Outgoings can someone help/advise!!

alafraise

Well here goes

Theres me and my 4yr old

I work full time DD at school 1/2 days till September

Rent £420
Household £350 ( is this a bit high? includes house/cont ins)
Gas/Elec other heating £90
Water £33
Telephone £30
Travel to/from work £90
Clothing £50
Council tax £92
Child Care £420
Car tax £16
Car Ins £37
TV license £10
Car Maintenance £10

Total £1632

Income £1039 wage
WTC £87
CTC £475
CHB £72

Total £1673
Diff £41

Do you think this will be OK as this is what I've put in.
Was declared bankrupt on Monday still waiting for OR to call.

Any help/advice would be grateful

Zoe

savagevixen

HI Zoe!
I am sure that will be fine. The OR will not include the child benefit, so your income will drop to £1601. This will therefore show a deficit of £21. Your figures all look very reasonable, and in the unlikely event something is disallowed, I cannot see how there will be a problem as you need a surplus income of £100 to receive an IPA/IPO.
We are also trying to establish on here whether or not CTC counts, and it seems to be up to the individual OR.
The only thing that may change is when your little one goes to school full time. Presumably the huge outgoing on childcare will drop and change the financial situation. At this point you would have to advise the OR of a change in circumstance.
Good Luck!
Vix

Remmer

Car Mainenance is too low

alafraise

Thanks for the info on the CHB wasn't sure if it was completely true.

Will still unfortunatly be paying some child care when DD starts full time but CTC will drop aswell.

I am due a payrise in Sep aswell

Is there a min amount you have to declare as it may be as much as 1.5K
But again my WTC will be effected so might even out (hopefully)

I'll let you know what happens

More nervous about the OR than the court. Hate phone calls. I end up talking jibber jabber and get all muggled up

desperate_mum_3

Hi ... my OR told me that as my main income was benefits they would not be taken into account ... I get WTC & CTC= £630
CB= £72
Daughters DLA= £66
CSA=£216
Wages=£300
So hopefully your OR will be as human as mine ..... it really does seem to be an individual things which isn't fair ...Good luck

savagevixen

Likewise, our income is made up of around £900 wages and £1000 (ish) WTC+CTC, + £266 CB + £250 Housing Benefit. The DLA my son receives is disregarded. (Tax credits are higher too as we have a disabled child)
We are a family of 2 adults and five children aged under 8. The OR did not even talk about the I&E!!!!
She chatted about how and when we had got into debt. She had to check whether we could keep both cars (we could) and that was that. She said as we recieved so many benefits it did not matter.

Remmer

Not sure about DLA but the others should be ok. DLA is paid to your daughter even if you receive it in your account as my OH does. It's another grey area

savagevixen

Remmer wrote: »

Not sure about DLA but the others should be ok. DLA is paid to your daughter even if you receive it in your account as my OH does. It's another grey area

DLA is not a grey area at all. It is absolutely not included. I did not even have to put it on the forms. The money is for my son. It is his money I receive it as he is too young.

"This does not mean that the official receiver must exclude all benefit payments received by the bankrupt when calculating available income for an IPA. The person making the calculation (usually the examiner) should first consider whether there is income paid to the bankrupt not comprising state benefit . If this is the case, an IPA may be a possibility, and any calculation of income should include all available income, including state benefits which are paid to an individual for the general benefit of that individual and their family. The notable exceptions to this rule when dealing with state benefits are disability living allowance (which is not considered by the Department of Work and Pensions to be income) and child benefit. The High Court has stated as a matter of public policy that child benefit and similar benefits should not be included in the statement of income when applying for an IPO and there is no reason why this point should not be extended to cover IPAs. Whilst it is acknowledged that in the figures for expenditure there may be outgoings for the benefit of the children, at least to the value of the child benefit received, to ensure that there is no risk of them being deprived of it, child benefit should not be included in IPA assessments. The Department of Work and Pensions website provides useful information regarding allowances and benefits currently in force and can be accessed at http://www.dwp.gov.uk/"


This is taken from
http://www.insolvency.gov.uk/freedomofinformation/technical/techmanvol1/Ch25-36/Chapter31/part7/part2/part_2.htm

Vix

Remmer

I stand corrected so have to go back to OR now because it was down to the individual's incompetence. Thanks

savagevixen

Remmer wrote: »

I stand corrected so have to go back to OR now because it was down to the individual's incompetence. Thanks

Sorry Remmer didn't mean it too sound so abrubt!!!