Bankruptcy scares the life out of us

rog2

scaredwitless32 wrote: »

Thats exactly what I thought too. She told me to go into the Debt remedey bit and imput all the figures etc, then add my wage as if it was a full time wage, and then see what happens to the outcome.......... I guess she wanted me to see how little it would take to change the outcome from BR to a DMP, but even if I increased my wage by £500 per month it still came out as BR

Me confused too . If you are only working part-time, HOW on earth can anyone expect you to play with the figures to show the full-time equivalent.
I agree with Blind-as, if it your OH going for bankruptcy, your earnings have absolutely nothing to do with his petition.
The ONLY time that your income will be taken into account is by the OR, for the calculation of any IPA/IPO after his bankruptcy.

scaredwitless32

Financial Summary

Monthly income = £1354
Total outgoings = £1348
Monthly contractual payments = £397
have 6 creditors
total credit debt = £16793
have £6 left over each month once you have covered
all of your priority expenditure.




my take home pay £133

my partner's take home pay £920


Working Tax Credit £31

Child Benefit £83

Child Tax Credit £187


Total income £1,354


Rent £242

Water/sewage £44

Council tax £172(is so high because by the time the benefit office did their review and told us that we had been overpaid, we couldnt stick to the original payments of what would have been just over £100, as it was a few months in the new financial year, we have tried to get it reduced but they wouldnt budge, and told us that if it wasnt paid we could go to prison!....charming eh?)

Gas £37

Electricity £50

Building and contents insurance £11

Telephone, mobile & internet £50

TV licence £12

Satellite £21

Repairs and maintenance £25

Vehicle spares and servicing £20

Road tax £14

Motor insurance £30


Fuel & parking £40

Food & housekeeping
Food, toiletries, cleaning £400

Pets, pet food/insurance £40 2 dogs, 1 cat & various Birds

Tobacco £40

Misc. goods & services

Education fees £17

Clothing & footwear £40

Sundries/emergencies/other costs
Sundries/emergencies £30



Total expenses £1,348
Additional information Comment
No of adults 3 ( this includes my 18yr old son who will be at college come sept)
Dependants 1

Totals Amount

Total income £1,354
Total expenses £1,348
Surplus (Deficit) £6

Creditor List

Lloyds tsb unsecured loan, £12k+ sum

Lloydstsb overdraft £500

Lloydstsb cc of £2,000 + or- a couple hundred.

Benefit over payment (rent rebate) £800 (which we are paying at £40.00 pm)

Rent arrears £379 (we pay £12.75 pm)

Catalogue £187 @£5 pm

Our circumstances, Me and partner, one 16yr old and an 18yr old, two german shepherds, one cat, 2 cockatiels, and a shed full of pigeons (my OH's I might add NOT mine) thats why pet bit is sooooo high!
OH was made redundant dec last year and instead of sitting on his butt and claiming benefits, he found work temping, which was horrid as he never worked the same hours in any week(couldnt rely on steady income)! Hence applying for housing?Council tax benefit. He then found a full time perm job, after many interviews , that was in feb, only problem was it was for 1/2 the wages of previous job. We have no assests whatso ever, we rent from local authority, no savings, nothing We have now used up what piffling little redundancy money he was entitled too and thats how we have gotten to this place in time.

He is soooooo very worried about having his car taken away as he only uses it to commute to and from work, its not that far away either, and he also owns a VERY unreliable motor bike too, neither of them are worth much as they are both over ten years old, and its still a novelty to have a car as he only just passed his test, nov 06.
He is also worried that we will not be able to go a holiday to devon later in the year that we booked, it was one of the 9.50 ones, through THE SUN newspaper. It was something to look forward to as we have had a couple of crap years, and we have never been away before in the 20yrs we have been together.....(isnt that sad.............awwwwww lol)The loan came about to pay off the credit cards which we ran up when we had a low point some time ago. And I have to admit that I put my fair share of crap on the card too. And over the christmas period again we used the card.



So what do you guys think? (be gentle, please! lol) is BR right?

I did play with the figures on the cccs site and imput my wages at £500 pm and it still came out with BR..........I really could nt go full time work with the two dogs, and leave them home alone, or we will be getting an ASBO to boot!

Thanks for any advice in advance :T

scaredwitless32

Is it possible for my OH to get his wages paid into my back account by BACS, or does it have to go into an account in his name, he has applied for a new account but hasnt had a yeh or nay yet, and I worried about it getting to late to change details with his employer, if his wages goes into HIS bank account, we will have NOTHING to live on for the rest of the month as they will take the lot , re overdraft and credit card etc!

Also, what do you think about our SOA as above, after reading alot of the posts on here, Im feeling, 'guilty' if you like that our 'problems' really are not as bad as some others here , I hate the thought of going BR and it worrys the life out of me, do you think this is the 'easy option' for us? I hope I dont upset anyone, its just that Im trying to justify to myself that this course of action REALLY is the best route. Our circumstance are not about to change anytime soon though, and thats what I keep coming back too.
Thanks

rog2

scaredwitless32 wrote: »

Is it possible for my OH to get his wages paid into my back account by BACS, or does it have to go into an account in his name, he has applied for a new account but hasnt had a yeh or nay yet, and I worried about it getting to late to change details with his employer, if his wages goes into HIS bank account, we will have NOTHING to live on for the rest of the month as they will take the lot , re overdraft and credit card etc!

Yes - this is probably the best solution, until your husband has been declared br - then he can open a basic bank account. Make sure, however, that you do not change your account into a joint account.

scaredwitless32

Thanks for that Rog2

I have just been reading through the papers for the court and a couple of things flagged, will the fact that the tenancy is in my name (and always has been) and the gas and electric bills also come through in my name too, will this in any way be a problem? As he is the 'bread winner' should i get the bills changed over into his name? or am I just looking for problems!

Could someone please be kind enough to give my i/e the once over for me please?

Thanks so much

rog2

scaredwitless32 wrote: »

I have just been reading through the papers for the court and a couple of things flagged, will the fact that the tenancy is in my name (and always has been) and the gas and electric bills also come through in my name too, will this in any way be a problem? As he is the 'bread winner' should i get the bills changed over into his name? or am I just looking for problems!

The tenancy being in your name should cause no problems whatsoever.
I would advise AGAINST changing the gas/electric bills at this stage - it will serve no purpose, as OR will take these into account anyway. Equally, it could cause problems with your suppliers, for example if you wish to change supplier in a year's time.

I will have a look at your I/E, but I am not very good with those - there are others who are more knowledgeable than me.