HELP!!.....Worried........

sandralovescats

£800 mth wages, out of that i pay

£450 rent
£22 mth phone (10 mth left)
£150 mth petrol to get to work ( i work nights there are no buses)
£100 gp
£78 pound towards food bill for a family of 5

If you are going bankrupt singly and your wife is working you cannot include ALL your rent in your half of the equation.

Your outgoings should read -

Rent £225
Phone £11
Petrol £150
GP £100
£130 Food - needs to be the amount for half of five of you!
£ ?? Insurance - half
£60 Utilites - half
£50 Clothing - an amount for yourself + 50% of 3 children
£40 Shoes as above
£10 Dental fees

The £78 you quoted for your half of the food bill is not enough! That means £156 per month for five people. You need to be upping that to £260 per month for 5 - 50% = £130 per month on the SoA.

Does this make sense to you now?

broke_and_no_joke

i figures i put down is what happens to my money, £75 a put towards the shopping the wifes pays the rest it comes to around £120 week, given the figures you shown me, to the creditors it looks like i"ve got loads left..i"m still confused...thanks for your responses.

sandralovescats

broke_and_no_joke wrote:

i figures i put down is what happens to my money, £75 a put towards the shopping the wifes pays the rest it comes to around £120 week, given the figures you shown me, to the creditors it looks like i"ve got loads left..i"m still confused...thanks for your responses.

In your original SoA you put £75 per month towards food.

So, you are saying it is £75 per week? That is fine.

You put the total for food as £300 per month. Just change it.


Rent £225
Phone £11
Petrol £150
£300 Food - needs to be the amount for half of five of you!
£ ?? Insurance - half
£60 Utilites - half
£50 Clothing - an amount for yourself + 50% of 3 children
£40 Shoes as above
£10 Dental fees


You are trying to avoid having an IPA landed on you - if you are going the bankruptcy route, that is.

How much in total are you utility bills. NOT what you pay - you need to claim for 50% of the total of the household utility bills.

You are not trying to rip anybody off by doing this, simply putting together an outline of how much it costs for you to live and to support your family.

What else do you have to pay for? Is there anything else you can think of? You mentioned that your wife pays the car finance - is the car in your wife's name or yours? If it is in your name you have to declare it to the OR in an SoA.

Take a look at the forms at https://www.insolvency.gov.uk

I have removed the £100 payment to GP since that will go in a bankruptcy anyway.

sandralovescats

If you are going to go bankrupt you need a separate bank account from your wife's account.

Do you get any working tax credits? If you do these also need to be declared, but not child benefits.

broke_and_no_joke

what is "ipa"...thanks

Mike_St_Helens

broke_and_no_joke wrote:

what is "ipa"...thanks

An IPA is when you pay your bankruptcy estate your surplus income...Its all in the websitre I gave you earlier.

broke_and_no_joke

we get around £450 a mth working tax and tax credit, i will ring them to find out what i get, so are you saying i have to include all my wifes wages etc in my soa?..if thats the case we have around £1800 per mth going in our account, do i just half everthing except the £240 mth car payment which is in my wifes name....thanks again

sandralovescats

No, you quote your own £800 per month income and none of your wife's.

The OR will take all of the tax credits as yours. We had this question on here last week - you could go back and find the messages about this.

Perhaps you should make an appointment with the CAB so that they can do an SoA for you - to enable you to complete the SoA for your bankruptcy.