Bit of advice if you dont mind

plonker

With regards to BR
Can we include a 4k tax bill or is it something that you have to pay
HP on a car, would we be allowed to keep it ? Had it for 2 years, 3 years left to pay
Animals - can anyone make us sell our dogs? Have heard that bailiffs can take them to repay a debt but not sure if they are classed as assets

Thanks for you time, not 100% sure this is the way for us yet, just looking at all options

Richard_S

plonker wrote: »

With regards to BR
Can we include a 4k tax bill or is it something that you have to pay
HP on a car, would we be allowed to keep it ? Had it for 2 years, 3 years left to pay
Animals - can anyone make us sell our dogs? Have heard that bailiffs can take them to repay a debt but not sure if they are classed as assets

Thanks for you time, not 100% sure this is the way for us yet, just looking at all options

Hi plonker,

The £4k tax bill is included; no doubt, no problem, kiss it goodbye.

Cars are never straightforward, depends on the reasons why its essential and not just convenient.

Regards

Richard

scaredwitless32

You mean they CAN actually make you rehome your animals? :eek: Ok Im really panicking now, there is no way in hell that I am letting our 2 dogs go, one of them is 10 and the other 7! .........god now I know I wont sleep tonight

scaredwitless32

[FONT=Verdana, Arial, Helvetica]31.7.30 Pets

Pet food/care should, in general, be included as part of the family housekeeping expenditure when making an income payments calculation. If the bankrupt has not included the cost of caring for a pet within the housekeeping expenditure then an allowance of up to £20 per month can be included for the care of all family pets. Should the bankrupt maintain above average numbers of pets, or exotic pets requiring specialist food/care, he/she should be informed that the additional cost of funding the pet(s) must come from the amount of surplus income left with him/her after deduction of the assessed IPA/IPO contribution.

Found this if it helps at all! (Found on another bankruptcy forum)
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backontheup

I am certain that they wouldnt make you rehome a family pet. Please get advice, and I am sure that they wouldnt force the issue.

Plus, how would one declare a dog an 'asset'? If one were to even consider putting it on the form in the first place.....

plonker

Thanks for the help, can I ask if this SOA will be accepted by the courts, I know its not 100% but just wanted a rough guide if you don't mind

6 of us live here, myself and husband and 4 kids, 15,12,9 and 4

INCOME
Wages £812.00
Working Family Tax Credits/Childs Tax Credits £720
Family Allowance £217
= £1,749 per month
EXPENDITURE
Rent £280
Housing Benefit overpayment £40
Coucil Tax £100
Electric £112 (Includes arrears)
Gas £47
Water £47
TV Licence £11
Car Finance £165 3 years left
Car Insurane and AA Cover £60
Petrol for work £100
Phone £40
Mobiles £20 PAYG £10 each a month
Shopping £400
Pets £30
Clothes for 6 of us £60
Childrens Hobbies £40 (£2.50 each a week)
House maintenance £50
Xmas/Birthdays £50

= £1652
Left with £97.00
I have used Payplan's guide to work this out and this is all based on the average spend for our family, so please don't shout if you think it's too much

plonker

Rough guide of our debts

Hubby's
4k Tax bill
9k Bank Loan
5k Credit card
3k HFC

Mine
All stupid ones
Credit card 1 £180
Credit card 2 £900
Catalouge 1 £1,100
Catalouge2 £400
Catalouge3 £1,000

I know, I know no excuses we have been dreadfully stupid

Another question, due to my husband being on minimum wage and claiming wftc do you think we would get a reduction in the cost to go BR ?

skylight

Dont ever get defensive with your SOA's!! But you must be realistic.

Although these are guidlines with Payplan, are they realistic for your family? You haven't left anything out? It is important - the OR does not want to see you back, and leaving yourself short may lead to future debt issues (although probably not after finding MSE!)


The only problem will be the car finance - car finance is regarded as a debt and the car as an asset. Cars are the biggest issue within BR. Guidelines (I believe) are that they look at any car valued over £1000. However, they can allow money back for you to buy a cheaper car if you really need one (work etc). BUT reading different boards about BR and cars, it is obvious that each OR takes each car on different merits and this is a big grey area with no real "rules" as such. You will need to take advice from an insolvency practitioner.

With regards to pets, I have never come across anyone having a family member being taken away. Unless the pet is a pedigree worth zillions, it is not an asset. If that were the case, you could put your kids down as assets! Mines, chimneys and stuff, the OR could put them out to work!

Good luck with all your options and get as much advice as possible!

skylight

http://www.debtquestions.co.uk/debt_forum/

Try here. Its another debt forum and also has specialised BR boards.

JCS1

The OR want take any action with regards to pets - unless they are valuable pedigrees! With regards to your outgoings, you can put the amount for Xmas/birthdays on the form, but the expect the examiner to reject this as it is not classed as an essential expenditure

debt_doctor

Your pets are safe ( not that your going to mention them on the BR forms anyway ) S for your expenditure your h/k could go up to £800, your clothing could go up tp £120. Trim back the phone. Always difficult as to wether you can prove essential car use. If OR wont allow this then you could put a reasonable amount for all of you travelling by other means. Change xmas to personal expenses.

Also your elec arrears will have to go in to the bankruptcy and your benefit overpayment will continue to be paid whilst your undischarged and the remining balance on discharge will be written off.

Child tax credit should nt count as income, complain if it does.

Best wishes