SOA Help

Trinitrotoluene

Salary......... £2000 (I have no other benefits or income)

Outgoings
Child Maintenance.....£450

They live in a 1 bed bungalow, so that is not really an option. I also need somewhere to have my kids overnight for 2 days a week.

£2000 x 12 / 52 = £461 a week. When I run that through the child maintenance calculator the absolute worse case scenario (three or more kids at 2 nights a week) is £75 a week x 52 / 12 = £325. If you have your kids for three days a night on ONE week of the year this drops you into the next category down and you owe £53 a week = £229 a month.

Something doesn't add up?

michael1983l

Trinitrotoluene wrote: »

£2000 x 12 / 52 = £461 a week. When I run that through the child maintenance calculator the absolute worse case scenario (three or more kids at 2 nights a week) is £75 a week x 52 / 12 = £325. If you have your kids for three days a night on ONE week of the year this drops you into the next category down and you owe £53 a week = £229 a month.

Something doesn't add up?

I have a car through salary exchange at work so although I do not get paid the cash, Child Maintenance has to be calculated including the sum. I took a car because I work shifts and can't use public transport, I did cycle for a while but my bike was stolen. I can't get my own insurance whilst hiding from creditors so I took the car from work.

Trinitrotoluene

What's your income before the salary sacrifice? How many children do you have?

adpod

Can you put your actual SOA using figures that you actually spend each month and then people here can tell you how and where to bulk up your SOA.

Also list your assets, you claimed not to have a car in the first post and now you do (if I read that right).

Remember if the OR thinks you are hiding anything or being dishonest then can extend your BR for upto 15 years.

Also if I get this right, your parents too out a loan and gave you the money and you agreed to pay it back to them and they would intern pay the loan off - now do you have a written agreement from your parents with all the facts and figures?

If not then I would bulk up my SOA then live on the bread line for 12 months (saving a couple hundred pounds) and paying back my parents something even if its only half the amount.

Nothing fraudulent about that just flexing the rules.

If you have a car why not sell it (depending on how much its worth) and give that money to your parents before going BR.

Everything you buy or sell pre BR is your choice and as long as you can account for the money coming and going from your account then you will be fine.

All that other BS about committing suicide, I have only one opinion on that, shut up and do it OR man up and sort your life out - the second one is harder but boy is it worth it….

REMEMBER ITS ONLY 12 MONTHS

[Deleted User]

adpod wrote: »

Nothing fraudulent about that just flexing the rules.

I'm afraid it is fraudulent.

When going BR, you are required to make a sworn declaration, of a statement, detailing ALL your financial arrangement.

The OP would have to declare, that they pay nearly £500pm to their parents, and why.

adpod

Bedsit_Bob wrote: »

I'm afraid it is fraudulent.

When going BR, you are required to make a sworn declaration, of a statement, detailing ALL your financial arrangement.

The OP would have to declare, that they pay nearly £500pm to their parents, and why.

If there is no paperwork/agreement then its not his debt ie a debt not in his name.

He wont need to declare the debt - as it doesnt exist and he can use some of the money from his SOA (say £200pm on food but only spends £150pm leaving £50pm) to give to his parents.

I have an SOA, which is agreed, but sometimes (not very often) if I have money left over from my food budget which I spend on other things that I need, I don't need to declare (I did it once and the OR told me the SOA was agreed and only if my income changes do I need to contact them) that and I can do what I want with that money.

[Deleted User]

adpod wrote: »

If there is no paperwork/agreement then its not his debt ie a debt not in his name.

It does exist.

A verbal agreement is still an agreement.

The bankruptcy rules say the person going BR must

comply with the Official Receiver’s request to provide information about your financial affairs.

Financial affairs cover far more than merely official debts.

The fact the OP has a verbal agreement, to pay almost £500pm to his parents, IS a part of his financial affairs.

I have an SOA, which is agreed, but sometimes (not very often) if I have money left over from my food budget which I spend on other things that I need, I don't need to declare (I did it once and the OR told me the SOA was agreed and only if my income changes do I need to contact them) that and I can do what I want with that money.

That's different, because you are simply redirecting money you were allowed, based on the SOA you presented.

The OP is presenting a SOA, describing his current situation, and swearing to the truth of the contents.

By not declaring a commitment he has (ie. the £500pm to his parents), he would be swearing to (what he knows to be) an inaccurate statement of his financial affairs.

adpod

Bedsit_Bob wrote: »

It does exist.

A verbal agreement is still an agreement.

The bankruptcy rules say the person going BR must



Financial affairs cover far more than merely official debts.

The fact the OP has a verbal agreement, to pay almost £500pm to his parents, is a part of his financial affairs.



That's different, because you are simply redirecting money you were allowed, based on the SOA you presented.

The OP is presenting a SOA, describing his current situation, and swearing to the truth of the contents.

By not declaring a commitment he has (ie. the £500pm to his parents), he would be swearing to (what he knows to be) an inaccurate statement of his financial affairs.

Sorry but VERBAL agreements don't and won't stand up in a court of law, they arent worth the paper there written on.

Currently what the OP does with his money is his business when I comes to being BR he will lists all the debts in HIS name, he can explain he pays money to his parents to cover a loan (in their name) obliviously the OR wont allow this in his SOA but he can scrape from his SOA to help his parents.

Its not a debt he can include in the BR but can be used to show where his money is going, and why he cant pay HIS debts (hes helping his parents with theirs)

[Deleted User]

adpod wrote: »

Sorry but VERBAL agreements don't and won't stand up in a court of law, they aren't worth the paper there written on.

So, if his ex-wife was giving him £500pm maintenance (cash in hand - by verbal agreement), rather than by an official arrangement, he would have to declare it?

adpod

Bedsit_Bob wrote: »

So, if his ex-wife was giving him £500pm maintenance (cash in hand - by verbal agreement), rather than by an official arrangement, he would have to declare it?

Thats not a debt.

And nothing to do with the issue.

If he doesnt uphold that verbal agreement she has rights to claim against him as the father.

Loan agreements are completely different, nothing written down? then there is nothing to prove that the agreement was made.