Soa Preparing to bite the bullet!!
Steph8821
Forumite 22 Posts
Hiya me and my partner are finally getting ready to apply for bankruptcy and a dro would these figures be okay x
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................ 292
Partners monthly income after tax....... 0
Benefits................................ 1784
Other income............................ 359[b]
Total monthly income.................... 2435[/b][b]
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 750
Management charge (leasehold property).. 0
Council tax............................. 115
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 0
Mobile phone............................ 70
TV Licence.............................. 12
Satellite/Cable TV...................... 55
Internet Services....................... 0
Groceries etc. ......................... 600
Clothing................................ 40
Petrol/diesel........................... 100
Road tax................................ 13
Car Insurance........................... 70
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 5
Other child related expenses............ 359
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 40
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 20[b]
Total monthly expenses.................. 2520
[b]
0
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Replies
What are the 'other income' and 'other child expenses'?
Am I allowed to do this x
I looked at your other thread and worked this out earlier- it might have been easier to keep everything in one place.
I did suggest that your husband's bankruptcy should go first. You don't need anyone else to do that and you can see what happens to the joint debts.
we was going to do it at the same time. My other half rang about the joint debt but they will not take my name of it.
Really annoying tbh that have to do this over 1 debt were a literally just scribbled my name on a loan years ago.
You will find a DRO not as easy as bankruptcy as the FCA are making life difficult for intermediaries and you will need to jump through a lot of hoops.
In all probability the joint lender will chase you for the joint debt but it's not 100%., Do the bankruptcy and take it from there
@fatbelly we just had a thought, would it be possible if my partner applied for a DRO and left the joint loan out so he qualifies. So i wouldnt need to go insolvent and arrange with the creditor a payment plan in the future.