URGENT.. Statement of affairs BR HELP

Legacy_user

Hi everyone, really desperate to apply for bankruptcy (have a court date due next Thursday and ideally would like to get this application gone by tomorrow) but having problems with income and outgoings. We are always skint and on paper its looking like we have £258 spare each month? I dont get it?! If we did id have no problem paying towards my debt but we are due wages next friday and already at zero! So we will struggle if they make us pay more! Can someone look at my outgoings (both me and hubs applyiny seperatly and we have two children)
Wages £1500
Benefits etc £780

Rent:469.25
Contents insurance: £11. 69
Tv license £12.99
Council tax £120.00
Electric £160
Water £44
Firewood £20
Vet costs £25
Dentist £5.00
Opticians £5
Food £600
Car insurance £42.56
Car tax £36.56
Mot £10
Fuel £190
Public transport £15
Clothing £20
Hairdressing £10
Home phone /broadband £35.99
Mobile £20
Hobbies £40
Gifts £25
Smoking £56 (one pouch per week)
Instant ink £3.49
School tuck money 20
Kids pocket money/chores £30


Am i missing anything?! I dont get why we have left overs when we are living on air at the minute.... So scared the ipa will be out of our reach.
Thanks to anyone who is reading xxx

Yellow_mango

There’s nothing on there for entertainment. Do you ever have a takeaway or meal out? A drink or two down the pub? Lunch at work? Activities or trips for the kids? Coffee with friends?

How accurate is the number for groceries? Have you actually tracked that or is it a guess? Similarly for clothes / haircuts / hobbies / gifts. All areas you could be spending more than you think if you’re not carefully tracking it.

Willing2Learn

I am not qualified to give advice on a bankruptcy SOA. But what I can say is that your SOA is incomplete. If you complete your full SOA using the link below, then people who are qualified to advise will be along. Please make sure to click on the 'format for MSE' button near the bottom of the SOA form and then you can copy/paste it on to this thread.

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

System

Will they allow more for food?? And they allow going out etc?

System

I tried using that link and it wont work on my phone... :-( any chance u can tell me what im missing?

Yellow_mango

Will they allow more for food?? And they allow going out etc?

I don’t know what they’ll allow you. I’m suggesting where your “missing” money is currently going.

Energize

£36 for broadband?! That must be the highest bill I've ever seen, and then another £20 for mobile service. You can reduce that and ditch the TV licence.

Also £600 for food for only 4 people, 2 of which are children. I would expect the bill to be more like £200, are you shopping at Waitrose!?

System

Home phone and broadband is £26 my bad.. Typo!
£150 a week....? No dont shop in waitrose... How on earth do you manage on £50 a week? Thats cleaning products, pet food, pack lunches the lot. As u can see we dont go out AT ALL so yeah may have a pizza or something in the trolley but i dont think £150 a week on a family and three pets is too much!

TheGardener

Energize wrote: »

£36 for broadband?! That must be the highest bill I've ever seen, and then another £20 for mobile service. You can reduce that and ditch the TV licence.

Also £600 for food for only 4 people, 2 of which are children. I would expect the bill to be more like £200, are you shopping at Waitrose!?

The point of an SoA is to give a snapshot of current expenditure and commitments - not to 'save' - that comes afterwards.

System

So the 'save that comes after'? Thats what im trying to get to bottom of.... What sort of figures do they give u to live on? We allowed clubs? Going out? £150 a week shopping allowed??

TheGardener

There are no 'allowances' as such - what you need to do is give a snapshot of how your finances actually are. Its a lot easier if you use the stozingSoA but are you saying it wont open on a phone?

Yes you are allowed to have some sort of social life (a modest one) but prioritise making sure all your actual daily living expenditure is accounted for. £600 groceries is not unreasonable for a family of 4 - are the kids over 16?
Given your income I would say you are unlikely to get an IPA but if the OR asks for one, come back here for advice before you sign anything.
Once the OR has approved your budget you can 'juggle' things around within the budgets and make savings where you can to pay for other things.