Outgoings...Is this ok??

sweedart1

Hello again everyone,

Im trying to sort out my outgoings for for BR form. Just need some advice please!!:

My Earnings are £1573 per month.

Rent £400.00
Council Tax £70.00
Gas/Electric £70.00
BT £25.00
Loan £210.00
Credit Cards £200.00
Shopping £380.00
School Dinners £60.00
Football taining £20.00 (11 yr son plays for community team)
Catalogues £60.00
TV £25.00
Pets £20.00 (my 2 sons have a rabbit each)
TV Licence £16.00
Lunch at work £35.00
Foot Strapping £30.00 (Waiting for op on toe, needs constant strapping)
Buses to Hospital £8.00

Grand Total £1559.00

Is this ok??? Will they refuse me Bankruptcy??

Im so glad ive found this site, its been so comforting to hear other peoples experiences. Knowing that im not on my own.

Thanks Everyone

Sweedart1:rotfl:

Mike_St_Helens

sweedart1 wrote: »

Hello again everyone,

Im trying to sort out my outgoings for for BR form. Just need some advice please!!:

My Earnings are £1573 per month.

Rent £400.00
Council Tax £70.00
Gas/Electric £70.00
BT £25.00
Loan £210.00
Credit Cards £200.00
Shopping £380.00
School Dinners £60.00
Football taining £20.00 (11 yr son plays for community team)
Catalogues £60.00
TV £25.00
Pets £20.00 (my 2 sons have a rabbit each)
TV Licence £16.00
Lunch at work £35.00
Foot Strapping £30.00 (Waiting for op on toe, needs constant strapping)
Buses to Hospital £8.00

Grand Total £1559.00

Is this ok??? Will they refuse me Bankruptcy??

Im so glad ive found this site, its been so comforting to hear other peoples experiences. Knowing that im not on my own.

Thanks Everyone

Sweedart1:rotfl:

Hey queen,... They wont refuse B on your I&E.. Just make sure you have had 'professional advise' !!!!

Have a peep here for EVERYTHING that you should include.
http://bankruptcy.informe.com/viewtopic.php?t=29

Mike xx

AlanD_3

They won't refuse you BR based on you SOA.

If you owe a significant amount, have taken advice (CCCS, careful when you google them, google has about 4 fake CCCS sites out for your money that pop up before the real one), can't afford to repay on an IVA (you can't based just on your bottom line) and so on they will grant you BR.

There isn't a problem at that stage with your SOA. BUT... without looking at it in too much depth the OR may examine your figures and dispute. Things like CC and credit card payments on your SOA will almost certainly be transformed into surplus income (all debts wiped out, nothing to repay) which will then have a proportion of them going to the OR.

I hope this helps.

Alan

Conor_3

IMO, this is SoA shows that an IVA is possible and I think you'd find that a CCCS/Payplan advisor would say the same. Excluding debts, there's £484 to service an IVA which is more than enough. Chances are the OR will make a payment order that'd leave you no better than off than a IVA.

It's going to be one of those "suck it and see" jobs. Personally I'd speak with CCCS and see what level of payments they'd want for a DMP. You might be surprised.

wherediditallgo

sweedart1 wrote: »

Hello again everyone,

Im trying to sort out my outgoings for for BR form. Just need some advice please!!:

My Earnings are £1573 per month.

Rent £400.00
Council Tax £70.00
Gas/Electric £70.00
BT £25.00
Loan £210.00
Credit Cards £200.00
Shopping £380.00
School Dinners £60.00
Football taining £20.00 (11 yr son plays for community team)
Catalogues £60.00
TV £25.00
Pets £20.00 (my 2 sons have a rabbit each)
TV Licence £16.00
Lunch at work £35.00
Foot Strapping £30.00 (Waiting for op on toe, needs constant strapping)
Buses to Hospital £8.00

Grand Total £1559.00

Is this ok??? Will they refuse me Bankruptcy??

Im so glad ive found this site, its been so comforting to hear other peoples experiences. Knowing that im not on my own.

Thanks Everyone

Sweedart1:rotfl:

I don't know whether an IVA is possible, but I think you could save money on some areas. For instance, your tv licence - it's normally only about £10-11 pm. Also the foot strapping - can you ask your doctor to prescribe that for you? If so, the cost would be £6.85pm, a significant saving.

savagevixen

Conor wrote: »

IMO, this is SoA shows that an IVA is possible and I think you'd find that a CCCS/Payplan advisor would say the same. Excluding debts, there's £484 to service an IVA which is more than enough. Chances are the OR will make a payment order that'd leave you no better than off than a IVA.

It's going to be one of those "suck it and see" jobs. Personally I'd speak with CCCS and see what level of payments they'd want for a DMP. You might be surprised.

It does depend how much the actual debts are. An IVA for us would have been to high an amount per month,

NekoZombie

Umm, a quick question no-one seems to have asked. Why are your listing debt repayments on your SOA for bankruptcy? Shouldn't it just be living expenses?