What is allowed for Bankruptcy Expenditure

Lizardwoman1

Please can someone help me I am about to fill in the forms for bankruptcy but not sure what is allowed please could someone help as I have found conflicting information.

We are a family of 5 two adults and 3 children.

Obviously council tax water gas and electric etc I know but I could do with knowing how much I should put down for clothing haircuts food and household items holidays birthday and christmas and childrens activities.

Thanks

mysterio_2

fill everything in as you are now here

http://www.stoozing.com/msoc/soacalc.php

once finished select the "format for MSE" option at the bottom then paste the stuff here in a new message box..and the good peeps will be along to suggest tweaks here & there

for starters..christmas/birthday/entertainment are not usually allowed in bankruptcy but money can always come from other savings

Polly_Wolly_Doodle

We were allowed £750per month for 'household' expenditure, this was food, loo roll, nappies etc, also a family of 5.
Nationaldebtline had a sheet that showed what was classed as reasonable for the application. So for us cars etc and fuel as to get kids to school / nursery we needed them. With no cars, then no jobs and no jobs would have meant no IPA for the creditors...
We were told to take kids activities from child benefit and then child benefit wasn't classed as income. HTH.

Lizardwoman1

Thanks does that mean when I am filling in the forms I don't have to put CB down or do I put it down and they just don't count it.

Thanks

TinyToes

i know every situation is different but with us they calculated CB and TC for ipa figures.

HappyMJ

Every OR is different. Personally if I were to declare the CB then I would put an amount down as an expense under childrens activities to offset any CB received. Any CTC's received should be offset by the increased allowances for household grocery and clothes budgets.