The "what do you need to know before you go bankrupt?" thread!

ClaireLR

WDIAG thanks so much for that, I can't believe you're allowed to include that thats fantastic!!

Brillaint thanks so much!!

ClaireLR

After a little tweaking here is my new SOA

Income
1080

Outgoings
Rent 235
Council Tax 54
House Insurance 6
Gas 40
Electric 40
Water 25
TV licence 22
Phone 40
Road tax/MOT 20(saved every month)*
Car insurance 40
Petrol 120
Maintenance for car 30(saved every month)*
Breakdown cover 22
Housekeeping 200*
Cat litter/food 20*
Clothing/footwear 50*
Dentist/prescriptions/Opticians 20(saved every month)*
Pet Insurance 15 (for 2 cats)
Hairdressing 15*
Internet and TV 18
Holidays 40

= 1072

1080 – 1072 = 8

Just a little question, if Ive accidentally(!) put to much for some things (like housekeeping) will the OR automatically take this off to what they consider to be reasonable?? And is it better to be a bit cheeky and put to much for some things and keep fingers crossed that they accept that, or by putting a bit to much am I risking them telling me off or worse!?!?

wherediditallgo

You're getting there. I don't think you've allowed too much for housekeeping.

Personally, I'd advise anyone to put down everything they can think of that they have to pay for rather than leave things out, unless it's something they can do without if need be. The OR needs to see as complete a picture of your income & outgoings as you can provide, & if you leave things out they simply won't allow for them at all, which might make things difficult for you further down the line. If they are going to query something with you, whether it be the amount or the item itself, they'll do it at the interview stage & you can then explain why you have that particular expense. On another forum, I was told not to include my broadband, but I did & when they queried it with me in my phone interview, I told them why I needed it (for internet-based study).

savagevixen

ClaireLR wrote: »

After a little tweaking here is my new SOA

Income
1080

Outgoings
Rent 235
Council Tax 54
House Insurance 6
Gas 40
Electric 40
Water 25
TV licence 22This is too high!! £12
Phone 40
Road tax/MOT 20(saved every month)*MOT-with the maintenance?
Car insurance 40
Petrol 120
Maintenance for car 30(saved every month)*
Breakdown cover 22
Housekeeping 200*£205!!-Saw someone single adult with £225!
Cat litter/food 20*
Clothing/footwear 50*
Dentist/Opticians 15(saved every month)*
Prescriptions 8
Pet Insurance 15 (for 2 cats)
Hairdressing 15*
Internet(don't put TV twice!) 18
Holidays/Emergencies 45-50

=

Just a little question, if Ive accidentally(!) put to much for some things (like housekeeping) will the OR automatically take this off to what they consider to be reasonable?? And is it better to be a bit cheeky and put to much for some things and keep fingers crossed that they accept that, or by putting a bit to much am I risking them telling me off or worse!?!?

Emergencies, such as repairs to home, broken kettle, washing machine etc
Keep playing with it!!

ClaireLR

Thanks Vixen.

I really feel I'm making progress over the past 24 hours or so!! yippeee!!

Still a long way to go though.

Another question which I'm not sure about. Do you have a telephone conversation with the OR on the day of bankruptcy and then another one/face to face meeting?? How many times do you have to meet with the OR??

And also, about early discharge (wishful thinking!) is this something you have to apply for or is it automatically granted?? And how do they decide if you should have early discharge or not?? Anything I can do to increase my chances??

allofadither

ClaireLR wrote: »

Thanks Vixen.

I really feel I'm making progress over the past 24 hours or so!! yippeee!!

Still a long way to go though.

Another question which I'm not sure about. Do you have a telephone conversation with the OR on the day of bankruptcy and then another one/face to face meeting?? How many times do you have to meet with the OR??

And also, about early discharge (wishful thinking!) is this something you have to apply for or is it automatically granted?? And how do they decide if you should have early discharge or not?? Anything I can do to increase my chances??

Depends which court you're at Claire. Some people have the interview with the OR at the court on the same day, some people speak to the OR briefly on the phone at the court (I did) then have the proper interview at a later date, and some people just leave the court and are then contacted by the OR within a day or two.

You should only have one full interview with the OR, but I guess they can write and ring you as often as they feel if they have questions they need answer to.

Early discharge is decided by the OR (you will be automatically discharged after 12 months anyway unless there is a problem), and from what I've read on here it depends on how complicated your case is. If you don't co-operate with the OR that will scupper your chances too, but that doesn't apply to you does it.

NekoZombie

allofadither wrote: »

Depends which court you're at Claire. Some people have the interview with the OR at the court on the same day, some people speak to the OR briefly on the phone at the court (I did) then have the proper interview at a later date, and some people just leave the court and are then contacted by the OR within a day or two.

You should only have one full interview with the OR, but I guess they can write and ring you as often as they feel if they have questions they need answer to.

Early discharge is decided by the OR (you will be automatically discharged after 12 months anyway unless there is a problem), and from what I've read on here it depends on how complicated your case is. If you don't co-operate with the OR that will scupper your chances too, but that doesn't apply to you does it.

I can't help but wonder if contesting my IPA will scupper my chances of early discharge. I hope the hell not! :eek:

ClaireLR

When I rang the court to book a date they told me that the process will take 2 hours. Anyone wnat to hazard a guess as to whether I will see the OR the same day?

ClaireLR

Just thought of something else that may be of importance.

I haven't taken any professional advice about making myself bankrupt, do I need to do this?? I'm worried that if I contact somewhere like cccs they will advise against it and I will still be stuck paying a DMP for virtually the rest of my life.

Will it be looked on unfavourably by the Judge/OR if I haven't taken professional advice?

Penelope_Penguin

Hi, Claire! Sorry for misunderstanding your question about your car. Hope you get it sorted.

In this area, the information I get from clients (I do money advice for CAB) is that one of the standard questions is whether you've taken advice regarding your BR, and considered your other options. My clients believe that they get an easier ride if they have taken advice (though we have no idea, of course, what happens to people who haven't!!).

One of the courts I deal with has 5 outlets. The OR works at each of them one day a week. If I've phoned the court close to someone's date, the staff can tell me if the OR will be in that day.

Regarding early discharge, I was at a meeting with representatives of the OR's office last week and they indicated that thye're trying to grant early discharge to more people. It will be given to you (you can't request it here) if your affairs are uncomplicated, and the OR/trustees have dealt with everything.

HTH, Penny. x