Bankruptcy SOA advice please

amizaki

Nikki702

Don't worry, as you explain earlier you mentioned all actual cost and which you can proof or justify. Like, medical expense, childcare, meal at work etc when tomorrow OR call you, just explain your side, why you given such figure.

I would suggest, please go thorough all the amount you mentioned in the application...and put notes against each of them try to do as much as you can remember tonight...and tomorrow when OR call you please keep this note with you so that you can explain your situation. If OR not agree, he or she can ask receipt, statement, invoice, something to proof...

So, once again...don't worry... just think and try to note down all the reasons of those figures..

debt_doctor

TheGardener wrote: »

I think this is one for Debtdoctor because I don't see anything unreasonable in your SoA - a single Mum earning less than the national 'average' salary you should not be paying an IPA in my view. Hopefully Debtdoctor can assist

I think it is one for me too - I don't see any justification for an IPA, and I will fight it on the OPs behalf if necessary.
PM received and replied to.

DD

nikki702

debt_doctor wrote: »

I think it is one for me too - I don't see any justification for an IPA, and I will fight it on the OPs behalf if necessary.
PM received and replied to.

DD

Thank you I will update tomorrow

toffee_pie

im not a financial advisor but i would look at all the underlined and question if you can reduce or eliminate entirely - it seems you cant afford a pet unfortunately let alone at over 50 GBP per month, thats the stark reality of the situation, can you lend your pet to a friend or family member

you really need to evaluate your outgoings, keep the faith

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 520
Management charge (leasehold property).. 0
Council tax............................. 89
Electricity............................. 50
Gas..................................... 65
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 10
Mobile phone............................ 40
TV Licence.............................. 12.83
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 400
Clothing................................ 50
Petrol/diesel........................... 80
Road tax................................ 17.06
Car Insurance........................... 63.72
Car maintenance (including MOT)......... 20
Car parking............................. 15
Other travel............................ 0
Childcare/nursery....................... 60
Other child related expenses............ 23
Medical (prescriptions, dentist etc).... 60
Pet insurance/vet bills................. 56
Buildings insurance..................... 0
Contents insurance...................... 8.47
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 30
Entertainment........................... 35
Holiday................................. 25
Emergency fund.......................... 30
Meals at work........................... 50
Work Union.............................. 15.57
Total monthly expenses.................. 1915.65

Maverick1103

nikki702 wrote: »

Thank you I will do that, with these basic accounts do you get a debit card? I already have a Monzo account. I was reading on another post that the Monzo account never got frozen.

amizaki wrote: »

Yes...all mentioned basic accounts come with contactless debit cards.

About Monzo, unless you have overdraft facility and OR have no objection to keep open that account, they will keep the account as it is now...

I can confirm my Monzo account never got closed when I went Bankrupt when I applied 1 year ago yesterday, I had a Nationwide Basic account and a Monzo one, both remained open.

Minkym00

How were you paying your creditors pre-bankruptcy if you are only breaking even now?

nikki702

Minkym00 wrote: »

How were you paying your creditors pre-bankruptcy if you are only breaking even now?

My relationship has broken down so I am having to do everything myself now. I was also getting help from my parents but they are now unable to help due to their own difficulties

Minkym00

Oh, ok.

To be blunt though, if you’re asking for £520 per month for food and groceries (inc your meals at work) for only two people, I would be surprised if you weren’t pulled up on it. I spend that on a family of 5.

luvchocolate

Minkym00 wrote: »

Oh, ok.

To be blunt though, if you’re asking for £520 per month for food and groceries (inc your meals at work) for only two people, I would be surprised if you weren’t pulled up on it. I spend that on a family of 5.

I see no problem with groceries this is fine.
OP you will get many different views on S.O.A on here and some posters do not understand the difference between one for trying to budget and one for B R.
For B.R its important you give yourself enough to live on.
I am happy Debt Doctor is helping you and I would follow his lead as he knows his stuff.

MoominTroll

I also had a deficit and no surplus but was made to enter an IPA agreement. You apply for bankruptcy thinking that will be the end of it, but it's not. There's another three years of making payments you can't afford to make before you can even try to get back on your feet, and you pay £680 for the privilege.