Advice on SOA for Bankruptcy forms

77blondie

UPDATED***** Statement of Affairs

My Income 1352
Husband contribution 1000 (this is half of what the household bills are)
Child Benefit 147.00
Total Income = £2499.00

Outgoings
Rent 550.00
Food 500.00
Electricity/Oil 180.00
Telephone 65.00
Clothing 85.00
Other essential payments 1101.00

Total outgoings 2481.00

Included in other essential payments:
Car Insurance 34.00
Car Tax 15.00
Petrol/Parking 120.00
Home Insurance 10.00
Life Insurance 19.00
TVLicence 12.00
Sky/Broadband 65.00
Hair (Me & 2 kids) 50.00
Leisure/hobbies 40.00
Emergency Fund
Childcare 450.00
Magazines/Newspapers 20.00
Health Ins 21.00
Holiday fund/Birthdays/Xmas 100.00
Car Maintenance 30.00
School dinners 40.00
Schools trips and activities 10.00
Pocket Money 10.00
Meals at work for me 15.00
Dry cleaning for me 10.00

List of creditors

Negative equity in mortgage £64106

Unsecured

Ulster Bank 8752.00
MBNA 3919
Barclaycard 4417
Next 539.00
DLC (Orange) 24.00
HMRC (Tax Credits Overpayment) 2648.00

Total outstanding £84405


Just wondering how my Statement of Affairs are looking now please

egrescrimp

You'll need to drop the pocket money as thats not accepted in Bankruptcy

As I said earlier, if you want to keep Sky you are going to need to deal with that elsewhere You've got room for it in your clothing section so increase that and decrease your Sky subscription

77blondie

egrescrimp wrote: »

You'll need to drop the pocket money as thats not accepted in Bankruptcy

As I said earlier, if you want to keep Sky you are going to need to deal with that elsewhere You've got room for it in your clothing section so increase that and decrease your Sky subscription

Oh just went on the Stepchange guidelines. Oh well I'm nearly there. Now just to arrange to pay deposit and head to court with my forms eeek!!!!!

egrescrimp

77blondie wrote: »

Oh just went on the Stepchange guidelines. Oh well I'm nearly there. Now just to arrange to pay deposit and head to court with my forms eeek!!!!!

Those guidelines were for a debt relief order they were to give you a little bit of an insight into why I said you'd have a hard time trying to get the £600 you initially wanted for food/housekeeping for a family of 4.

Theres a chance some of the things you've listed will be decreased but you've filled up a lot more of your surplus income than before.

Others may have suggestions on how to improve it more.

Good luck for the future and have a drink you deserve it :beer:

77blondie

Last question - car - worth £1250-1500. No finance on it. Will they take it? Needed for work as worth in conferencing company and need to travel to events

egrescrimp

77blondie wrote: »

Last question - car - worth £1250-1500. No finance on it. Will they take it? Needed for work as worth in conferencing company and need to travel to events

They should let you keep it as it's needed for work, but even if they decide they have an interest in the car you can ask to buy the OR's interest in the car minus whatever fees they would incur for selling at auction.

77blondie

Will they allow you to pay them gradually for for?

egrescrimp

77blondie wrote: »

Will they allow you to pay them gradually for for?

I don't know the answer to that one, Sorry but the amount should be less than what the parkers guide says so try and put a little by if possible or ask a family member to buy the OR's interest if they show any.

mill1980

You've got nothing in emergency find could you swap the pocket money into that? I understood you were allowed £10 per person for emergency in either England or Scotland (I'm scotland and our trustees accept exactly what step change dmps say are maximum amounts and a bit more in some cases) but sure emergencies are £10 each but someone might correct me