Bankrupcy contribution question help..... (SOA now included)

Davey_Boy1

Good afternoon all, just joined so please be gentle!!

I think I am going down the bankrupcy route-I am just swamped and after advice from various organisations, its the best available plan for me.

One question I do have is how much does the officer take from your wages? Basically I take home £1800 a month, and my "must" outgoings are £1295 a month (includes the fiances car insurance and running costs, but not food, clothing, or haircuts), leaving circa £505 "spare" although it never seems spare....how much and for how long would he take?

Thanks all.

Dave

fermi

Davey_Boy1 wrote: »

my "must" outgoings are £1295 a month (includes the fiances car insurance and running costs, but not food, clothing, or haircuts), leaving circa £505 "spare" although it never seems spare....how much and for how long would he take?

I can't imagine they are going to let you include you fiancees car insurance on your SOA. At least, not allow it when they calculate your surplus income anyway.

Why not include food, haircuts etc? You obviously can include those.

Please post up your SOA so we can work things out.

Useful calculator here: http://www.makesenseofcards.com/soacalc.html

Davey_Boy1

Ok, here it is. I am at work at the moment so there maybe a odd item missing that I cant remember. Please note that there are no expenses for cars as I have a company car and fuel. The utility bills also include the arrears payments.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1810
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1810
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 272
Rent.................................... 575
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 106
Gas..................................... 86
Oil..................................... 0
Water rates............................. 56
Telephone (land line)................... 21
Mobile phone............................ 45
TV Licence.............................. 11
Satellite/Cable TV...................... 19
Internet Services....................... 7
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7.2
Pet insurance/vet bills................. 67
Buildings insurance..................... 0
Contents insurance...................... 36
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 9
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1742.2

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 8500.....(272)......29.9
Total secured & HP debts...... 8500......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit cards...................1850......95........39.9
Store accounts.................1200......120.......34.9
CCJs...........................9000......77.6......0
Total unsecured debts..........12050.....292.6.....-

Monthly Budget Summary
Total monthly income.................... 1,810
Expenses (including HP & secured debts). 1,742.2
Available for debt repayments........... 67.8
Monthly UNsecured debt repayments....... 292.6
Amount short for making debt repayments. -224.8
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -8,500
Total Unsecured debt.................... -12,050
Net Assets.............................. -20,550

Davey_Boy1

Oh, and somewhere out there is a £70000 debt to the mortgage company. I had a house repossesed 4 years ago, and it was auctioned for £70000 less than the mortgage owing-but I have never heard a thing since????? However, I am sure it will appear at some point.

fermi

I'm useless at dissecting SOAs , but I'm sure others will be along soon to help with that.

If/when you do eventually get an idea of what surplus income you might have, then the OR will look to take between 50 to 70 % of that.

Works on a sliding scale with these bands:

dojoman

Davey_Boy1 wrote: »

Ok, here it is. I am at work at the moment so there maybe a odd item missing that I cant remember. Please note that there are no expenses for cars as I have a company car and fuel. The utility bills also include the arrears payments.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1810
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1810
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 272
Rent.................................... 575
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 106 SEEMS HIGH
Gas..................................... 86 DITTO
Oil..................................... 0
Water rates............................. 56
Telephone (land line)................... 21 £60 INC MOBILE
Mobile phone............................ 45
TV Licence.............................. 11
Satellite/Cable TV...................... 19 NOT ALLOWED WOULD HAVE TO COME OUT OF SURPLUS
Internet Services....................... 7 NEEDS TO BE FOR WORK/STUDY
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7.2
Pet insurance/vet bills................. 67 £30
Buildings insurance..................... 0
Contents insurance...................... 36
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30 NOT ALLOWED
Haircuts................................ 9 £10
Entertainment........................... 0
Holiday................................. 0 £30
Emergency fund.......................... 0
Total monthly expenses.................. 1742.2

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 8500.....(272)......29.9
Total secured & HP debts...... 8500......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Credit cards...................1850......95........39.9
Store accounts.................1200......120.......34.9
CCJs...........................9000......77.6......0
Total unsecured debts..........12050.....292.6.....-

Monthly Budget Summary
Total monthly income.................... 1,810
Expenses (including HP & secured debts). 1,742.2
Available for debt repayments........... 67.8
Monthly UNsecured debt repayments....... 292.6
Amount short for making debt repayments. -224.8
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -8,500
Total Unsecured debt.................... -12,050
Net Assets.............................. -20,550

Hope this helps?

Davey_Boy1

It does help-thank you.

Elec and gas very high due to arrears.

And pet insurance is high as well-he is very old and has had some claims (£6k in total so the really load it).

Sky Tv can come out-its rubbish anyway and all I watch is channels 1-5. I do use the internet for work-I sometimes work at weekends and at home in the week.

JCS1

What does the secured loan/HP repayment relate to? and the HP amount of £8,500? I

debtinfo

BTW, are you living with your fiance

ascot64

Also the arrears on your utility bills will go into the BR. You just need current costs included on the SOA.