Considering Bankruptcy

Richard_S

gettingitsorted wrote: »

Hi Rich ,

im fine thanks still working like mad ,doing shed loads of overtime at the min so im never on line in the evenings,this week im on 6pm till 2 am monday to friday although was in this morning 9 till 12 then back on tonight also working my 2 evenings off this week so am in sat and sunday doing 4pm till 2am.

How was the move ?



I hope you and jane arn't pushing yourselves too hard (like i can talk:rolleyes: )

Still have not managed to do the budget sheets you sent me :eek:

Hi GIS,

The benefit of overtime is that you can argue it's not part of you regular income and leave it off your I&E a/c.

Did you manage to get the software to open it ok? It's best to do anything like that when you're not too busy so now doesn't sound like a very good time to start.

The move was very arduous, full four day Easter weekend but we didn't hire a removal company so saved a good deal of cash. The electrician is finishing the re-wiring of the ex dog house tomorrow and that's out new dining room finished; it looks really nordic.

Still got quite a lot of stuff to stash in the false roof but that's just good exercise.

Rich

gettingitsorted

Richard_S wrote: »

Hi GIS,

The benefit of overtime is that you can argue it's not part of you regular income and leave it off your I&E a/c.

Did you manage to get the software to open it ok? It's best to do anything like that when you're not too busy so now doesn't sound like a very good time to start.

The move was very arduous, full four day Easter weekend but we didn't hire a removal company so saved a good deal of cash. The electrician is finishing the re-wiring of the ex dog house tomorrow and that's out new dining room finished; it looks really nordic.

Still got quite a lot of stuff to stash in the false roof but that's just good exercise.

Rich

to be perfectly honest rich iv not even had time to try opening the software since my other half put the program needed on my laptop,i really must get it sorted next week when the kids go back to school as the clock is ticking away.

i have have till the 23rd to inform the OR ,im still hoping my early discharge comes through b4 then though .

jules23958

hi alan
I am a teacher also. I went bankrupt on april 4th after 7 years of worry. I am in a council house too so had similar worries to yourself. My husband has asperger's syndrome and basically has not been coping with creditors at all so have had to do it all on my own.
Suggest you contact CCCS first then they will probably refer you on to payplan which is the route i took.

jules23958

payplan will want details of everything financial so if you are not organised get it all together. I had a helluva job as my debts had been passed from pillar to post for 7 years whilst a solicitor had power of attorney on our affairs whilst i was off with depression (2 years) - once i was ready to take it back on debts were everywhere.

jules23958

have been told council house safe provided you keep up rent and council tax so you should be ok on that.
Apparently the OR looks at each case individually so if you need something that others would consider to be a 'luxury' - provided its not deemed as a 'luxury' for you then they will let you have it.
Get advice from pay plan though cos none of us are professionals on here or we wouldn't be in this mess would we?

jules23958

one other suggestion - plan to go bankrupt in holiday period - it will give you time to save up and also take away hassle of worrying about it whilst at work - you know we don't have time.
Bailiffs - don't let them in under any circumstances... once they are in you have to let them in any time.
Creditors - only communicate with them by post - say you are going bankrupt and you are keeping a record of all communications for the benefit of the OR... it won't stop them all but it does quieten them for a while. Change your phone number.

AlanD_3

Wow loads of replies:eek:

I'll have a good read through later (dinner time now, then kids' bed).

Thank you again to all.

Had a hellish afternoon sorting through all the baliff/creditors' letters...

AlanD_3

Income

WCC - Pay Alan Monthly £1,367.89
Incap Ben Dawn Monthly £411.67
Child Ben Dawn Monthly £70.45
Industrial Injuries Dawn Monthly £165.32
Total £2,015.32

Trying to work out expenditure is a nightmare... no idea what we spend on food, clothing for us and kids, petrol etc...

So far...

Type Company Frequency Amount
Digital TV Sky Monthly £21.00
TV License UK Gov Monthly £11.37
Council Tax North WiltsMonthly £96.84
Union Sub NUT Monthly £14.85
Insurance Curry's Monthly £3.99
Broadband Plusnet Monthly £21.99
Charity Oxfam Monthly £2.00
Rent Westlea Monthly £300.00
Gas Scottish Power Monthly £5.00
Electric Weekly £50.00
Telephone BT Monthly £61.50
Car Insur Auto Direct Monthly £32.23
Water Wessex Water Monthly £54.94
Home Conts Insur Insure4lessMonthly £17.00
Pet Insurance M&S Monthly £14.52


CURRENT REPAYMENTS
Electric Weekly £10.00
Council Tax WWDC Monthly £60.00

MONTHLY ADJUSTMENTS
Electric £216.67
Electric Repayment £43.33


Food
Clothes (adult)
Clothes (children)
Petrol (car)
Petrol (bike)
Tax & MOT
Taxis (Dawn, trapped)
dry cleaning

I really am at a loss now. We've found that we're not on the cheapest Sky, which is bizarre and is going to be recitfied very soon. Electricity is so expensive because we are on a key meter and have night storage heaters and two kids (thus lots of washing) etc etc.

Tax and MOT I have to look up. Dry cleaning is needed for my suits for work, being a science teacher they get rather messed up occasionally, icing sugar, chemicals and so on.

Petrol for the car I work out at around £45 a week (from what I can remember) which is £195 a month it may be more or less than this. Petrol for the bike is around £45 a month but it is off the road officially at the mo (thus no insurance/tax for it). Dawn needs taxis occasionally as I work, she doesn't drive and she suffers from SPD (hip problems in pregnancy, virtually crippling her at times), panic attacks and neck problems. We've no idea how much this is. It could be anything from £30 to £100 a month to be honest. We don't want to sound excessive but then again we want to say the truth.

Food????? No idea!!!!! About £120 every week and a half I think but it could be more or less. We worked out that milk alone is £25 a month minimum so around £390 a month might even be low.

CLOTHES!!!!!!! Who knows??? We don't buy them monthly. New shoes for the kids work out at £30 a pop even from cheap shops (to get something that won't cripple them or make them look like chavs) but that isn't quite monthly (just feels it). Our eldest really needs school shoes and trainers so that is 3 sets that will need renewed every now and then. The youngest gets handmedowns for most clothes but he is a very different shape to his brother and the handmedowns are on their 4th child now (handed round cousins) so they often need supplementing. Our eldest is now bigger than his older cousin so all his new clothes need to be bought.

Dawn is pregnant and needs new clothes frequently. She has also lost a lot of weight so when she isn't pregnant she is needing to replace her wardrobe. She also needs new tights and bras frequently. Dawn's shoes wear out quite quickly which seems odd given how much they cost... and given that she doesn't walk that much... but they do... guess it is the heels.

My clothes need less replacing, mainly sock, undies and trousers occasionally (acid burns on the trous). My shoes do wear out far more frequently.

On top of all this my wages will drop to approx £19000 from September as I have to go part-time due to ill health. I work this out at approximately £1227 a month after tax and insurance... (thanks to the Pru for the calculator) but this doesn't include pension... (OMG!!!! PENSION!!! Do I lose that? It is only 4 years' worth but it is all we have so far). So I work this out at approx £1,874.43 a month from September rather than £2,015.32.

Can anyone help on what sounds fair on these things... guidance on what is normal before we start hunting through the big bag of bags for reciepts?

One thing is clear we do spend more in general than we thought. But this doesn't include the occasional big expenses (car, things for house etc car just cost us over £300 in repairs for MOT), plus books, toys etc for kids, trips out, books for work, magazines for work (and pleasure), the odd weekend away that we save for etc etc...

Got to start paying £60 on top for one of the bills. Full details of a few of the bills to follow. When I have the strength.

Thanks to Jules for the teacher comments. I spoke to County Hall today and they said that as long as I don't have a position of responsibility (over cash... which would include budget) then all I have to do is tell the head and it should be ok. I'm awaiting a response from an anonymous email (via their website) to the Housing Association.

Also missed out mobile phone topups which are a necessity with Dawn's illness as she needs to know she can contact me or someone else when out and about... plus she needs me to check in with her occasionally too.

Richard_S

AlanD wrote: »

Wow loads of replies:eek:

I'll have a good read through later (dinner time now, then kids' bed).

Thank you again to all.

Had a hellish afternoon sorting through all the baliff/creditors' letters...

Alan,

First things first. You say you have debts of £30k ish; bankruptcy doesn't include Student Loans and if you're including them it's not giving a relevant picture. Starting work on your income and expenditure is essential but ascertaining whether bky is the best option for you is more of a priority. What debts do you have? I think you said that you don't have credit cards or loans so who do you owe money to?

I should have some time tomorrow on line but you haven't really posted the essentials. Detail your creditors and you'll get some helpful advice, from all the people on here, until you do it's just guess work and that's really not going to help you.

Regards

Rich

AlanD_3

Richard_S wrote: »

Alan,

First things first. You say you have debts of £30k ish; bankruptcy doesn't include Student Loans and if you're including them it's not giving a relevant picture. Starting work on your income and expenditure is essential but ascertaining whether bky is the best option for you is more of a priority. What debts do you have? I think you said that you don't have credit cards or loans so who do you owe money to?

I should have some time tomorrow on line but you haven't really posted the essentials. Detail your creditors and you'll get some helpful advice, from all the people on here, until you do it's just guess work and that's really not going to help you.

Regards

Rich

I'm not including student loans. They are repaid by the government thanks to the repayment of teachers' loans scheme.

I currently have no credit cards or loans but I did have in the past, as did the business.

I'm sorry if you feel I have been unclear or misleading it isn't easy facing up to all of this at the best of times and at the moment ME, stress, depression etc is not making it any easier.

I said I was going to list the creditors soon. It is not easy to look at.

We have council tax (domestic and nondomestic), suppliers, newspapers (advertising), electric companies, water companies, BT, Banks, suppliers of credit card equipment (swipe card machine) and two credit cards within there.

Again I'm sorry Rich if I've seemed at all evasive or annoying it was not my intention.