Bankruptcy advice needed for young family.

kerryboo

what is 18866?

savagevixen

meme wrote: »

Rent 400
c/tax 101
Gas 50(due to arrears)
electric 50 (as above)
Water rates 35 month (am in some arrears so paying over 12 months)
tv license 12.50
contents ins 11
dog ins 16 is this really necessary?Already discussed, and insurance is handy if the dog requires any medical attention. Vets are very expensive. This is not a particularly frivolous outgoing.
sky 53 but intend to cut this down get rid - the basic channels are freeHe already said he intends to cut down, twice, above.
car ins 33
loan 170
2 credit cards 70
overdraft interest 5
petrol 150 (i work 20 miles away so lot of milage) this is very high - I work 10 miles away, my petrol only £40/month...What do drive a scooter? He does 40 miles a day to work...and spends under £40 per week on fuel, and I am assuming, he shops with this petrol and visits family etc.It is high, but not too high and as he has stated he works 20 miles away!!!
shopping £200 (have to scrimp just to get enough for month)
nappys/baby stuff £30 (thats not including clothes, buy cheap asda outfits etc)
mobile £40
Bt phone broadband £30 thought you got free calls with this
18866 £10 where are you calling - not cheap now for UK landline callsMaybe knock this one on the head!

Hi again,
I am a little concerned as I see no dog food/care listed in your SOA. Surely the dogfood is not included in your already low groceries. You can list that separately (must be at least £10 per week-esp with flea control, dog shampoo/leads)
Also not listed any MOT, maintenance on car, CarTax.
Haircuts.
Basically your SOA is all over the place and when you go to CAB, or contact CCCS you need to be really clear about how much your actual outgoings should be realistically. For Bankruptcy, you are allowed to include pet expenses and haircuts and things.
We went to Payplan and I felt really intimidated on the phone and played things down out of embarrassment. I was told we were fine.
I then (in disbelief!!!) wrote it all down and posted on here and got really good feedback. We went to CCCS online service and input the actual figures that we should be spending and was advised a DMP for 36+ years or Bankruptcy.
We decided to wipe the slate clean and avoid credit forever!
Good Luck, and if you want help with your SOA just ask!

Vix


(Guys lets not give unhelpful advice on his SOA, shaving £53 of his sky and Dog Ins is not going to change his circumstances, it is just an unnecessary put down-esp when he has clearly missed necessities offf!!!)

savagevixen

meme wrote: »

Is this the car that costs £33 per month to insure.
That's outrageous!
Surely you could get cheaper.

I am 31 with 9 years no claims, and due to some SP30's, going 35 and 36 miles an hour my car ins is £44 pcm. My OH is 32 pays £26 pcm third party. Together that is £70. This was neither queried or investigated by the OR.
What help are you serving in the original request for Bankruptcy advice.
Surely you could save these 'helpful' comments.

dappanumber1

hi,

the insurance is in my wifes name she has just turned 25 on 2 years no claims, with me a 24 year old male with no no claims.

it is the cheapest i can get i've looked at confused insuresupermarket etc.

dog ins i will look at tesco. the reason i have this is because my old dog had to have a £500 operation, which failed and it still got put down. a lot of money which i said to myself when we get another dog i will get it insured!

there are probably other outgoings but my head is spinning at min and these are the main ones. dog food is extra from my shopping.

haircuts i go the barbers about £5-10 a month.

sky i will cut down.

18866 i didnt realise these were not as cheap anymore, will cut this out.

petrol, i am doing 50 miles a day give or take, 250 miles a week. 1000 miles a month, obviously this is approximate, but as we all know petrol aint cheap, so what shall i do? quit my job? i have to work in the city as in my town there arent as many opportunities in my line of work.

i find it really helpful but i do think some of you are a bit harsh about my situation. im trying my best. do you really think im in this position by choice? no, i try to do the best for my family.
i work full time, try and see my kids grow up, try and make it nicer for my wife to be with the kids in the day and not at nursery, (when we only had one child my wife worked but with two kids its a completly different ball game!) we all make mistakes, its horrible going a pub with your mates and not being able to afford to get a round in. having no money to afford shoes or coats or things that wear out or break. kids needing new things daily when i have no money. what do i say? they look smart but its all hand me downs and asda clothes.

anyone would think im wasting money for the fun of it, but im not believe me. for the past 3 years i've been trying to work my way out of this mess.

its all right saying cut back, but how can i cut back on £50 shopping a week for 4?

anyway sorry for seeming a bit mardy but i need advice (which i am getting) not put downs on what a terrible human being i am for driving work and owning a dog! (which seems to me like i am!)

cheers, adam.

savagevixen

Adam,
Don't worry and keep posting! You are doing great and you and your family are entitled to, and can have a better life than this. Generally the sort of advice you have been receiving is recserved for an alternative thread where people generally ask for people help and advice in shaving down their outgoings.
You have not done this, and I can't understand some of the posts you have received. You have specifically asked for Bankruptcy advice, understandably and justifiably. Good for you. I wish I had known about it years ago.

Bankruptcy 5 years ago would have saved us a lot of heartache, hassle and grief. We could have got on with our lives long ago. If it is right for you, go for it, you'll never look back!

Vix

thewayitis_2

I dont think people are trying to be harsh dappanumber1. The limited SOA you posted shows places where you can cut back, and so people have advised this. Having a full and complete SOA, then acting on it to reduce your outgoings and increase what you and the family have for essentials should be the first step in making any kind of BR decision, IMHO.

Visit the Debt free wanabees thread, if only to see examples of complete SOAs. After some finance rejuggling you might be able to pay an extra hundred or more off the cards each month, and see your debt start to fall. Or maybe you'll see that you are spending more than is coming in? Either way, the picture will be clearer.

Oldernotwiser

That's why I suggested some time ago that he also posts this on the DFW board, where he'll get a totally different viewpoint. Posters on here are understandably pro bankruptcy but on DFW they're keen to find ways of avoiding it. The OP really needs both points of view to help him make an informed decision, rather than just confirming what he's thinking of doing. It would also be useful if the more negative side of bankruptcy could be explained to him; some people seem to be giving him the "it's the best thing since sliced bread" hard sell.

gettingitsorted

We haft to remember the OP came to this board for help as they wanted more information on Bankruptcy ,which is in all fairness is what they are getting ,i can only echo what Bat has said which is that once the OP seeks advice through one of the proffesional agencies that have been reccamended then they will know what avenue they are best taking and can seek advice accordingly .

savagevixen

thewayitis wrote: »

I dont think people are trying to be harsh dappanumber1. The limited SOA you posted shows places where you can cut back, and so people have advised this. Having a full and complete SOA, then acting on it to reduce your outgoings and increase what you and the family have for essentials should be the first step in making any kind of BR decision, IMHO.

Visit the Debt free wanabees thread, if only to see examples of complete SOAs. After some finance rejuggling you might be able to pay an extra hundred or more off the cards each month, and see your debt start to fall. Or maybe you'll see that you are spending more than is coming in? Either way, the picture will be clearer.

The limited SOA shows a few areas, where small cutbacks can be made, areas where he clearly does not have enough funds to support (groceries) and areas that he has completely forgotten to include.(Car costs, dog etc)

Why is everyone so determined to have an SOA of his to tear apart. The chap sounds like he is being responsible and trying to deal with it as well as work and look after 2 small kids!

It is evident that when he includes the things he has omitted, his SOA is not going to be that great.

DFW is a terrifying place. I find it very intimidating and hated posting there. He does not have to do that at all. It is up to him, and posts people have put here, will, I am sure put him off.

It is like inviting him to be torn apart and shot down.

The CAB and CCCS will be just as able at helping with his SOA.



P.S. I am not saying that DFW is a bad place at all, but he posted asking for bankruptcy advice and was not expecting people to tell him to cut his car insurance down!!! DFW is great for people who require that support.

savagevixen

Oldernotwiser wrote: »

It would also be useful if the more negative side of bankruptcy could be explained to him; some people seem to be giving him the "it's the best thing since sliced bread" hard sell.

I don't see any evidence of that. It maybe the best option for him, it may not. A proffessional will be far better able to judge, as we have very little to go on. The point is bankruptcy is not terrible and in some circumstances it is the best thing to do. We struggled for 8 years and in fact we could have sorted things out much earlier. (Perhaps not via bankruptcy if we had had access to the information available now)

Why on earth would anyone imply it is 'the best thing since sliced bread'? Have you done it?

It is scary, terrifying, self-esteem destroying, guilt-inducing, embarrassing and expensive.

If it is the right step for you and your family however, it leads to a better, easier, less-stressful way of life. Providing a fresh start and a chance to never repeat previous mistakes.