when to file/plus SOA?

rabb

Hi this is the scenario I am in.

Working as a supply teacher for next 6 weeks, though the need for me could cease at any second. At present I anticipate being able to work for the next 6 weeks, secured a job but it is just 2.5 days for each of these weeks. After tax I think I'm looking at £180 at best per week, I'd be amazed if I got 6 weeks work out of it. But lets just say I do that gives me £1080. Then the money dries up as I hit the 6 weeks holidays. Other the last 2 summers, first leaving training , then after still being unable to find work last summer Ive survied on JSA, which wasn't given to me last year tho, and increasing my loans plus using credit cards. Well now I've got no option but to file for bankruptcy.

The question is, do I wait til I am claiiming JSA in around 6 weeks time (this will reduce the BR fees won't it?) or do I file now?

The other question is, what kind of SOA am I to construct, every week is completely different in terms of what I earn? And obviously 6 weeks from now JSA is my only source of income unless I find employment in a different employment sector this summer. So I wouldn't know whether to put £1080 (prob too high as that is for 6 weeks work), £265 or what as my monthly income. In 6 weeks time I'll have no direct employment for at least 10 weeks I would estimate, certainly 7 weeks. I don't know if this is of any relevance but unless I can begin my nqt induction b4 xmas 2010 I'm no longer able to teach EVER either as the extension I sought will have run down. Where did it all go wrong!:(:(

bat-out-of-hell

rabb wrote: »

Hi this is the scenario I am in.

Working as a supply teacher for next 6 weeks, though the need for me could cease at any second. At present I anticipate being able to work for the next 6 weeks, secured a job but it is just 2.5 days for each of these weeks. After tax I think I'm looking at £180 at best per week, I'd be amazed if I got 6 weeks work out of it. But lets just say I do that gives me £1080. Then the money dries up as I hit the 6 weeks holidays. Other the last 2 summers, first leaving training , then after still being unable to find work last summer Ive survied on JSA, which wasn't given to me last year tho, and increasing my loans plus using credit cards. Well now I've got no option but to file for bankruptcy.

The question is, do I wait til I am claiiming JSA in around 6 weeks time (this will reduce the BR fees won't it?) or do I file now?The court fee is income based, if you are not automaticaly exempt, so maybe, but by the sounds of it maybe not

The other question is, what kind of SOA am I to construct, every week is completely different in terms of what I earn? And obviously 6 weeks from now JSA is my only source of income unless I find employment in a different employment sector this summer. So I wouldn't know whether to put £1080 (prob too high as that is for 6 weeks work), £265 or what as my monthly income. In 6 weeks time I'll have no direct employment for at least 10 weeks I would estimate, certainly 7 weeks. I don't know if this is of any relevance but unless I can begin my nqt induction b4 xmas 2010 I'm no longer able to teach EVER either as the extension I sought will have run down. Where did it all go wrong!:(:(

You can not plan for ‘if’ funnily enough, a lot of bankrupts end up being bankrupt trying.............

Strange that :think:


Having said that (or typed it) BR should be a last resort, seven to ten weeks is nothing, I have been holding creditors at bay for two years +.

So can not help thinking your rushing things a tad

I think you need to see how thing pan out, before taking such drastic action.

Plus you don’t say what your debts are, so makes it impossible to form an educated (sorry, no pun intended) opinion.

More info, and more time to evaluate your position needed I think, but more info may help

rabb

thanks for your reply. I don't think I could cope with keeping creditors "at bay" for another 2 years when the likelihood is no headway will have been made and I'll likely be further into debt.

Re: You can not plan for ‘if’ funnily enough, a lot of bankrupts end up being bankrupt trying.............

Strange that :think:

I've no idea what you're implying by that. I've outlined my debts previously, no need for me to do again as I was never asking whether I should or should not go bankrupt. Just if I should file straight away or not. In any case I've reached the conclusion that I shall have to wait just so I can bring in some income, as if I file for immediately my bank acc will be frozen and I'll earn zero from working and be incapable of finding the court fees. I will then also fail to clear mobile phone bill and as contract expires next month at least that is something I can enter out of without owing them anything. regards

bat-out-of-hell

rabb wrote: »

thanks for your reply. I don't think I could cope with keeping creditors "at bay" for another 2 years when the likelihood is no headway will have been made and I'll likely be further into debt.

Re: You can not plan for ‘if’ funnily enough, a lot of bankrupts end up being bankrupt trying.............

Strange that :think:

I've no idea what you're implying by that. I've outlined my debts previously, no need for me to do again as I was never asking whether I should or should not go bankrupt. Just if I should file straight away or not. In any case I've reached the conclusion that I shall have to wait just so I can bring in some income, as if I file for immediately my bank acc will be frozen and I'll earn zero from working and be incapable of finding the court fees. I will then also fail to clear mobile phone bill and as contract expires next month at least that is something I can enter out of without owing them anything. regards

Sorry i was not implying anything, have been 'away' from this board for a while, i needed a break for personal reasons, so will have missed your previous posts more than likely.

But can you please answer, for my own piece of mind, that you have taken profesional advice, and they recomended BR, sorry if you have already said so.

bat-out-of-hell

rabb wrote: »

thanks for your reply. I don't think I could cope with keeping creditors "at bay" for another 2 years when the likelihood is no headway will have been made and I'll likely be further into debt.

And for the record, I managed to freeze the accounts after a few months, so it can be done, but it’s not easy, which is one of the reasons I needed to take a 'break'


Br is something you have to live with for life, I don’t regret mine for a second, and as it happens i have failed preventing my OH following…….. after two years trying to prevent it.

So again, if there is more to your situation I don’t know, my apologies, but I was only thinking of your best interests, maybe I should not have bothered coming back.

bat-out-of-hell

Never mind, just read your previous posts.

I will refrain from posting my true thoughts as it is against the board rules

rabb

bat-out-of-hell wrote: »

Never mind, just read your previous posts.

I will refrain from posting my true thoughts as it is against the board rules

Well I guess board rules have been developed over time for a reason and through past experiences.

Though it is quite inconsequential to me what your true thoughts are, and whether you care to post them or not, as I'm solely occupied with the practicalities of my situation at the moment.

bat-out-of-hell

Correct they where, which is why im keeping silent, as some other poster will see what i have and break the rules, and say what i am thinking, so no need for me too.

Though it is quite inconsequential to me what your true thoughts are, and whether you care to post them or not, as I'm solely occupied with the practicalities of my situation at the moment.

Says it all, its all about me me me, i have two kids with the same attitude:cool:

Would you like to change my mind?

How old are you? and why can you not find gainfull employment? is there some medical condition you have failed to mention?

bat-out-of-hell

15-07-2009

rabb wrote: »

hi to cut a long story short when i was at uni i lived like a lord on a shoe string largely due to credit cards. Around 2001 this was.

Anyway to cut a long story short i managed to secure a personal loan in 2003 and paid off all my credit cards. I was, i must admit, being very economical with the truth at the time as i was still a student on about 3000 a year but managed to get a 10k loan. I have since took further money out. Recently, oct 08, i have take further money but have always kept the same length of the loan so the repayments have just gone up. I'm currently a supply teacher and i'm really going to struggle to pay the £350 a month for july and aug as no work and some agencies not paying holiday pay. Basically i'm thinking about calling the bank and requesting a 2 month loan break and repayments will start again in september. I have not once missed a payment in 6 years and it is usually them calling me offering me more credit. There's currently 24 months left on the loan. Can anybody give me any indication of what response you think i'll get? I simply don't have the funds to meet these loans until i can start earning again in sept. If anybody can help thanks:t

27-05-2010

rabb wrote: »

hi, i currently owe around 24k, i've been on a dmp since feb paying 290 a month but it really is crap. I pay argos 13 quid a month and 12 quid interest goes on each month, i pay my overdraft, 25 quid, but it's over the agreed limit of 1000, i spent 1200 before i got on the dmp, so each month i've probably paid nothing off as they keep hitting me with interest and arrangement fees¬:mad: Plus i've got a big 14k loan, will rise to 18k, over the original 4 years with their interest cut and i pay them 194 instead of 380. Or something like that. Plus i pointlessly chip away with 20 quid on a couple of 1700 credit card bills.

I'm think i could still carve out a half decent existence for myself if i payed around 320 a month back and a iva would give me some security knowing exactly when it will be sorted and avoid interest/charges undermining what i'm doing. I'm quite sad to be in this mess and it has happened really quickly over 2 years. Prior to thius i had a manageable loan of 220 a month with 30 months to run, now i have all this extra crap on top. I qualified as a primary school teacher and did everything to get a full time job but to no avail. I've been doing supply teaching since but the work is sporadic and with 14 weeks hols a years there's time when i have no income. Over the last 2 years i developed a pretty serious gambling addiction, primarily sports betting, probably through money worries as i never knew what i'd be earning each week and also depression due to not having a permanent job, which i'd had all my life. Anyway, i'm applying for teaching job still but i'm also looking at other job opportunities, a 15k salary would be more than enough to raise my spirits right now.

So what do you feel are my chances of getting an iva, if i'm willing to pay something like 20k, over 5 years should it be pretty much plain sailing? Thanks. If i could get my debts reduced i'd be delighted but i'd 110% pay the lot of if i could do it over 6 years at not too harsh a monthly outtake.

Advice on any aspect of this post is most welcome, thanks and best wishes to everybody else

.....................................................

bat-out-of-hell

You may not be interested in my thoughts, but i wonder if you may be interested in the thoughts of the posters here that work, or have worked for the Official Receiver, if they care to comment.

rabb

bat-out-of-hell wrote: »

Correct they where, which is why im keeping silent, as some other poster will see what i have and break the rules, and say what i am thinking, so no need for me too.




Says it all, its all about me me me, i have two kids with the same attitude:cool:

Would you like to change my mind?

How old are you? and why can you not find gainfull employment? is there some medical condition you have failed to mention?

Your posts are a little bizarre, though they do reveal a lot about you actually.

I have no need to attempt to "change your mind" for reasons I have already outlined. Yourself, and whoever else, is quite welcome to post whatever you want on this thread, I simply don't care. Why? Because, as you've already acknowledged, personal opinions of people are not what this board is designed for. I can state with some certainty that you would be able to find such boards on the WWW quite easily though if that is what you seek. If asking specific questions and negating the need to disclose details like age, medical history and job seeking efforts is viewed by yourself as me, me, me then so be it. This will be my final response to yourself as your desire for this board to be something it is not is not something I need to engage in. kind regards