Potential Ipa or not

ManCity11

Mornin all.
Long time lurker of this forum finally posting. Ready to sort our debts out. Took advice from national debt helpline and they have recommend bankcruptcy for both me and my wife. How likely is an ipa, are they strict with living costs.
Thank you Dan

sourcrates

Any more than £20 disposable income, then an IPA is possible, yes.

ManCity11

Is there any areas i could increase do you  think. Cheers.

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

Household Information[/b]

Number of adults in household........... 2

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

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

Monthly Income Details[/b]

Monthly income after tax................ 2350

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

Benefits................................ 0

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

Total monthly income.................... 2350[/b][b]

Monthly Expense Details[/b]

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

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

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

Management charge (leasehold property).. 0

Council tax............................. 115

Electricity............................. 100

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

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

Water rates............................. 40

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

Mobile phone............................ 60

TV Licence.............................. 12

Satellite/Cable TV...................... 50

Internet Services....................... 0

Groceries etc. ......................... 650

Clothing................................ 50

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

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

Car Insurance........................... 50

Car maintenance (including MOT)......... 50

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

Other travel............................ 20

Childcare/nursery....................... 30

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 20

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

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

Contents insurance...................... 10

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

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

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

Haircuts................................ 30

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

Holiday................................. 20

Emergency fund.......................... 0[b]

Total monthly expenses.................. 2291[/b]

[b]

Assets[/b]

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

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

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

Car(s).................................. 0

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

Total Assets............................ 0[/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.................... 2,350

Expenses (including HP & secured debts). 2,291

Available for debt repayments........... 59

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

Amount left after debt repayments....... 59[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 0

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

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

Net Assets.............................. 0[/b]

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

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

sourcrates

Well your grocery bill is way too high, yet you have nothing for emergencies, your other levels are hard to comment on, as there are limits in bankruptcy, but they are not public knowledge.

Maybe Fatbelly can advise you on that score, he works at CAB so can make suggestions for you.
Hopefully he’ll pick this up.

ManCity11

Afternoon
 Yea the grocery bill is high.
I was just trying to maximise the allowances to try and avoid a ipa. 

luvchocolate

There are no actual allowances...the examiner will be looking for amounts that trigger their interest.