"Beat the Bailiffs" FB Group

Willing2Learn

You might find that starting a spending diary or spreadsheet useful to keep track of your expenses as you need to know your monthly outgoings. The same diary/spreadsheet could also be used to calculate or keep track of your mean monthly income.

chasingsolvency

Willing2Learn wrote: »

You might find that starting a spending diary or spreadsheet useful to keep track of your expenses as you need to know your monthly outgoings. The same diary/spreadsheet could also be used to calculate or keep track of your mean monthly income.

Thanks. I've just got an app for it actually 'Account Tracker', just need to get it set up

sourcrates

You need to have less than £20 disposable income to avoid an IPA.

chasingsolvency

sourcrates wrote: »

You need to have less than £20 disposable income to avoid an IPA.

Ok, the IPA is for three years, is that correct? I've read so much trying to understand it all. Think my best bet is to ring Step Change now that I've got my debt amounts in order.

Would the tax credits overpayment and student grant overpayment be taken into account in the bankruptcy? I know student loans aren't, haven't included them in the details above for that reason.

MovingForwards

You in Scotland as you have nothing for water/prescriptions.

You need to put a figure in for pets.

Can you get a cheaper phone plan or are you in a contract?

Nothing for internet/tv? Is it really nothing? Only checking as you have kids.

How old are the kids and b/g? Looking at the clothes bill and hairdressing costs.

Do you spend £600 a year on presents?

Only looking at ways you can move money around to cover outgoings acurately.

chasingsolvency

MovingForwards wrote: »

You in Scotland as you have nothing for water/prescriptions.

You need to put a figure in for pets.

Can you get a cheaper phone plan or are you in a contract?

Nothing for internet/tv? Is it really nothing? Only checking as you have kids.

How old are the kids and b/g? Looking at the clothes bill and hairdressing costs.

Do you spend £600 a year on presents?

Only looking at ways you can move money around to cover outgoings acurately.

Water is included in rent and all of our prescriptions are free.

I've cut down the dog's food from £80 to £12, they're now on rubbish food which kills me but needs must for the time being. Any idea what would be a suitable amount for vet bills for three dogs? They might not visit a vet at all or we might have bad luck like the almost £2k bill earlier this year They're not insured, yes I know it's risky!

We don't have a TV licence, do currently have BB and landline at £50 p/m (stream tv via BB) but I've ended the contract, it finishes on 05/09 so I didn't include it in my budget. We don't spend a lot of time at home and I'm trying to cut outgoings as much as possible. We could always go back to having a TV licence and Freeview if we hate being TV-less!

One girl aged 6, two boys 9 and 11. Is £600 p/y too much for presents, I'd that's pretty accurate...?

chasingsolvency

Oh and re mobile, is £25 a month considered high? It's a pay as you go sim with a lot of data which I do use.

MovingForwards

Ive never had pet insurance for any of my cats over the last 23 years and always just dealt with vet bills/funerals as and when required (meant cutting right back for a month when needed) but I also know dogs tend to command higher bills.

I would look at wiggling your figures round a bit, effectively robbing peter to pay paul. Pull £200 py from the presents, clothes and hair dressing to make up your £200 vets fees.

How much is a lot of data and which company are you with as someone may be able to recommend a better one.

If you do decide you want a TV again, consider netflix etc as no licence is required as it isnt live TV.

jimbo747

You spend £200 a month on petrol , I imagine that's mostly because of your job, yet it brings in £300 or so. Add on tax, mot and insurance and that's another £125 plus other expenses (£25 phone, child care?) is it worth it?

fatbelly

Honestly, this looks like a bankruptcy situation to me.

Any reason why not?