Bankruptcy questions

Pinkbunny2000

I’m thinking about bankruptcy as a last resort, my income from employment is about £1500 and about the same total from UC because our rent element is high and we have kids.

I want to know if our income is too low compared to outgoings so our debts get rotten off completely or if we will be expected to keep paying a little?

has anybody got a link to an example max expenses allowed for each thing for a family

If I arrange an IVA, then lose my job in the future can it be changed?

sorry for so many questions 

luvchocolate

There are no allowances as such..there are trigger amounts which are not public knowledge...although we do have posters on here that deal with that daily. 
Please put up your SOA and we can advise 

Pinkbunny2000

luvchocolate said:

There are no allowances as such..there are trigger amounts which are not public knowledge...although we do have posters on here that deal with that daily. 
Please put up your SOA and we can advise 

How do I put up my soa?

is there a link that Someone can post that I can fill in?

Pinkbunny2000

Would someone be able to post a link to a form to fill in or an example of a SOA?

Helen0503

I went bankrupt in 2003 two of my credit cards were left on my credit report finally last month I got in touch with barclaycard they are going to get them removed will they of affected my credit report and would I be able to claim compensation 

luvchocolate

Helen0503 said:

I went bankrupt in 2003 two of my credit cards were left on my credit report finally last month I got in touch with barclaycard they are going to get them removed will they of affected my credit report and would I be able to claim compensation 

Hi could you start your own thread please. 
It gets confusing answering to different people on someone else's post. 
Thank you 

fatbelly

The soa calculator is here

https://www.lemonfool.co.uk/financecalculators/soa.php

Please format for mse

Pinkbunny2000

Thanks fatbelly 

Pinkbunny2000

Enter your income details

	Amount (£)
Monthly Income (after tax)
Partner's Monthly Income
Benefits
Other Income (e.g. maintenance payments)

Enter your monthly expenditure

	Amount (£)
Mortgage payment (from secured debt table below)
Secured/HP loans (from secured debt table below)
Rent
Management Charge (e.g. on leasehold property)
Council Tax
Electricity
Gas
Oil
Water Rates
Telephone (land line)
Mobile Phone
TV Licence
Satellite/Cable TV
Internet Services
Groceries etc.
Clothing
Petrol/Diesel
Road Tax (car)
Car Insurance (including breakdown cover)
Car Maintenance (including MOT)
Car Parking
Other Travel
Childcare/Nursery
Other child related expenses
Medical (prescriptions, dentists, opticians etc.)
Pet Insurance/Vet bills
Building Insurance
Contents Insurance
Life Assurance
Other Insurance
Presents (birthday, christmas etc.)
Haircuts
Entertainment
Holiday
Household Emergency Fund (e.g. for repairs)

Enter SECURED debts and Hire Purchase (HP) debts

Enter ALL your mortgage, secured and HP debt details here.

Debt description	Debt (£)	Monthly payment (£)	Annual Rate (%)
Mortgage
Secured debt
Hire Purchase (HP)

Enter your UNsecured Debts e.g. credit cards

Debt description	Debt (£)	Min Pay (£)	Annual Rate (%)

Enter the value of your assets

Asset	Value (£)
Cash
House value (gross)
Shares & bonds
Car(s)
Other assets (e.g. endowments, jewellery)

Additional Information

Optional information, but very useful for anyone reviewing your SOA.

Number of adults in household
Number of children in household
Number of cars owned

Main functions...

  

Format results for discussion boards (optional)

 

Pinkbunny2000

All my answers don’t show?

what is the best way to do it?

Pinkbunny2000

	Amount (£)
Monthly Income (after tax)	1500
Partner's Monthly Income	0
Benefits	1500
Other Income (e.g. maintenance payments)	0

Enter your monthly expenditure

	Amount (£)
Mortgage payment (from secured debt table below)
Secured/HP loans (from secured debt table below)
Rent	1300
Management Charge (e.g. on leasehold property)
Council Tax	120
Electricity	30
Gas	30
Oil
Water Rates	30
Telephone (land line)	30
Mobile Phone	100
TV Licence	30
Satellite/Cable TV	20
Internet Services	30
Groceries etc.	600
Clothing	50
Petrol/Diesel
Road Tax (car)
Car Insurance (including breakdown cover)
Car Maintenance (including MOT)
Car Parking
Other Travel	270
Childcare/Nursery
Other child related expenses
Medical (prescriptions, dentists, opticians etc.)
Pet Insurance/Vet bills	10
Building Insurance
Contents Insurance	20
Life Assurance	20
Other Insurance
Presents (birthday, christmas etc.)	20
Haircuts	30
Entertainment	20
Holiday	20
Household Emergency Fund (e.g. for repairs)	10

Enter SECURED debts and Hire Purchase (HP) debts

Enter ALL your mortgage, secured and HP debt details here.

Debt description	Debt (£)	Monthly payment (£)	Annual Rate (%)
Mortgage
Secured debt
Hire Purchase (HP)

Enter your UNsecured Debts e.g. credit cards

Debt description	Debt (£)	Min Pay (£)	Annual Rate (%)

Enter the value of your assets

Asset	Value (£)
Cash
House value (gross)
Shares & bonds
Car(s)
Other assets (e.g. endowments, jewellery)

Additional Information

Optional information, but very useful for anyone reviewing your SOA.

Number of adults in household
Number of children in household
Number of cars owned

Main functions...

  

Format results for discussion boards (optional)