Can you have a look at these details?

wolfers

My Insolvency Practitioner has completed my Form 6.28 and has asked me to check it. I have a number of questions/concerns.

First, in Section 3, he's listed my Assets as follows:

Cash in hand Nil
Cash in bank Nil

Is this normal? Is it credible? I'll probably have a bit of cash in both on the day of the bankruptcy won't I? Or should I not have?

Fixtures and fittings Basic household items £150

That seems a bit low. I mean, all my stuff is fairly old, but I'd get more than £150 for it if you did a clearance sale on my house, surely?

Then, in Section 7, he's listed my Outgoings as follows:

Rent £695
Housekeeping including food and cleaning £240
Gas, electricity £113
Water £ 25
Travel to and from work £150
Clothing £ 20
Council tax £ 75
TV licence £ 12
Insurance £ 10
Pets £ 30
TOTAL £1,370

But my total income is only given as £1,332, so surely that can't be right?
(Telephone, mobile and broadband are not listed because my company pays for those.)

Under Causes of Bankruptcy I have written:

In 2005 I left my job to live closer to my father who was gravely ill. As I was working in a boarding school at the time, I had to rent a flat for the first time. This meant I had to borrow in order to pay the rent and for living expenses.

In September 2005, I became a trainee accountant and started studying for my accountancy exams. I left part way through my training contract as a result of my own ill health and I had to repay my tuition fees to the accountancy company. I had to incur further liabilities to repay this debt.

In 2006, I started my own business as a private tutor. It took me eight months to build my business and I had no income. I again had to borrow in order to live.

I have tried to repay my creditors; however, as my income has fluctuated there have been times when I have had to borrow in order to supplement my income.

In December 2009, my partner and I split up. He had contributed £600 per month to my living costs and expenses. Until this time I had just been able to manage my creditor payments. I am now no longer in a position to repay my creditors.

I have tried to find a higher paying job but I have been unsuccessful.

***

I would be grateful for any comments.

confused76

wolfers wrote: »

My Insolvency Practitioner has completed my Form 6.28 and has asked me to check it. I have a number of questions/concerns.

First, in Section 3, he's listed my Assets as follows:

Cash in hand Nil
Cash in bank Nil

Is this normal? Is it credible? I'll probably have a bit of cash in both on the day of the bankruptcy won't I? Or should I not have?

i listed nil as well, i did have some cash, but it was earmarked for bills so it wasn't 'extra' cash if you see what i mean

Fixtures and fittings Basic household items £150

personally i wouldn't bother listing this but makes little difference. they are only interested in items that would fetch over £1000 at auction

That seems a bit low. I mean, all my stuff is fairly old, but I'd get more than £150 for it if you did a clearance sale on my house, surely?

Then, in Section 7, he's listed my Outgoings as follows:

Rent £695
Housekeeping including food and cleaning £240
Gas, electricity £113
Water £ 25
Travel to and from work £150
Clothing £ 20
Council tax £ 75
TV licence £ 12
Insurance £ 10
Pets £ 30
TOTAL £1,370

But my total income is only given as £1,332, so surely that can't be right?
(Telephone, mobile and broadband are not listed because my company pays for those.)

should really balance or have some left over, shouldn't show a deficit, drop a bit off housekeeping and pets

Under Causes of Bankruptcy I have written:

In 2005 I left my job to live closer to my father who was gravely ill. As I was working in a boarding school at the time, I had to rent a flat for the first time. This meant I had to borrow in order to pay the rent and for living expenses.

In September 2005, I became a trainee accountant and started studying for my accountancy exams. I left part way through my training contract as a result of my own ill health and I had to repay my tuition fees to the accountancy company. I had to incur further liabilities to repay this debt.

In 2006, I started my own business as a private tutor. It took me eight months to build my business and I had no income. I again had to borrow in order to live.

I have tried to repay my creditors; however, as my income has fluctuated there have been times when I have had to borrow in order to supplement my income.

In December 2009, my partner and I split up. He had contributed £600 per month to my living costs and expenses. Until this time I had just been able to manage my creditor payments. I am now no longer in a position to repay my creditors.

I have tried to find a higher paying job but I have been unsuccessful.

***

I would be grateful for any comments.

a few comments above, but it's only really my opinion. your reasons sound fine to me too. its chronological and clear

philnicandamy

dont worry about the cash in hand questions thats only applicable to business bankruptcy

wolfers

Thank you for those comments. I've adjusted the figures so that I have a small surplus of about £10 a month now.