SOA please help me

Helptabitha

I am new to this forum and have been thinking about bankruptcy for a while, most of my debt was caused by my abusive ex partner and a lot of that abuse was financial so i am keen to shift it and get on with my life. I have 2 young children (3yrs and 1yr) and live in local authority housing. Any help would be appreciated. thank you.

Income
Monthly Income after Tax.........................................................................758
Working Tax credits...................................................................................268
Child Tax credits........................................................................................498
Child Benefit...............................................................................................146
Housing benefit..........................................................................................216

Total monthly Income......................................................................................................1886

Expenses
Rent(includes water)................................................................................460
Council Tax................................................................................................50
Food and Toiletries (including nappies)..............................................380
Electricity....................................................................................................37
Gas..............................................................................................................88
TV Licence................................................................................................12
Clothing & footwear.................................................................................83
Telephone (Landline)............................................................................ 20
Telephone (Mobile).................................................................................20
Virgin TV/Internet (no freeview signal in area)...................................16
Road Tax..................................................................................................10
Car Insurance..........................................................................................30
Car maintenance....................................................................................20
Petrol.........................................................................................................80
Childcare (this is paid to my mum to cover her costs).....................200
Haircuts....................................................................................................20
Presents (birthdays,christmas etc)......................................................20
Entertainment/outings...........................................................................10
Holidays...................................................................................................20
Emergency fund.....................................................................................20

Total Expenses..................................................................................................................1596

Total surplus income (i don't see this money at the end of a month)........................290

Unsecured Debt Total (credit cards/overdraft)............................................................24600

I own a vehicle which i use for work which is worth about £900

Thanks x

Helptabitha

oh that came out a bit wonky

egrescrimp

Do you have a written agreement for the child care? if not, the OR may refuse it.

Increase your holiday fund to £40 (£20 for an adult, £10 per child).

You drive but never pay for parking, are you sure?

Presents won't be allowed in bankruptcy unfortunately

Helptabitha

Thank you for replying, this is what i thought as its my mum and shes not an approved childcare provider but if she didn't have the children i wouldn't be able to work. i can't remember when i last paid to park as i either park at home or park at work and it doesn't cost, i avoid the town which would be the only place i would have to pay, but the OR won't know that so could i put a small amount down for it?

owlet

It's best to allow for parking, you never know when you will need to pay for it.

What about contents insurance, dental, optician & prescriptions?

Helptabitha

Thank you owlet. Yes i don't currently have contents insurance, this is something i need to arrange. i haven't long been at my current address (my safe house). i get tax credits which cover dental and prescriptions and my work pay for eye tests.

Helptabitha

i really don't know what to do now if the OR won't except the childcare cost which only just about covers my mums expenses for having the children.

TheGardener

Even one trip to town a week can cost £10 a month in car parking/other travel
But do work pay for glasses?
The payment to your Mum might be difficult - can you get registered childcare? (Even if its in the short term)
Petrol is quite conservative - have a look at your mileage and make sure its enough.

With so much of your income being from benefits (nearly 2/3rds) it is unlikely (but not impossible) you are in IPA territory

ess0two

Helptabitha wrote: »

i really don't know what to do now if the OR won't except the childcare cost which only just about covers my mums expenses for having the children.

Reduce it to £20? and put the £180 against food

Helptabitha

ok thank you everyone, i feel a bit better about this and should just go for it and see what happens. thanks again.