Nearly there

stundent

So my forms are in and my court date is the 11th of June.

I'll put my spa below see if anyone can see the obvious challenges

Cheers

stundent

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 981
Partners monthly income after tax....... 386
Benefits................................ 870
Other income............................ 0
Total monthly income.................... 2237

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 451
Management charge (leasehold property).. 0
Council tax............................. 75
Electricity............................. 65
Gas..................................... 60
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 25
Mobile phone............................ 30
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 520
Clothing................................ 160
Petrol/diesel........................... 180
Road tax................................ 13
Car Insurance........................... 50
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 130
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 6
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 40
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 40
Rent arrears............................ 44
Meal at work............................ 40
House maintennxw........................ 20
Education............................... 100
Total monthly expenses.................. 2277


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,237
Expenses (including HP & secured debts). 2,277
Available for debt repayments........... -40
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -40

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

stundent

The above takes my wife's income after her hpi payment, also on the forms I have listed the benefits received (tax credits and child benefit) in my wife's contribution as they are named to her (on the tax credits forms it says paid to wife)

egrescrimp

The rent arrears, I assume those are because the tenancy has your partners name on it?

What is Education at £100, seems rather high?

You have a car but never pay for parking? I'd put in £10 to £15 per month for that.

Do you get prescriptions for free?

stundent

Hi thanks for the reply,

Education is the cost of books, tech, bindings and stationary as I am at university (all all my income is student finance)

Yeh missed parking, but I assume I can add when I speak to the or

Thank you

And prescriptions, dentists etc are free due to tax credit exemption

egrescrimp

If your income is made up of a student loan, I wouldn't really worry about the SOA - the OR cannot take that money so probably won't even look at your expenses: https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part7/part3/part_3.htm#31.7.78

They can't touch your partners income as part of your bankruptcy, so long as your income stays as a student loan throughout your bankruptcy, your 12 months will fly by and you'll be able to move on with your life

stundent

Hi again, and thanks again.

Just to clarify, all my income comes from student finance England, but is not all loans. It is made up of 40% loan 60% grants and allowances.

I too believe this I to Be untouchable due to it coming from central government and effectively coming under the definition of state benefits from the technical manual.

Cheers

stundent

Hi again, and thanks again.

Just to clarify, all my income comes from student finance England, but is not all loans. It is made up of 40% loan 60% grants and allowances.

I too believe this I to Be untouchable due to it coming from central government and effectively coming under the definition of state benefits from the technical manual.

Cheers

egrescrimp

I would get it confirmed before going bankrupt personally, one of the debt charities like StepChange or National Debt Line might be able to confirm that. You could also call the insolvency helpline, they might be able to confirm it too as it's not case related - https://www.gov.uk/the-insolvency-service

Best to be prepared, you don't want any nasty surprises, I say that because 31.7.79 says they can use a bursary scheme for collecting an IPA.

stundent

Hi, it's impossible to get confirmed lol, I've tried everyone.

They point to a price of legislation that has been repealed as providing their guidance. We shall see soon enough.

I will let everyone know once it's done.

Even at worst case I think the ipa would be around 150, which whilst not ideal is reasonable