Advice Please !!

Emilla1991

Hiya Im Em
In need of advice  if possible.
I am ready to submit my bankcruptcy after finally getting the fee together.
Really worried about the questions im going to get from the OR and my soa.
Really Really nervous now because its so close.  How  understanding are  they with the allowances .
Thanks Em xx

sourcrates

Hi,

There are allowences for everything, if some of yours are over the specified level, the OR will just adjust it, no big deal, what they may take off one, possibly add to another, its really more of a box ticking exercice than an inquisition, lots of people tend to worry over nothing.

luvchocolate

Pop your SOA on here for us to have a look at...some posters know what the allowances are even though its not public knowledge but can point you in the right direction 

Emilla1991

Hi thank you for getting back to me, i will  try and do it the best i can x

Emilla1991

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 1380

Partners monthly income after tax....... 0

Benefits................................ 1247

Other income............................ 0[b]

Total monthly income.................... 2627[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 0

Secured/HP loan repayments.............. 0

Rent.................................... 750

Management charge (leasehold property).. 0

Council tax............................. 85

Electricity............................. 115

Gas..................................... 0

Oil..................................... 0

Water rates............................. 38

Telephone (land line)................... 0

Mobile phone............................ 37

TV Licence.............................. 13

Satellite/Cable TV...................... 25

Internet Services....................... 20

Groceries etc. ......................... 550

Clothing................................ 60

Petrol/diesel........................... 130

Road tax................................ 14

Car Insurance........................... 105

Car maintenance (including MOT)......... 60

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 40

Other child related expenses............ 40

Medical (prescriptions, dentist etc).... 24

Pet insurance/vet bills................. 0

Buildings insurance..................... 0

Contents insurance...................... 13

Life assurance ......................... 0

Other insurance......................... 0

Presents (birthday, christmas etc)...... 50

Haircuts................................ 40

Entertainment........................... 40

Holiday................................. 40

Emergency fund.......................... 20

Ex partner sons dla..................... 250[b]

Total monthly expenses.................. 2559[/b]

[b]

Assets[/b]

Cash.................................... 0

House value (Gross)..................... 0

Shares and bonds........................ 0

Car(s).................................. 1

Other assets............................ 0[b]

Total Assets............................ 1[/b]

[b]

No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR[b]

Total unsecured debts..........0.........0.........-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 2,627

Expenses (including HP & secured debts). 2,559

Available for debt repayments........... 68

Monthly UNsecured debt repayments....... 0[b]

Amount left after debt repayments....... 68[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 1

Total HP & Secured debt................. -0

Total Unsecured debt.................... -0[b]

Net Assets.............................. 1[/b]

[i]Created using the SOA calculator at www.stoozing.com. 

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

luvchocolate

Do you own the car in your name?
What's it's value?

Emilla1991

Hi  yes i own the car around 800 i think.

Emilla1991

Hi i get dla for my son but i give this to me ex partner as he looks after them fulltime,
its a complicated situation tbh.
Will the Or question this 
thank you xxx

luvchocolate

My examiner was brilliant..showed me respect and moved amounts around to make my situation the best it could be. 
Just be honest and open with them. 

fatbelly

From the look of that soa,if you get an income payments agreement it will only be for a small amount.
Son's DLA is paid for his care/mobility and shouldn't be taken into account
Do a valuation of the car on  parkers guide (free one) so you can give an exact figure  under £1000 should be  ok if you can show a car is needed.

Emilla1991

Hi thank you  i have  done  just that.
900 it says. I do not want to go in to much detail, but my partner is on Carers allowance for our son , but we split up 4 months ago or so and he moved in with his parents. Just one big mess tbh, he went bankcrupt 3 months ago.  I wanted to avoid but with 48000 debts , national debt  helpline  recommend bankcruptcy.