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Well here is my SOA since i'm considering bankruptcy

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Comments

  • I will try post a new SOA based on us both this evening. I will base it on the period I would actually file for BR for which maternity leave would have started for the OH.

    Having used the calculator at the provided link it says I qualify for the following support:

    Child Tax Credits | £33.82
    Child Benefit | £20.30
    TOTAL | £54.12

    To clarify... is child tax credits per household or per person? I would assume the former...

    I want these to go to my partner though to keep her wage at the same level for a little longer. Would I still need to input this information..
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Hi new user. Just to clarify some points, you should do the soa as if it was the day of the bankruptcy. There are no allowances you must put down what you actually spend or what you need to spend for your individual and household circumstances. For instance if you will bw able to afford insurance it is ok to get it now and put the expense down (probably a good idea to get it) but if you don't get it before bankruptcy day then you must not put it down. Also on the contribution question for now you should put the complete household expenses down and the partners full income. The contribution is worked out later as it is a percentage of the outgoings so that needs to be worked out first
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    DI, the IS in my old area liked it when the contribution was put down rather than the full amount and our CAB always worked it like that. I always prefer that the contribution is put down then there can be no confusion as to what is surplus or not. Your area obviously prefered it differently.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Sorry I think you misunderstood me tf. When I say later I mean after you have worked out the expenses and before submitting it to the court. Simply because the contribution is a percentage of the outgoings so you need a final list of the outgoings before the contribution can be calculated
    Hi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
    Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Ah! of course DI, sorry. Thanks for clarifying that.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • Hi new user,

    Your tax credits and child allowance amounts you stated will be per week.

    Good luck with bubba
    BSC no.370 AD March 14
    :xmastree:SPC no. 196 target £350 for Christmas '14:xmastree:
  • Re your tax credits, have you put in your partner's income? They base it on household income and your hours so if you've only used your income it won't be accurate.
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
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