The Bankruptcy Club & Supporters Club

sandralovescats

tammyfshr wrote:

hi
can some one help me with figures for my form for 2 adults ,18 month old and a rabbit?
also if we are both on benifits will it matter if we have a surplus as the or cant ask for any money?its just that i think there will be a surplus but that was being used up each month with dedt repayments.
thanks

From the OR Manual -

An IPA should not be sought the effect of which would be to reduce the income of the bankrupt below the level considered adequate to meet the reasonable domestic needs of the bankrupt and his/her family

NB: If the bankrupt’s main, or only, source of income is state benefits then an IPA should not be sought.


You should have no problem in having a surplus, don't worry about it.

sandralovescats

scootw1 wrote:

Between £100-£200

Hi Scoot,

Have you included absolutely everything you can think of in your SoA?

scootw1

I think so. if you look at page 40 of the forum you will see the SOA I am putting down on the forms. If you think there is something I've missed please let me know.

£100 - £200 is what I think will be left after the fees and normal expenses are taken out but that isn't what my surplus will be every month

sandralovescats

scootw1 wrote:

I think so. if you look at page 40 of the forum you will see the SOA I am putting down on the forms. If you think there is something I've missed please let me know.

£100 - £200 is what I think will be left after the fees and normal expenses are taken out but that isn't what my surplus will be every month

When you do your average surplus over, say, the last 12 months, what is that figure ?

scootw1

sandralovescats wrote:

When you do your average surplus over, say, the last 12 months, what is that figure ?

I've had no surplus. I've been in an IVA. but the IVA figure was £507 so that's the surplus they said I had. of course, I know now that that is incorrect. The figure of cash in hand is going to be different I suppose because of the fees and Christmas.

I have thought about my SOA again since and I think maybe some figures are a bit high. Clothing for instance, was £50 on the IVA but I'm not sure if I can just use the same figure for BR. Doesn't hurt to try I suppose.

sandralovescats

scootw1 wrote:

I've had no surplus. I've been in an IVA. but the IVA figure was £507 so that's the surplus they said I had. of course, I know now that that is incorrect. The figure of cash in hand is going to be different I suppose because of the fees and Christmas.

I have thought about my SOA again since and I think maybe some figures are a bit high. Clothing for instance, was £50 on the IVA but I'm not sure if I can just use the same figure for BR. Doesn't hurt to try I suppose.

Scoot, the figure per adult on the OR Manual states £40 per month as a guideline. You could always leave it as the £50 and if your OR doesn't agree it will be lowered.

scootw1

sandralovescats wrote:

Scoot, the figure per adult on the OR Manual states £40 per month as a guideline. You could always leave it as the £50 and if your OR doesn't agree it will be lowered.

What I'll do is put down the figures as they are and if they are too high I'm sure the clerk in the court will change them.

I'll put down £100 as cash in hand to make sure I have enough to keep me going and if they ask any questions I will just say living expenses.

sandralovescats

scootw1 wrote:

What I'll do is put down the figures as they are and if they are too high I'm sure the clerk in the court will change them.

I'll put down £100 as cash in hand to make sure I have enough to keep me going and if they ask any questions I will just say living expenses.

It is not usually the Clerk at Court who will alter the figures, it will be the OR when you have your interview.

I wouldn't worry about it, you seem to be doing just fine!

sandralovescats

Brokeandbothered wrote:

Hi everyone! Thanks for all your posts, you have been helping keep my head on!
My statement of affairs looks terrible - I seem really well off!!! The thing is, my expenditure with my debts has been about £250 per month more than my incomings, but take the debts out and I have a tasty surplus!
Below, I've put my soa. My partner and I go halves on the bills, so I have put the full amounts for bills, and included the money he pays into the total amount available. Then all other expenses like food and petrol ae just mine. I hope that makes sense!

My wages: £1048
OH's input for bills: £420
Total monthly available: £1468.

rent - 425
council tax - 78 ( will go up on next bill but haven't had it yet)
elec - 120 (the joy of storage heaters!)
sky - 52
phone + internet - 30
life ins - 13.50
car ins - 24
water - 30
petrol - 150
food - 140
clothing - 40
m.o.t/tax/service - 41
pets - 30
mobile phone - 20
house ins - 17
t.v license - 11

total - £1221
surplus - £249!!

I know the sky tv will be found excessive, but we never EVER go out. I cut my own hair, I don't go to the dentist. I haven't been able to afford things like that for years! The tv is our only source of entertainment as I'm sure it is for loads of people! £240 surplus is huge isn't it?

I hate to have to tell you this but Sky is NOT allowed as an expense - the OR will simply not have it.

It would have to come out of your own "surplus" after any IPA is paid. Sorry!

However, it seems very expensive to me, could you not phone Sky and try to get the figure down?

Also, you need to "lose" the £30 for pets in something else - the OR will disallow it. I am an animal lover myself and I think that the ruling on pets is very wrong, but they are removing pet details and pet insurance from SoA allowances. Why not add the £30 to your food bill, just so that it is not listed separately? When will they realise that for most of us pets are part of the family - even if it is rat! I have a friend who keeps rats in her living room! She adores them!


I know that you have probably not had a holiday due to your expenses but you are allowed to claim for such, even if you haven't had one in years -

From the OR Manual

"As far as holidays are concerned, it is accepted that a bankrupt is entitled to a break from routine and some allowance may be made for a modest holiday. Luxury foreign holidays would be likely to upset creditors but an allowance for a cheap holiday of £60 - £80 per month, which would amount to £720 - £960 p.a., would seem reasonable for a family of four. Any extra would then have to be funded out of surplus income."

scootw1

sandralovescats wrote:

It is not usually the Clerk at Court who will alter the figures, it will be the OR when you have your interview.

I wouldn't worry about it, you seem to be doing just fine!

Thanks Sandra. I talked to a friend of mine on Saturday who went BR and he said the clerk in the court altered his figures. Maybe different in som ecourts perhaps?