Bankruptcy advice please

sundays

But would the OR accept him paying a higher percentage to allow her to repay her credit commitments. Because what if she didnt repay and hiked that money off. playing devils advocate.

Just a average add up your household expenses are approx 1500 pcm so the OR would prob divide by 2 = 750 each and what ever after 750 was left on his salary would go to the IPA so i make that at around 500 approx.

debtinfo

sundays, the way the OP has worked it out is the way the OR will work it out if the OP does not want to disclose her income.

The only possible dispute here is if the OR will allow all the expenses the OP has put down

bankrupt81

this is all really quite confusing.

The reason we dont want to do a joint bankruptcy is so that in the future at least one of us will be able to get credit if necessary or a mortgage, plus with waht i owe it can be paid off in about a year and a hlaf so i would rather try and do it myself.

The reason why we have credit cards on top of the DMP is because they were applied for after starting the DMP to pay for our wedding.
I was under the impresion that my wages wouldnt come into it at all and only my contribution to household expenses would be looked at.

Also - the amounts i entered on the expendituer were in line with what the spreadsheet found on this website under the bankruptcy advice sticky - i even entered lower numbers than the max allowance it said on there.

I dont really know what to do now as we thought he would have to pay about £400 max with the expenditure we calculated.

bankrupt81

i think i understand everyones input now - have to re-read it over and over but im there now.

Will he be able to get away with not disclosing my income and saying i dont know anything about him going bankrupt and he doesnt know how much i earn etc? A slong as it is documented that i pay half towards the household?

Also to answer soemone elses previous query about my dmp and other credit cards - i am doing it through payplan and from the start they have said i can take any creditor out of the dmp if i wanted and deal with it myself outside of the dmp so didnt think i was breaching anything. I also didnt apply for credit while doing the dmp, i used credit cards that were paid off prior to me starting the dmp so they were never part of it. Just so you know

Also - we are far from not wanting to pay into the ipo - we are happy for all of his surplus income to go into the bankruptcy we just dont see it as fair if all my wages have to be considered too as i have my own debts to worry about and pay back.

If we reduced the holidays, clothes and pet food by a bit, we would still be left with say about £450 to pay into it and think this is fine?

sundays

Have you not thought of banking the surplus and cancelling both the DMP and over time offering full and final to the debt collectors as the debts will be sold over time , time and again for peanuts, that way you wont have the BR status but have a agreed and settled payments.

i say this as you seem on the ball and capable And in the meantime treat life as a BR and be mindful of spends.

bankrupt81

Thanks for the suggestion - this is interesting and to be honest not something I have ever thought of in the months and years of worrying about how to get rid of all of this debt.

So if we cancelled the DMP's - do you mean we would not pay them anything at all each month until we have saved an amount we feel we could offer each crditor in full and final settlement? Does this not mean they will take us to court for not paying etc?

Thanks so much for all your advice!

skibadee

Try contacting CCCS for advice, I went BR 18mths ago, I can't remember if I had to disclose my OH's income or not ( will try to look for paperwork)....to be honest, its the best thing I ever did, I think you will have to remove some things from your Outgoings List ie., Holidays...I don't think they always allow for this.

bankrupt81

skibadee wrote: »

Try contacting CCCS for advice, I went BR 18mths ago, I can't remember if I had to disclose my OH's income or not ( will try to look for paperwork)....to be honest, its the best thing I ever did, I think you will have to remove some things from your Outgoings List ie., Holidays...I don't think they always allow for this.

Thanks skibadee - would be good to know from someone who has gone through it if they asked about OH income or not.

At the moment im getting myself really down with all the thinking everything through and working out figures about if we did this or that, I cant carry on like this anymore and I just dont know whats best at all.