Hello Everyone

Steve_C_4

Hi Everyone,

Both me and my wife need to petition for Bankruptcy.

We went to our local Cab office, they gave us some information, and suggested this forum to ask any questions.

They are extremely busy and if it is ok would it be alright to ask a few questions as we prepare all the paperwork.

Many Thanks,

Steve

Depth_Charge

Hi

Plenty of good information here to start with -

https://forums.moneysavingexpert.com/discussion/1056083

Steve_C_4

Yes, thanks, we are having a good read through it all.


Steve

debtinfo

yes feel free to ask anything you need

Steve_C_4

Thanks so much debtinfo.

We've got the forms - and I think we need 3 sets each to be completed.

Also the fees will be £525 plus £175 for the court fees. It will take a while to save this up.

I think the CAB mentioned they may increase.

But in the meantime we really do want to have everything fully prepared.

The more you "face up" to the whole thing - it seems to get a bit easier.

On looking at the forms - it's Section 7 that really confuses us.

We are not sure if we "split" the costs that we pay.

Or do we just put in the costs that we each pay?

If there is a link or a post that explains it - it would be such a help.


Steve

debtinfo

If you are both going bankrupt then it is fairly simple, you can on both forms but all of the income and all of the expenditure, If only one is going bankrupt it is a little bit more complicated as the one not going bankrupt understandably may not want to give up their details so it has to be split carefully

debtinfo

also just wanted to point out that although the fees do go up from time to time i dont know of any current plans for them to rise in the near future

Steve_C_4

Thanks, we are both going B/R.

So as you say we both put down the total Outgoings.

My thought was say we both spend £20.00 a month on clothes (assuming that is an allowable figure).

We would both put £40.00 on 7.1 - Clothing.

And explain that it's for us both.


Steve

debtinfo

Yes that would be fine, also remember that at somepoint you will have an interview with the Official Receiver and these are the sorts of things you will discuss so dont worry about it to much, there will be time to explain your statement when you speak to them

Steve_C_4

Again thank you.

My wife would prefer to list all the Outgoings separately. Rather than adding them together.

She feels that we should do this individually. She just thinks it will be easier if we are interviewed separately.

In other words I do mine.

And she does hers.

Would this be OK and as you said we could both explain all the details to the Official Receiver.

Steve

Depth_Charge

Steve_C wrote: »

Thanks, we are both going B/R.

So as you say we both put down the total Outgoings.

My thought was say we both spend £20.00 a month on clothes (assuming that is an allowable figure).

We would both put £40.00 on 7.1 - Clothing.

And explain that it's for us both.


Steve

Hi

Just following on a little from debtinfo

I am sitting here with an actual O/R income payments calculation from a bankruptcy case from late last year.

If I am reading it right the monthy allowance given for clothing for a couple with one child in this particular case was £120, this amount also appears to be the guidence figure.