The Bankruptcy Club & Supporters Club

milly_rhys

sorry what was that how do i find what it is u mean ? im fairly new and not great with the internet lol

sandralovescats

Click on page 7 beneath this message and you will find the IPA list.

You won't pay any money to an IPA if your sole source of income is state benefits!!

milly_rhys

i wouldnt knwo what i gambled away it went on spending on clothes , my wedding and wasting it and gambling about 100-300 2-3 times a week i couldnt work it out . yes my sole income is benefits , the sky is in my hubby's name

sandralovescats

How do you have £400 spare from state benefits? I am on state benefits and can hardly afford to breathe, never mind have any over!

sandralovescats

milly_rhys wrote:

i wouldnt knwo what i gambled away it went on spending on clothes , my wedding and wasting it and gambling about 100-300 2-3 times a week i couldnt work it out . yes my sole income is benefits , the sky is in my hubby's name

The OR will still want to know.

I am a little concerned re the amount of money you have left over after expenses. The OR might take a lot of interest because of that amount of money.
If the payment for Sky comes out of your money, then the OR will want to know about it.
Remember that they go through your bank and credit card accounts with a fine-toothed comb.

They look at the amount of money you spent in the year preceding your bankruptcy. If you made expensive purchases in that time, they want to know what they were and where they are now, etc.

They know everything!

milly_rhys

its not so much i have 400 left each month now its more that if i stick to abasic buget i will have about that left , i would have no cash for incidentals , tsometimes my son is cared for by a friend and i pay her a little . this is because i have dla for my self and my son my sons goes on his childcare mine goes on my car so i have my ctc 403 amonth
chb 69 amonth
incapacity benefit 500 a month
income support 40 amonth

i get free rent and but i pay 100 off arears i pay 5 per month on council tax

some of my incapacity and my income support is for my husband too but we pool the money together so i couldnt tell u what amount is his

can someone give me a list of things that u put on a buget i cant think

milly_rhys

ok i just used martins buget planner what a great idea it says i have £86 amonth spare

things i dont know if the courts will allow are my monthly papers costing me #£10 amonth
haircuts £20 a month
sky tv £38 a month

if they take into account my husbands things like the sky in his name but comes from our pool of money then does so much income get taken off for him ???


do they allow money for cigarettes?

what do they allow for food per person?

sandralovescats

milly_rhys wrote:

its not so much i have 400 left each month now its more that if i stick to abasic buget i will have about that left , i would have no cash for incidentals , tsometimes my son is cared for by a friend and i pay her a little . this is because i have dla for my self and my son my sons goes on his childcare mine goes on my car so i have my ctc 403 amonth
chb 69 amonth
incapacity benefit 500 a month
income support 40 amonth

i get free rent and but i pay 100 off arears i pay 5 per month on council tax

some of my incapacity and my income support is for my husband too but we pool the money together so i couldnt tell u what amount is his

can someone give me a list of things that u put on a buget i cant think

First of all, all of that money is not paid to you as an individual, you have listed for the three of you.

Secondly you will know exactly how much YOUR payments are from your paperwork sent to you by the DSS or DWP.

I have DLA and IB and IS myself, so I do know these things!

If you are going bankrupt as an individual you must be truthful about YOUR income and YOUR expenditure. So, your gas bill will be £xx divided by 2.
The OR ignores Child Benefit and is not included in the calculations, nor the DLA anyway. I don't think they include the CTC either.

So, basically, your income is calculated as YOUR Incapacity Benefit which is £78.50 per week long-term sick. Plus YOUR income support.

Then you deduct YOUR half of the outgoings.

Yes they allow for cigarettes and for hairdressing. Newspapers probably not since they are not essentials. Sky most certainly not.

Food I think is allowed at about £30 per person per week.

Now go and do your Statement of Affairs!!! It might be correct this time!

davethecue

Hi
I think Mike's going to be busy. Just said on the radio 27.500 insolvencies during the summer !! Hope he's got lots of numbers !!

Seriously though, it just proves that we are not such a minority in not controling our finances and should not be seen as 'social lepers'
The presenter reckons taht the number will have tripled by next summers's figures. Apparently a lot of br's happen after the tax year(april) so the summer quarter will be the highest

Chin up everyone. There's probably some one on YOUR street in the same predicament as us

Mike_St_Helens

davethecue wrote:

Hi
I think Mike's going to be busy. Just said on the radio 27.500 insolvencies during the summer !! Hope he's got lots of numbers !!

Seriously though, it just proves that we are not such a minority in not controling our finances and should not be seen as 'social lepers'
The presenter reckons taht the number will have tripled by next summers's figures. Apparently a lot of br's happen after the tax year(april) so the summer quarter will be the highest

Chin up everyone. There's probably some one on YOUR street in the same predicament as us

OMG ... Good job im organised with my spreadsheet !!

How are we all... 3 Days till the big day !!