please check my SOA prior to BR

dryliner1

hi my petrol was 600.00 a month and wasnt questioned as i work all over.280.00 amonth at the moment is nothing with the price of fuel

magicred wrote: »

I am here looking for advice and guidance - you know nothing about my circumstances so maybe should not be so judgemental. And yes, my oil is £100 a month and yes, my petrol is £280 (at least) a month.
I shall continue to manage without looking here for support.

silvercar

magicred wrote: »

I have no tuition fee loan - I pay each month out of my salary.

That's fine if you are not eligible for the tuition fee loan. If you are eligible you might very well be expected to take it. The logic is that if you took what you were entitled to claim, you would have more money left over each month to pay back your creditors.

I know that it can seem illogical to take on more debt to repay existing debt, but student loans are looked on as "good debts" in that the interest rate is low and repayment is only required when your income a reaches certain level.

boodebt

Why are peoples soa in this format but the actual bankruptcy forms have hardly any space to put all the outgoings down, just rent gas electric, groceries and council tax do I have to take or fill in something similar to the above format?

Thanks in advance as slightly confused...

intranicity

boodebt wrote: »

Why are peoples soa in this format but the actual bankruptcy forms have hardly any space to put all the outgoings down, just rent gas electric, groceries and council tax do I have to take or fill in something similar to the above format?

Thanks in advance as slightly confused...

I think it's because the Bankruptcy forms are to list your essentials that you need to live on, not the things that you'd like to have if you hadn't gone bankrupt

HateBanks

boodebt wrote: »

Why are peoples soa in this format but the actual bankruptcy forms have hardly any space to put all the outgoings down, just rent gas electric, groceries and council tax do I have to take or fill in something similar to the above format?

Thanks in advance as slightly confused...

There is a section on BR forms, I think its 'other essential outgoings' which is where you details your other stuff:
TV licence
House insurance
Car expenses MOT/service/breakdown etc
Haircuts
Prescriptions
Pet insurance
and any other expenses you find essential to go on with 'life', and yes, I believe you are allowed a 'life' after bankruptcy, just a more organised and carefully budgeted one!
I have OR interview tomorrow, and am terrified, but I believe he discusses all expenses with BR and you decide together what is and isnt 'essential'.

(And as OPs elec is only £30, and have no gas, I would say £100 on oil is fairly reasonable, we spend £90 each on gas and elec!)

Good luck.

intranicity

HateBanks wrote: »

(And as OPs elec is only £30, and have no gas, I would say £100 on oil is fairly reasonable, we spend £90 each on gas and elec!

Fair enough, I must be far to frugal, or maybe I don't feel the cold, only questioned as I have a 2 bed house and pay £45 a month for Gas and Electric.

Sounds like they are starting to really crack down on BR's though, I think it's way to draconian by the way, I hope people get more to live on than this article sudgests

http://www.guardian.co.uk/money/2011/mar/19/bankruptcy-life-after-debt

Ineedaname

Regarding the SOA on BR forms, I just put "see additional sheet attached to Section 13" on mine and printed off my own income/expenditure form. Mainly because I receive DLA and have so many additional expenses related to that it wouldn't have been feasible to list them all in the space provided.

I think others have done this too and it has been fine with the Court and the OR. Just make sure you put your full name and National Insurance number on the additional sheet and then sign and date it the same as your Court docs.

HateBanks

Post 68 in this thread: https://forums.moneysavingexpert.com/discussion/1056083
gives some guidelines on what one is allowed to claim, obviously these are guidelines, and you should only claim what you need to claim, but quoting from the Insolvency Service notes "It is important to remember that it is the reasonable domestic needs of the bankrupt and his/her family that need to be considered, [Note 1] not just their basic domestic needs"
This whole document is an interesting read if you have time: http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/part2/part_2.htm#31.7.23

tigerfeet2006

magicred wrote: »

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.................... 1
Monthly Income Details
Monthly income after tax................ 1790
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1790
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 103
Electricity............................. 30
Gas..................................... 0
Oil..................................... 100
Water rates............................. 10
Telephone (land line)................... 30
Mobile phone............................ 35 put with landline but be prepared for the OR to cut to around £50 for phones.
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 220 max £200
Clothing................................ 40
Petrol/diesel........................... 280 start keeping reciepts just incase you are asked for proof of the amount you spend
Road tax................................ 10
Car Insurance........................... 31
Car maintenance (including MOT)......... 22 £40
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 34 £20
Pet insurance/vet bills................. 25
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 50 the OR may cut this to around £30ish
Emergency fund.......................... 10
MSc..................................... 150
professional fees....................... 7
Total monthly expenses.................. 1689

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2300
Other assets............................ 0
Total Assets............................ 2300

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................7000......0.........0
credit card....................13000.....0.........0
credit card....................11000.....0.........0
credit card....................9000......0.........0
Total unsecured debts..........40000.....0.........-

Monthly Budget Summary
Total monthly income.................... 1,790
Expenses (including HP & secured debts). 1,689
Available for debt repayments........... 101
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 101
Personal Balance Sheet Summary
Total assets (things you own)........... 2,300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -40,000
Net Assets.............................. -37,700


I have never been able to get a haircut for £10 but understand I may only claim this amount. I am doing a degree and financing this myself; I hope they won't make me stop this.

thank you all.

Do you have breakdown cover? If not have a look on Topcashback or Quidco and get yourself some. Do you where suits for work? If so try £10/15 on dry cleaning.