Cost of living increase for BR

gated

Hi people,

After bankruptcy, what sort of percentage increase in the cost of living would seem typical?

Let's assume a single person in their 30s that runs a car and rents a studio flat.

How much more ( percentage wise ) would a BR pay for these things;

-Electricity.
-Gas.
-Water.
-Car insurance.
-RAC/AA cover.
- Anything else I haven't thought of.

Regards.

wharty

gated wrote: »

Hi people,

After bankruptcy, what sort of percentage increase in the cost of living would seem typical?

Let's assume a single person in their 30s that runs a car and rents a studio flat.

How much more ( percentage wise ) would a BR pay for these things;

-Electricity.
-Gas.
-Water.
-Car insurance.
-RAC/AA cover.
- Anything else I haven't thought of.

Regards.

Well i am 34 and i haven't noticed any increase in costs since my bankruptcy. I was made bankrupt in June this year and have just (last few weeks) fixed my gas and electric at the same rate as everybody else. My car insurance is the same however i expect to be asked to pay up front next time i renew.

So for me, no difference. What i would say though with the nature of bankruptcy i am much better off financially than i have ever been.

TheGardener

Exactly the same as someone not BR I would think? My insurance was actually cheaper because I had to pay up front so no interest for monthly payments; a basic bank account if free (unless you bounce DD's etc) I'm not paying interest on any loans or CC's...
Only thing I can think of is if a BR ends up with a pre-paid fuel meter - they cost more but I think most people avoid them if they can and again, lots of people who are not BR have them. Why would a breakdown service charge you more?

National_Debtline

Hi

I echo a lot of what gardener says above - looking at it the other way round, you will usually be offered a discount on energy bills for paying by DD (same goes for a lot of telecoms/internet providers) - BR doesn't in itself stop you from paying bills by DD but a provider may become less willing to offer you its services on credit. It's not a given that you will be obliged to have a prepay meter installed by energy supplier, just a strong possibility if energy arrears are included in your BR.

You mention water - if you are a singleton, you may actually be able to save money by having a usage meter installed. Most single-person households using water meters are likely to see lower bills than those who simply pay the standard rates.

Regards

Dennis @NDL

gated

Thanks for the replies guys.