Please check my SOA

feelsolow

I have an appointment with the CAB at 10.30am, can someone please look over my proposed SOA.

If recommended I would be looking to going bankrupt before the 1st Dec (my local court offers a walk in centre) would this mean that I would recieve an IPA based on the £99 suplus and % or as the OR interview would be after 1st December I would recieve and IPA on all surplus over £20?

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned....................... 1

Monthly Income Details
Monthly income after tax................ 1235
Partners monthly income after tax.......0
Benefits.............................................981
Other income..................................... 0
Total monthly income.....................2126

Monthly Expense Details
Mortgage.......................................... ............ 0
Secured/HP loan repayments......................... 0
Rent.............................................. ............ 500
Management charge (leasehold property)....... 0
Council tax............................................... ... 100
Electricity....................................... ............. 60
Gas............................................... ............... 60
Oil............................................... ................. 0
Water rates............................................. ...... 40
Telephone (land line).................................... 60
Mobile phone............................................. ... 0
TV Licence........................................... ........ 12
Satellite/Cable TV.......................................... 0
Internet Services.......................................... . 0
Groceries etc. .............................................. 300
Clothing.......................................... .............. 80
Petrol/diesel............................................ ..... 160
Road tax............................................... ........ 15
Car Insurance......................................... ...... 45
Car maintenance (including MOT).................... 30
Car parking........................................... .......... 0
Other travel............................................ ........ 0
Childcare/nursery........................................... 440
Other child related expenses............................ 20
Medical (prescriptions, dentist etc)................. 20
Pet insurance/vet bills..................................... 0
Buildings insurance......................................... . 0
Contents insurance......................................... . 20
Life assurance ................................................ 0
Other insurance......................................... ...... 0
Presents (birthday, christmas etc).................... 0
Haircuts.......................................... ............... 15
Entertainment..................................... ............ 0
Holiday........................................... ............... 20
Emergency fund.............................................. 0
Dry Cleaning....................................................20
Total monthly expenses.......................................2017

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

Debts
Description....................Debt......Monthly.. .APR
Various.........................17000.....0House Repossession.........1...........0
Total debts...................17001
Mortgage Company have not contacted me about shortfall yet but I have seen that the property was sold for at least 40k less than the Mortgage value


Monthly Budget Summary
Total monthly income............................. 2216
Expenses (including HP & secured debts). 2017
Available for debt repayments................. 199

Thank You

feelsolow

tigerfeet2006

Up holiday to £50 and drop dry cleaning to £10. Single person usually only allowed £50 for telephone but leave it as it is and see what happens, you never know.

You should fall under the old rules as you are going BR before the 1st.

feelsolow

Thank You.

I'm at the CAB now waiting to be seen, very nervous but apparently the man I'm seeing is really good. Just hope he's not mean, can't believe I'm 26 and scared. Just want to cry.

feelsolow

I've just come out and are pretty confused now, the man who I saw did say that bankruptcy seemed like the most practical option and agreed with most of my SOA. However he is sure that the £20 surplus will come into effect with any OR interviews after the 1st Dec regardless of when you are made br. If this is the case then I don't want to rush trying to get everything sorted for next Monday / Tuesday and trying to book some emergency holiday at work which they don't like. Can anyone please advise if what the CAB said is correct.

pauleenbruce

I thought it was for br after 1st december. but bumping you up till someone more appropriate comes along

feelsolow

Thanks Pauleenbruce. I think there has been no response because no one is sure, the person that I spoke to at the CAB said that their reasoning behind believing it was the OR date that way key with the new rules rather than the br date is that the OR sets the IPA and it is their decision a your br date is simply a date of judgement which has no impact on whether or not an IPA is enforced. I might have been told a load of rubbish but it's a but concerning if the new rules and timelines have been left to personal interpretation.

confused76

it is all a little unclear right now...there is a thread in IPAs right at the top of the br board i'm not sure if you have seen it

pauleenbruce

I have to get in touch with my OR on monday with my new wages and so will be getting an IPA i could always ask there interpretation of the new ruling [if i'm feeling brave enough as i always get nervous when talking to them]. will let you know what happens

Windsurf

Hi,

I would go ahead with the Bankruptcy as you seem a bit down over the whole situation. By going bankrupt before the 1st at least you have a chance of qualifying for the old rules after 1st it looks you would be under the new rules for sure.

As for work, I feel a sicky coming on lol...;)

jetr77

Hi Im going to court tomorrow and wondered the same thing about the new IPA thing, not sure if it applies from the date of bankruptcy or the OR interview. Getting very nervous for tomorrow.