Bankruptcy income payment agreement

F4286

Hi all,


Could really do with some advice. Recently I went bankrupt, I was on a debt management plan for 2 years prior which I was paying £550 each month for but it just become too much for me and I was constantly struggling get to end of the month without any money and constantly borrow off my family etc.


I made the decision to go bankrupt thinking about being able to start fresh and relieve the money stress off me, as of yesterday, the official receiver sent me my income payment agreement and want £700!!! each month for 3 years!!! I was absolutely gobsmacked by this amount, its £150 more than my debt management plan which I struggled with!


I bring home £2000 after tax and NI, I have to commute to London 4 times a week and live over 100 miles a week, driving the and back basically cost me around £600 per month in fuel, my car is on finance and as a result I'll end up losing it and will have to get a train to London which will cost me around £750 per month for a monthly ticket as well as needing to purchase and use an Oyster card which will probably cost me around £200 on top! Also, to get to the train station and home again I will need to purchase a bus ticket which for a monthly card it is £65! So just on travel costs that is pretty much £1000 gone already and after £700 goes I have £300 left to pay rent, house hold bills, council tax, look after my dog, be able to pay for food! Also my dog has a cancerous tumour which she had same problem 4 years ago which cost £700 for back then!


I am so stressed out about the situation and not been able to sleep, there is no way I can afford to pay £700 back each month for 3 years! It will literally be impossible for me to ever get a car again as well!


I am not going to sign it and appeal it but how much chance have I got them reducing it? Also, this situation has put me in a worse predicament, I struggled paying back £550 let alone £700!!!!


Please could I have any advice,


Many thanks

luvchocolate

Please put you S.O.A. up here and the very clever people will look at it for you.
Be aware its quiet on a weekend so do not panic if response is slow.

TheGardener

As luvchocolate says - there is not much we can do until we see your SOA.
It is an agreement and you don't have to sign it until you are as happy as you can be with it.

Muttipops

Seems to me that OR is going on your income and current expenditure as it stands at the moment with you using a car.
Is he/she aware of the extra costs you will have once the car goes?

F4286

Hi,


Thank you very much for the replies.


This is/will be my current out goings after losing the car:


£743 for a monthly rail card travelling to and from London
£300 rent
£200 for travelling with Oyster card
£200 food cost at home and whilst at work
£120 council tax
£100 Broadband, home phone, tv & mobile phone package
£70 Heating, lighting & water
£63 monthly bus ticket
£50 Clothes
£10 Dentist
£50 dog food
£50 per month vet bill for reoccurring skin condition paying for treatment
£40 Laundry


Obviously being able to have a slight social life which wasn't sure if you're allowed to put down?


My dog also needs to be booked into vets to have a cancerous tumor removed which cost 4 years ago £700!

I also need to be able to find money to eventually buy a car.


I'm sure there are probably other little bits which I may be forgetting?


I spoke to the official receiver and she said just explain in email the circumstances of not having a car etc and also put in anything else I may have forgotten because its easy at the time not to mention everything.


Many thanks again for replies

philnicandevan

try filling in this one & save for MSE

http://www.stoozing.com/calculator/soa.php

this is better to work with...

The_Real_Cheddar_Bob

F4286 wrote: »

Hi,


Thank you very much for the replies.


This is/will be my current out goings after losing the car:


£743 for a monthly rail card travelling to and from London
£300 rent
£200 for travelling with Oyster card
£200 food cost at home and whilst at work
£120 council tax
£100 Broadband, home phone, tv & mobile phone package
£70 Heating, lighting & water
£63 monthly bus ticket
£50 Clothes
£10 Dentist
£50 dog food
£50 per month vet bill for reoccurring skin condition paying for treatment
£40 Laundry


Obviously being able to have a slight social life which wasn't sure if you're allowed to put down?


My dog also needs to be booked into vets to have a cancerous tumor removed which cost 4 years ago £700!

I also need to be able to find money to eventually buy a car.


I'm sure there are probably other little bits which I may be forgetting?


I spoke to the official receiver and she said just explain in email the circumstances of not having a car etc and also put in anything else I may have forgotten because its easy at the time not to mention everything.


Many thanks again for replies

You may want to look at what outgoings are considered essential and think about your personal circumstances.

The OR will have a different opinion to you on what is considered essential. When i had to fill in my form it pretty much read as the OR will take everything considered spare income.

I havent looked for a while but i would say a number of items you have written above wouldnt be considered essential, such as broadband, tv and therefore you will find it hard to argue against the OR's request for £700.

slickric1234

its going to be quite hard to argue travel costs of over £1000 a month whilst earning £2000 a month after tax

does your employer not cover any travel costs?

have they told you how they expect you to get to work
do they expect you to use a cheaper method of transport like a coach even if impracticable

F4286

Is there a list I can view essentials ?

My employer does not cover any travel costs, I work for fire brigade, the only saving grace is I have a transfer in locally but there isn't a time frame when that will be.

They haven't mentioned anything to do with how they expect me get to work but a coach would take me 3.5 hours meaning I wouldn't get home till 1230am ish then would have to book a taxi by time I'm at my home address would be 1am to be up for 4am to get a coach?

I also could see any coaches that run at time I finish work as well

The_Real_Cheddar_Bob

You need to consider the following:

- staying employed and losing lots of your income over the next 3 years
- quitting your job and sitting it out for a year

luvchocolate

please fill in the S.O.A provided in the link then we can help