The Bankruptcy Club & Supporters Club

scootw1

Well, you cant spend what you dont have and as I have been in an IVA I have only had my wages. A friend did tell me not to withdraw huge sums the next few weeks as the OR may question that

Doushka

OK, here's my SOA... its long... and I know the Sky will have to come out/fit sneakily in somewhere else.

Don't know what to do about the cat expenses as I know they will be questioned.

And just so you aren't too confused, my OH pays the mortgage and half/bit more of the groceries, I try to see to everything else, thats the theory.

Looking at these numbers now, its no wonder I couldn't afford to live with this plus paying approx £800 to creditors each month (and most of them were on payment plans). Why oh why did I get myself into this much debt eh!

Expenses
Mortgage 1,020.00
Council Tax 91.00
Water 30.00
Electricity 50.00
Gas 26.00
Telephone 25.00
Mobile 5.00
TV Licence 12.00
Sky 21.00
Buildings & Contents Insurance 25.00
Burglar Alarm 12.00
Pet Insurance 120.00
Car Insurance 32.00
Road Tax 0.00 (am exempt)
RAC 10.00
Petrol 40.00
MOT & Servicing 30.00
Income Protector 0.00
Life & Critical Illness Insurance 13.00
Endowment 0.00 (on waiver)
Gym 44.00 (therapy more than anything)
Food & Toiletries 150.00
Cat Food & Litter 100.00
Dry Cleaning 10.00
Prescriptions 9.00
Clothing 25.00
Dentist/Opticians/Contact Lenses 20.00
Hairdressing 20.00
Bdays/Xmas/Hols 50.00
Incidentals 40.00

Total Outgoings 1,010.00 (excl mtge that OH pays)

Income
Total Income 1,291.00 (IB, DLA and income protection policy - boy am I glad I had the foresight to get that last one)


Surplus 281.00

Any advice or opinions gratefully received

Doushka

sandralovescats

sarah_skint wrote:

sandra - so if i have to reduce my soa to exclude the OH and take off birthdays as scootw1 said they are not included, does that mean i have to include the money he gives me evry wekk to help with the bills? do i have to readjust all the figures to exclude him out of the soa altogether - I'm getting in a right old pickle now...............

The CAB are wrong!!

In an IVA they don't allow for Christmas/Birthdays/Holidays, but in bankruptcy they do!!

I would include the money he gives you towards the bills, yes, since on the SoA form it does ask what the OH gives as contribution

Don't worry, it is okay!

sandralovescats

Doushka wrote:

OK, here's my SOA... its long... and I know the Sky will have to come out/fit sneakily in somewhere else.

Don't know what to do about the cat expenses as I know they will be questioned.

And just so you aren't too confused, my OH pays the mortgage and half/bit more of the groceries, I try to see to everything else, thats the theory.

Looking at these numbers now, its no wonder I couldn't afford to live with this plus paying approx £800 to creditors each month (and most of them were on payment plans). Why oh why did I get myself into this much debt eh!

Expenses
Mortgage 1,020.00
Council Tax 91.00
Water 30.00
Electricity 50.00
Gas 26.00
Telephone 25.00
Mobile 5.00
TV Licence 12.00
Sky 21.00
Buildings & Contents Insurance 25.00
Burglar Alarm 12.00
Pet Insurance 120.00
Car Insurance 32.00
Road Tax 0.00 (am exempt)
RAC 10.00
Petrol 40.00
MOT & Servicing 30.00
Income Protector 0.00
Life & Critical Illness Insurance 13.00
Endowment 0.00 (on waiver)
Gym 44.00 (therapy more than anything)
Food & Toiletries 150.00
Cat Food & Litter 100.00
Dry Cleaning 10.00
Prescriptions 9.00
Clothing 25.00
Dentist/Opticians/Contact Lenses 20.00
Hairdressing 20.00
Bdays/Xmas/Hols 50.00
Incidentals 40.00

Total Outgoings 1,010.00 (excl mtge that OH pays)

Income
Total Income 1,291.00 (IB, DLA and income protection policy - boy am I glad I had the foresight to get that last one)


Surplus 281.00

Any advice or opinions gratefully received

Doushka

You think you missed a lot!! I have been out all of four hours and there are two pages of messages!

If you OH pays the mortgage then don't include it on your SoA since you are going br on your own.

You can include all the bills you pay - all the utilities - as you have done.

Apparently the OR will not allow Sky under any circumstances, so I suggest you leave that off.

Also the OR doesn't allow for pet insurance - and yours is high - I don't know how you are going to "lose" it in something else, though. Why not increase your food allowance? Also, your B/C/H is a little low, maybe you could increase that to help cover the cost of your cats?

The gym you need to put down as therapy, otherwise that will be disallowed too.

Your DLA and IB are not included in your income, so don't worry about that.

Hope this helps!

Perla

Hi I'm thinking of going bankrupt. Seriously in debt (£41k). No assets - renting, temping, mentally losing it fast, although currently - ironically - can currently make minimum payments because a) i'm only attempting to pay half of the debt back and b) this temp job pays better than ever before.

Where do I start?

Any advice really appreciated.

Perla

sandralovescats

Perla wrote:

Hi I'm thinking of going bankrupt. Seriously in debt (£41k). No assets - renting, temping, mentally losing it fast, although currently - ironically - can currently make minimum payments because a) i'm only attempting to pay half of the debt back and b) this temp job pays better than ever before.

Where do I start?

Any advice really appreciated.

Perla

First of all do an SoA, like Doushka - message above.

Work out your incomings and outgoings.

The best info is at https://www.insolvency.gov.uk

plus us, of course!

sarah_skint

hi perla, have you rung payplan or cccs?

sarah_skint

ok sandra - getting there i think - so i include his income but just deduct him from the 'household' shopping budget.
ooohh can i include hairderssing for me and 3 kids?
my telephone is 80pm as it is my landline plus 2 mobiles - should i lower it to 55 by removing OH's phone?

nice sig sandra x

sandralovescats

sarah_skint wrote:

ok sandra - getting there i think - so i include his income but just deduct him from the 'household' shopping budget.
ooohh can i include hairderssing for me and 3 kids?
my telephone is 80pm as it is my landline plus 2 mobiles - should i lower it to 55 by removing OH's phone?

nice sig sandra x

Thanks!

No, you don't include OH income, only the amount he gives you towards the bills!

Yes you include hairdressing for the 5 of you!

Yes, you need to remove OH's mobile phone!

sandralovescats

sarah_skint wrote:

hi perla, have you rung payplan or cccs?

No, phone Myvesta - they are fantastic! They got me out of a very deep big black hole!