Bankruptcy and child maintenance

GeordieGeorge

Frangelina said:

Does anyone know if it’s okay for me to refuse child maintenance in order to avoid the IPA? 

No, it’s not OK.

Stop trying to cheat the system; do everything honestly, complete the process and then you can move on.

Frangelina

GeordieGeorge said:

Frangelina said:

Does anyone know if it’s okay for me to refuse child maintenance in order to avoid the IPA? 

No, it’s not OK.

Stop trying to cheat the system; do everything honestly, complete the process and then you can move on.

As in, it’s illegal? Or just not okay in your opinion? I know you can choose a lower paid job for throughout your bankruptcy if you like so wondered if it’s the same with not taking maintenance. 

I appreciate our opinions will all be different on moral rights and wrongs but I was hoping for the facts ideally. 

Frangelina

Thanks again Sourcrates. I tried stoozing but when I tap “calculate” it just tells me I haven’t put in values for some of the things I’ve left at zero. I’ll try it on a different browser 

Frangelina

I did it on laptop and it's fine: 

[tt][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

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

Number of children in household......... 1

Number of cars owned.................... 0[b]

Monthly Income Details[/b]

Monthly income after tax................ 0

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

Benefits................................ 1621

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

Total monthly income.................... 1621[/b][b]

Monthly Expense Details[/b]

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

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

Rent.................................... 500

Management charge (leasehold property).. 0

Council tax............................. 118

Electricity............................. 30

Gas..................................... 18

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

Water rates............................. 33

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

Mobile phone............................ 10

TV Licence.............................. 25

Satellite/Cable TV...................... 35

Internet Services....................... 18

Groceries etc. ......................... 400

Clothing................................ 100

Petrol/diesel........................... 0

Road tax................................ 0

Car Insurance........................... 0

Car maintenance (including MOT)......... 0

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

Other travel............................ 70

Childcare/nursery....................... 0

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

Medical (prescriptions, dentist etc).... 0

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

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

Contents insurance...................... 12

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

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

Presents (birthday, christmas etc)...... 30

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

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

Holiday................................. 30

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

Total monthly expenses.................. 1499[/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

Halifax CC.....................9914......0.........0

Lloyds CC......................6780......0.........0

Halifax OD.....................2560......0.........0

Natwest L......................21186.....0.........0

Natwest L......................764.......0.........0

Admiral........................128.......0.........0

Natwest OD.....................3495......0.........0[b]

Total unsecured debts..........44827.....0.........-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 1,621

Expenses (including HP & secured debts). 1,499

Available for debt repayments........... 122

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

Amount left after debt repayments....... 122[/b]

[b]Personal Balance Sheet Summary[/b]

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

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

Total Unsecured debt.................... -44,827[b]

Net Assets.............................. -44,827[/b]

[i][/i][/tt]

Frangelina

Even if I boost the amounts a bit, there’s no way I can cram an extra 400 on there - unless I’ve completely miss understood! 

Sonic101

Frangelina said:

Even if I boost the amounts a bit, there’s no way I can cram an extra 400 on there - unless I’ve completely miss understood! 

There are some categories you’ve missed:
-Nothing for emergency fund? You could put £20-£30 
-Nothing for dental or prescriptions - or opticians? You should put something in for these.  

-Nothing for other child-related  expenses? What about school uniform, pocket money, school trips, after school clubs/activities, babysitting...I’m sure there are a number of justifiable expenses. 

sourcrates

As I mentioned earlier, and sonic101 reiterates above, "child related expenses" "emergency fund" you budget for every little thing you spend money on, a morning take away coffee, a paper to read, packed lunches, school related items, uniform, pens, pencil cases, etc etc kids shoes, clothes, holidays, school trips etc.

You MUST have something in the emergency fund, what if your fridge goes south ? washer ? hoover ?

£50 quid minimum in here a month.

Your budget is nothing like complete, you must do it correctly as you will have to live on this for min one year, so it has to be right.

Biggest mistake people make is underbudgeting, then they start to struggle and can`t fathom out why .

Frangelina

Thanks, this is very helpful. I'm so absolutely useless with money I have no idea about this stuff.

We don't have any medical expenses because i don't work so it's all free. Her uniform I put in under clothes. How much can I put in for if the hoover etc. breaks? 

He's never paid maintenance before which is why I can't see where we'll spend it. Because we've always got by without. 

Frangelina

Sorry - I see you've both suggested between 30-50 for emergency fund. I'm not handling this very well, I can barely read the comments properly! 

sourcrates

Frangelina said:

Sorry - I see you've both suggested between 30-50 for emergency fund. I'm not handling this very well, I can barely read the comments properly! 

You are best overestimating the figures, as i hinted at before, if the OR want`s to query something, they will.

They may increase some areas, they may decrease others.

You have to look out for yourself now, the worst case scenario is you end up with an affordable (on paper) IPA, which is why its so incredibly important to get the figures right, just take your time, try and relax, there is no rush to do this.