Exceeding IPA limits

peterparker12

Hi gang🙏

I've been looking at my actual spending and its way above the IPA limits I can see from the SFS and those suggested by forum users and debt charity. That's why I've got in such financial issues -overpspending each month by 200 for about 10 years always hoping to pay it's all back. Mostly stupid stuff like 600 month on posh groceries and living a lifestyle I thought I could payback when I'm older. The last few years has been scrimping and finally went BR.

on my expenses I didn't put what I actually spent I put what I have seen on these forums as the limit. I felt I couldn't put 504 groceries as I didn't think that was reasonable. When the OR asks me if I spend a respectable 250 on groceries which is what I put do I tell him that is true, or that's what I think I can manage?

Is it wrong to put a figure which I have yet to stick to!! 

sammy32683

Sorry from your post it isnt clear what stage of your BR process you are in. 

I am guessing you have gone bankrupt but are awaiting the OR phone call?

Put the expenses that are reasonable, I put £600 for a family of 3 so if it is just you then yes £500 is high. 

They will set you reasonable limits if you put too much, they can look at your bank to see what you've spent money on they can dig into anything they find unreasonable.

My suggestion is if you've gone bankrupt through over spending each month then you need to learn to live in your budget. You wont be able to borrow money whilst bankrupt so you will just have to live on any income you do get.