Should we both go bankrupt ?

butterfly_effect

Hi I have been advised its best for me to go bankrupt we have no income and will not have for a while yet as my partner is recovering from an op. I am booking this tommorow.

We are left with no money each month after our basic outgoings and food.

our income is
17.45 child benefit
21.00 child tax credit
121.00 incapacity benefit
total £159.45 per week

Our outgoings monthly are:
Cat insurance £5.23
Car insurance £28.00
Garage rental £26.00
phone, tv, internet, mobile £70.00
water rates £30.00
Gas + elec £52.00
home ins £15.00
tv licence £34.00 per quater = £11.00 per month
car tax £16.00
petrol £100.00

Total £353.23



I have about £9000 debt

My other half owes 5,000 we have been advised he should go bankrupt too as we cannot afford even a small payment to his credit card company.

Does anyone have any advice for us we are council tenants with no valuable items and a car worth about £500.

should we both go bankrupt, we have no joint debts.

Can I include my 3 mobile phone contract default in my bankruptcy /

thanks for all your help so far everyone :beer:

tight_jock

This probably isn`t going to move you forward but ...the only person who can make that decision is you ( and OH ). What you must do is get in contact with one of the advice agencies

CAB Money advice unit
Payplan
National Debtline
Consumer Credit Counselling Service (CCCS) watch out for C-C-C-S who are a pay service
All of whom give free advice. If/when you get to court, the judge will ask if you have consulted professionals. This is important.

Once you have had the advice I suggest you get on with the process as quick as you can.

:beer:
TJ

gettingitsorted

Am i right in thinking that incapacity benefit is not counted as income ?

gettingitsorted

ps i included my 02 default on mine

tight_jock

gettingitsorted wrote: »

Am i right in thinking that incapacity benefit is not counted as income ?

I think this is correct Gis.......oh and good evening hun :beer:

gettingitsorted

tight_jock wrote: »

I think this is correct Gis.......oh and good evening hun :beer:

evening sweetie :beer:

butterfly_effect

Thanks again peeps x
I am going to call now for an appointment.

Toomuchdebt

Shouldn't you be getting income support if nobody is working?

butterfly_effect

Toomuchdebt wrote: »

Shouldn't you be getting income support if nobody is working?

our income is
17.45 child benefit
21.00 child tax credit
121.00 incapacity benefit
total £159.45 per week

Incapacity is paid through income support so we do already get it!

Toomuchdebt

butterfly_effect wrote: »

our income is
17.45 child benefit
21.00 child tax credit
121.00 incapacity benefit
total £159.45 per week

Incapacity is paid through income support so we do already get it!

I didn't know that!!!I've learnt something today!

sciencegeek

how about not renting the garage and giving up the tv internet and mobile. These are all unnecessary extras and you would save 107 a month. Do you really need a car - if you got rid of it and used public transport (if available) you could save another £144 a month (plus whatever you get for selling the car itself. ??