. You have to be realistic, people do need these things?

sappy_2

ok thanks - i will do.

There is me and 2 kids in the house so i am not sure if that makes a difference to the amounts.

Do you think cos of my income they will ask for the whole amount of bankruptcy cost or just the main part.