The Bankruptcy Club & Supporters Club

sandralovescats

bizzylizzy wrote:

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!

Yes £120 per month for the three of you per month

No, list the Birthdays/Christmas/Holidays at £60 per month as B/C/H separately - it IS allowed in br but not in IVA.

You can save money on your telephone bill - not for the OR's benefit but for your own pocket.

BT Together Option 3 is £25 per month full stop. It includes free calls 24/7 to ANY UK landline. You can save yourself a lot of money!

Their BT Together Option 2 is free Evening & Weekend Calls for £11 per month.

severussnape

hi there

if you get the top broadband from Bt then you get a broadband phone which is totally free to use.
we have it as we download lots of stuff but only have option 1 on the phone as we rarely use it now we have the free phone.

flis21

Hi everyone,

Am having a bit of a play around with our SOA (I am doing a joint one, is that ok if we are going BR at the same time?) Anyway, how much should I put down for food for 2 adults? and can I include the expenses for our pet rabbit (straw, food, vets fees etc.).

Will post SOA when I have finished for your expert comments!

sandralovescats

flis21 wrote:

Hi everyone,

Am having a bit of a play around with our SOA (I am doing a joint one, is that ok if we are going BR at the same time?) Anyway, how much should I put down for food for 2 adults? and can I include the expenses for our pet rabbit (straw, food, vets fees etc.).

Will post SOA when I have finished for your expert comments!

For food and housekeeping probably at least £40 per person per week, so £320 per month for two.

yes you can include ANY pets!

flis21

Right, here we go then... this is a joint SOA for 2 of us.


Rent 650
Council Tax 109
Water (incoming) 16.82
Water (outgoing) 14.5
Gas & Electric 75
Mobile 10
BT Phone & Internet 45
TV Licence 12
Contents Insurance 14
Rabbit Expenses 15
Train to work 45.4
Bus fares 20
Gym (for med reasons) 52
Food, Drink & Toiletries 320
Prescriptions 14
Dentist 10
Opticians/Contact lenses 18
Hairdressing 20
Dry Cleaning 10
Holiday Allowance 40
Clothes & Shoes Allowance 60
Birthdays 20
Christmas 20
Incidentals 40


Total: 1650.72

Our income is around £2000

So have 349.28 left over for the IPO.

Have I been too cheeky in any areas? I have tried reading through this thread and getting as many ideas as I can. I really want us to get a budget that we can live within, it will be so wierd living within our means and not on credit!

sandralovescats

flis21 it looks okay to me.

However, you will have to do individual SoA's and complete individual SoA forms online, so you will have to split the utilities, etc.

That would be better, actually, then you can claim more!

So, claim your holidays, Christmas and Birthdays for the same figures but each. Claim dry-cleaning each. Hairdressing each, etc.

Incidentals I would claim £50 per month each too.

Also, would claim £200 each for food, that takes in the bunny!

The idea is that you don't get into any problems with debt in the future - so the OR will make sure that you have sufficient money to live on , and have a relatively normal life. Holidays are allowed, but not vastly expensive holidays.

This might help?

flis21

Thanks Sandra, it is all so scary and I just want to make sure we have enough, without taking the p1ss!

Holidays, I don't want an expensive one, was thinking of 4-5 days in a B&B in Paris next year, we can get cheap train travel over there and just spend days wandering around the city, hopefully without spending too much.

To be honest the only really expensive holiday we have ever been on was our honeymoon and that was over 2 years ago now.

Looks like we may be able to claim a bit more splitting it up as well, so maybe we won't have to pay too much IPO. It seems ridiculous when they were trying to make us pay over £700 on our IVA!!

sandralovescats

flis21 wrote:

Thanks Sandra, it is all so scary and I just want to make sure we have enough, without taking the p1ss!

Holidays, I don't want an expensive one, was thinking of 4-5 days in a B&B in Paris next year, we can get cheap train travel over there and just spend days wandering around the city, hopefully without spending too much.

To be honest the only really expensive holiday we have ever been on was our honeymoon and that was over 2 years ago now.

Looks like we may be able to claim a bit more splitting it up as well, so maybe we won't have to pay too much IPO. It seems ridiculous when they were trying to make us pay over £700 on our IVA!!

Yes but that is the way IVA's work!

Emid_3

Hello All

I've been reading this thread over the past couple of days, and have learned so much already (even though I'm only on page 35!) - so first of all, thanks to all of you for your useful advice & opinions.

I'd like to ask some questions about bankruptcy, as although I'm almost certain it's the right thing for me, there's a few points I'm concerned about.

Before I continue waffling on, some info about me: I'm 27, married with 10-month old daughter, renting (privately), am currently a stay-at-home mum & have unsecured debts of £40k+ (loans, overdrafts, unpaid bills etc - mostly taken out when I moved in with other half 6 years ago). Due to various work / health problems I haven't had a sufficient income to repay the majority of these for at least 3 years, and have 2 big binders full of threatening letters :eek: I also have student loan debts of at least £12k (though I know these can't be taken into account during bankruptcy).
The only income I have currently is through CTC (£54-ish pw), & Child Benefit (£17.45 pw). My husband is currently claiming Income Support (tho it's actually through Incapacity Benefit) on behalf of both of us, & we receive approx. £90 per week. We also get Housing Benefit (paid straight to landlord), & Council Tax Benefit.

Questions:
* What do I put down as 'my' income, seeing as the Income Support / Housing Benefit / Council Tax Benefit claims are all in my husband's name, on behalf of both of us?

* Will the OR want to see info regarding Husband's income for past / present?

* I have a car worth approx. £1000 (Parkers). It was bought with Husband's student loan money earlier this year, but the SL money was paid into / withdrawn from our joint bank account. The car is technically his, but I probably have the most use from it, & am listed as the registered keeper on the V5 (as I picked it up when it was bought). Also, I am starting Full Time education in January, and need the car to take my daughter to nursery 5 miles away / get to college - I'm really concerned that the OR would take the car away, as it would basically force me to give up college (there's no way I could do it on public transport). Is this likely to happen?

* My PC isn't anything special (£600 new 2 years ago), & is jointly owned with my husband. I also need it for college work, etc. Is the OR likely to have an interest in it?

* Does anyone know if being bankrupt can prevent you from becoming / working as a nurse? I'm assuming it's unlikely, but thought I'd better check before I apply for bankruptcy & start training!

Thanks for all your help :A , & good luck to any of you with upcoming BR Court dates.
Emily.

sarah_skint

emid are you the onlt one going br?
put down your income, ctc, cb not sure of others - someone else will help!

no it will not prevent you being a nurse, the or is only interested in things of a higher value.

if you are going br on your own - make sure you get a copy of your credit file from all 3 credit ref agencies - that way you know all off your debts then, also it will enable you to sever any financial assosiation with your oh, had confirmation of mine yesterday woohoo
a big fat 10 days til my br date!

if only u going br he should have no interest in your oh