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bankruptcy
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misty2730
Posts: 36 Forumite
hi all just a quick question if after all bills are paid (before debt)i have £500 left how much will be taken if i go bankrupt?
debts are £35000
thank u any answers will be helpfull
debts are £35000
thank u any answers will be helpfull
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Comments
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if those figures are accurate then the would take 70% for 3 yearsHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
do u add on outgoings swimming lessons, and other clubs because all i have put is the essentials no birthdays?0
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http://www.makesenseofcards.com/soacalc.html
have a go at filling this out, it should help you
are the lessons children's activities?0 -
yes and im scared i will have to tell them they will have to stop0
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misty do as confused suggested, post up your SOA and get advice from the folk here as to if its reasonable or adequate - you're not expected to live hand-to-mouth in bankruptcy, so some of the household allowances are fairly generous. This is because once you're bankrupt, you have no access to credit for years.
Once you've done your SOA, you'll have a much better idea of where you stand with any excess etc.0 -
sorry how do i put it on here lol0
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sorry how do i put it on here lol
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 410
Partners monthly income after tax....... 1550
Benefits................................ 138
Other income............................ 0
Total monthly income.................... 2098
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 410
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 40
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 8 school
Groceries etc. ......................... 600
Clothing................................ 100
Petrol/diesel........................... 120
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40 bus
Childcare/nursery....................... 20
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 16
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 30
Entertainment........................... 20
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 1768
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
all debt.......................37000.....0.........0
Total unsecured debts..........37000.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,098
Expenses (including HP & secured debts). 1,768
Available for debt repayments........... 330
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 330
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -37,000
Net Assets.............................. -37,000
[/tt]0 -
Misty, are you both going BR or just you?BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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[tt]Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 410
Partners monthly income after tax....... 1550
Benefits................................ 138
Other income............................ 0
Total monthly income.................... 2098
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 410
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 55
Gas..................................... 55
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 17
Mobile phone............................ 26 Not allowed in BR add in with landline!
TV Licence.............................. 13
Satellite/Cable TV...................... 100 Not allowed in BR - and this is very high, I only 36 a month with virgin media!
Internet Services....................... 8 Only allowed if used for work/school
Groceries etc. ......................... 600
Clothing................................ 20 Id make this more like 80
Petrol/diesel........................... 120
Road tax................................ 0 You have petrol but no road tax/insurance or MOT etc??
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 20
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 15 30
Pet insurance/vet bills................. 16
Buildings insurance..................... 0
Contents insurance...................... 16
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10 Not allowed in BR
Haircuts................................ 20 30
Entertainment........................... 20 Not allowed in BR
Holiday................................. 10 50
Emergency fund.......................... 0
Total monthly expenses.................. 1768
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
all debt.......................37000.....0.........0
Total unsecured debts..........37000.....0.........-
Monthly Budget Summary
Total monthly income.................... 2,098
Expenses (including HP & secured debts). 1,768
Available for debt repayments........... 330
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 330
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -37,000
Net Assets.............................. -37,000
[/tt]
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Added in a few pointers just based on my own SOA, others will be along shortly to help out too though im sure!
Are you and your husband both going bankrupt or is it just you?0 -
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Added in a few pointers just based on my own SOA, others will be along shortly to help out too though im sure!
Are you and your husband both going bankrupt or is it just you?
thank u for your reply it will have to be both of us, atm im still looking for alternatives to br.
for my satalite im tied into a contract for a few more months, petrol no road tax because its a company car0
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