The Bankruptcy Club & Supporters Club

sandralovescats

No Doushka, don't try to balance the books!

The OR will know about your other income but it is disregarded for the IPA calculation!

£200 per month for food is fine!

The B/C/H is fine at £50 too! (Glad you worked that one out!)

sandralovescats

Just want to share something with you

My telephone has not rung once in TWO whole days!!!!! There must be something wrong with the phoneline, I hear you say? No, the phoneline is perfectly fine. So, what has happened to create this miracle????

Myvesta - Alison - spoke to all of my creditors, all 14 of them, bless her cotton socks, on Thursday, and peace has reigned in the house ever since. I don't know what she said to them but it has actually worked. :T

Myvesta :iloveyou:

Shush :shhh: ......they might just be lulling me into a false sense of security - what if they restart tomorrow at 8.30a.m.??????

Hopefully not!! But we shall see!!

Right now I am enjoying the peace and quiet, with two cats on my knee - at last I can hear them purring.............

It is all quite angelic :A

Cumbrian_Male

sarah_skint wrote:

cumbrain male - how much debt are we tal;king on filing for br? As you own your home is there any equity in it?
I feel that i am not that clued up on this sort of question please post your answers though - as someone else should be able to answer it better than me
Sarah

Debt circa £33500

Equity (as a guess house was valued for remortgage 2 yrs ago) £92000

don't think BR is the right option for us. I want to pay it all back, but 1 creditor won't accept the DMP payment.

on a plus note been speaking to my boss who asked HR / Employee Relations and in the circumstances a CCJ won't cost me my job, work in credit industry.

Will post SOA on DFW and investigate IVA vs Admin Order.

Doushka

sandralovescats wrote:

No Doushka, don't try to balance the books!

The OR will know about your other income but it is disregarded for the IPA calculation!

£200 per month for food is fine!

The B/C/H is fine at £50 too! (Glad you worked that one out!)

Thanks Sandra

AND... fab news about the phone calls (or lack of them)... sounds like you came up trumps with your myvesta person

Richard_S

sandralovescats wrote:

Doushka - Pensions

Yes they do take your pension (private not State) and your Endowment Policies, I am sorry to say.

Hi Sandra,

The OR told us that the only circumstances they would take pension funds was in the event that large sums of money had been deposited in the run up to bankruptcy as a means of "frustrating" creditors. Under any other circumstances the OR would have no interest in a pension fund.

Agree with endowments though, they're fair game.

Rich

sandralovescats

Richard_S wrote:

Hi Sandra,

The OR told us that the only circumstances they would take pension funds was in the event that large sums of money had been deposited in the run up to bankruptcy as a means of "frustrating" creditors. Under any other circumstances the OR would have no interest in a pension fund.

Agree with endowments though, they're fair game.

Rich

I am sorry to have to tell you Richard that that is not true.

The OR can and WILL take any amount of money from a private pension scheme.

The piece I posted in blue was not out of my own imagination, it is from the insolvency service website.

Also, the way the OR works also depends on the particular OR in question!!

I know people whom lost basic private pensions through the OR, no questions asked, were just told to surrender the details, and it was done - they had not put a lot of money into the account prior to br either - two of them were only worth £5000 and £7000 respectively.

It is better to be circumspect in these matters.

sandralovescats

Cumbrian_Male wrote:

Debt circa £33500

Equity (as a guess house was valued for remortgage 2 yrs ago) £92000

don't think BR is the right option for us. I want to pay it all back, but 1 creditor won't accept the DMP payment.

on a plus note been speaking to my boss who asked HR / Employee Relations and in the circumstances a CCJ won't cost me my job, work in credit industry.

Will post SOA on DFW and investigate IVA vs Admin Order.

You would be better off doing an IVA by a long way - although they do still ask if you could release some of the equity in your home, by remortgaging, etc.

bizzylizzy

OK (deep breath)

I am filling out br forms (for me and OH) and I have questions about 1 of the sections.
Section 7 Outgoings.
Housekeeping - when I spoke to CCCS they told me to put £120 per person. Then I spoke to a company (rec by CCCS) who specialise in IVAs and they said £150 per person. As we have been living extremely frugally for ages while trying to pay our creditors, I don't know what a reasonable amount is! I don't want to under or overdo it.

Phone charges -Our landline is approx £37 and 2 mobiles are £10 each but is £57 too much?

Clothing- CCCs said £43 for 3 of us, what do you think?

What to include in "other essentials"?

Sorry for all the questions, probably more to come!

sandralovescats

bizzylizzy wrote:

OK (deep breath)

I am filling out br forms (for me and OH) and I have questions about 1 of the sections.
Section 7 Outgoings.
Housekeeping - when I spoke to CCCS they told me to put £120 per person. Then I spoke to a company (rec by CCCS) who specialise in IVAs and they said £150 per person. As we have been living extremely frugally for ages while trying to pay our creditors, I don't know what a reasonable amount is! I don't want to under or overdo it.

Phone charges -Our landline is approx £37 and 2 mobiles are £10 each but is £57 too much?

Clothing- CCCs said £43 for 3 of us, what do you think?What to include in "other essentials"?

Sorry for all the questions, probably more to come!

Clothing+Shoes is usually £40 per person - £43 for 3 is way too low.

Your landline seems expensive to me, what are you paying for? The OR might query it, but if it includes Internet I would list the Broadband separately.

If CCCS say £120 per person per month for food, then use that figure! It seems reasonable to me, after all you have to buy all the household product with that - for laundry, washing, etc.

Add £60 per month for incidentals to.

Other essentials could be anything that you have to pay for -

Birthdays/Holidays/Christmas - at least £60 per month

hairdressing
dental
optical
dry cleaning
insurances for whatever


Hope this helps!

bizzylizzy

sandralovescats wrote:

Clothing+Shoes is usually £40 per person - £43 for 3 is way too low.

Your landline seems expensive to me, what are you paying for? The OR might query it, but if it includes Internet I would list the Broadband separately.

If CCCS say £120 per person per month for food, then use that figure! It seems reasonable to me, after all you have to buy all the household product with that - for laundry, washing, etc.

Add £60 per month for incidentals to.

Other essentials could be anything that you have to pay for -

Birthdays/Holidays/Christmas - at least £60 per month

hairdressing
dental
optical
dry cleaning
insurances for whatever


Hope this helps!

Yes it ALL helps! Just having this thread here helps enormously! There's no one else to ask and I'm getting really stressed about the whole thing.

So I can put £120 a month for clothing and shoes for 3 of us?

The phone is £12 for rental/line and the calls come to about £20 - £25 a month. That doesn't include broadband.

Do you mean add £60 to the £120 each (i.e. £360) for housekeeping? Or does incidentals come somewhere else?

Sorry if I'm being thick!