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Household surplus income question
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Thank you for your replies. It really does help that some people at least understand my position. is poke to a bankruptcy expert on the phone who essentially told me the same as the Stepchange person.... and kept on stating that it was fair and I think got frustrated with me saying that it wasn't! He told me that because I put my income on the BR form it was too late because the OR knew and if I'd contacted him earlier I could have just not ut my income or said my partner was a lodger... how is that fair?? That if you are honest with the OR you are penalised?! He estimated that the OR would say we should have an 80/20 split so then my partner would have surplus income for an IPA ... which OF COURSE means I am indirectly paying for his debt, I am so upset, only been living with him 6 months, fairly new relationship and no debt at all from when have been together...
Thank you so much for the advice re the SOA, I will post when the we get the forms through0 -
You can use this link to start drafting the SOA and at the bottom there's a button to format it to put on this forum.
http://www.stoozing.com/calculator/soa.php
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The OR (a different person to the one we spoke on the phone with...) has sent all the debtors a letter stating that a bankruptcy order was made against my partner on 22/10/18, and that they are investigating cause of bankruptcy and dealing as Trustee
It states in the letter assets and debts, and states no assets and that there is not a prospect of money being returned to creditors. It also states it is unlikely that they will need to contact again as it is unlikely there will be creditors.
We havent received the income and expenditure form through that the OR we spoke to on the phone said we would so I am not sure where we are at now0 -
rufusthedoofus wrote: »He estimated that the OR would say we should have an 80/20 split so then my partner would have surplus income for an IPA ...
What is the split between your incomes? 80/20 or the 2/1 as you want to divide household expenses?
It seems to me that you and OR are talking about two different ways of making the same calculation - but in the ideal world they should reach the same answer.
In your way you divide the household income into two - yours and his, and you divide the necessary expenses into two - yours and his. Take his share of the expenses from his share of the income and that is his surplus. Is this what you are thinking?
In the other way the OR seems to be taking all the household expenses away from all the household income to get the household surplus and divide that between the two of you. If this division is proportion to your earnings, and his existing debt repayments are not included as expenses then these should give very similar answers.But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0
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