What do I do?

kgreen84

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 587
Partners monthly income after tax....... 750
Benefits................................ 329
Other income............................ 0
Total monthly income.................... 1666

Monthly Expense Details
Mortgage................................ 600
Secured loan repayments................. 260
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 40
Gas..................................... 50
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 42
Mobile phone............................ 40
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 350
Clothing................................ 60
Petrol/diesel........................... 80
Road tax................................ 33
Car Insurance........................... 50
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 15
Buildings insurance..................... 32
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 16
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30
Total monthly expenses.................. 1968

Assets
Cash.................................... 0
House value (Gross)..................... 70000
Shares and bonds........................ 0
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 71200

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97000....(600)......0
Secured Debt.................. 17000....(260)......0
Total secured debts........... 114000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................7000......180.......0
ccs............................3300......105.......0
od.............................1300......20........0
Total unsecured debts..........11600.....305.......-

Monthly Budget Summary
Total monthly income.................... 1,666
Expenses (including secured debts)....... 1,968
Available for debt repayments........... -302
Monthly UNsecured debt repayments....... 305
Surplus(deficit if negative)............ -607

Personal Balance Sheet Summary
Total assets (things you own)........... 71,200
Total Secured debt...................... -114,000
Total Unsecured debt.................... -11,600
Net Assets.............................. -54,400

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

This is based on 2 adults 1 child and 2 cars, this is our current situation but I've done another for when we move to rented and not paying any debts. Do the figures look ok?

When we go br will the or require both? the above to prove we need to go bankrupt and then the one based on rented with no debts to work out any ipa? The above is what I'm sending out to ccs and loans to confirm i'm not making it up but i don't want them coming back and arguing although with a deficit of £600 its unlikely i can over quote that much.

Any input appreciated

dalip

kgreen84 wrote: »

have just done a quick soa post debts to see what sort of surplus cash we'd have. Comes out at £110 would the or bother with £11 or £5.50 a month to him?

Some confusion here i think. I had £117 surplus and the OR took £50 a mth,thats the min they can take. D

kgreen84

dalip wrote: »

Some confusion here i think. I had £117 surplus and the OR took £50 a mth,thats the min they can take. D

Thanks for that, so basically post br if i've got a few quid over the £99 they take a minimum of £50? Can an IPA only be imposed during the period you are undischarged ie surplus of say £80 while undischarged no ipa but it goes up to say £300 surplus AFTER discharge can the or come back for any?

I only ask because during undischarged I will be on maternity leave but once this stops in december 09 i should be a qualified plumber and fingers crossed earning a little more.

dalip

This is a grey area. I had letter when my IPA was first started which stated i had to inform the OR of any income changes up till discharge( these are old letters which were in use when bc was 3 years),others have had (new) letters which state they have to inform the OR of income changes for the 36 mths the IPA runs for.

So take a look at the wording on your letter about the IPA and other court letters. Offically it should be 36mths but if you have proof it says until discharge then . Up to you really.D

dalip

WHOOPS. As frosty says if no IPA imposed at time of discharge then no nothing they can do about it.

Sorry totally misread that post:o .See i am not perfect after all:rotfl: :rotfl: :rotfl: New glasses needed.D

kgreen84

dalip wrote: »

WHOOPS. As frosty says if no IPA imposed at time of discharge then no nothing they can do about it.

Sorry totally misread that post:o .See i am not perfect after all:rotfl: :rotfl: :rotfl: New glasses needed.D

ha ha forgiven

tigerfeet2006

kgreen84 wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 587
Partners monthly income after tax....... 750
Benefits................................ 329
Other income............................ 0
Total monthly income.................... 1666

Monthly Expense Details
Mortgage................................ 600
Secured loan repayments................. 260
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 40
Gas..................................... 50
Oil..................................... 0
Water rates............................. 40
Telephone (land line)................... 42
Mobile phone............................ 40
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 350
Clothing................................ 60
Petrol/diesel........................... 80
Road tax................................ 33
Car Insurance........................... 50
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 15
Buildings insurance..................... 32
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 16
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30
Total monthly expenses.................. 1968

Assets
Cash.................................... 0
House value (Gross)..................... 70000
Shares and bonds........................ 0
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 71200

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97000....(600)......0
Secured Debt.................. 17000....(260)......0
Total secured debts........... 114000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................7000......180.......0
ccs............................3300......105.......0
od.............................1300......20........0
Total unsecured debts..........11600.....305.......-

Monthly Budget Summary
Total monthly income.................... 1,666
Expenses (including secured debts)....... 1,968
Available for debt repayments........... -302
Monthly UNsecured debt repayments....... 305
Surplus(deficit if negative)............ -607

Personal Balance Sheet Summary
Total assets (things you own)........... 71,200
Total Secured debt...................... -114,000
Total Unsecured debt.................... -11,600
Net Assets.............................. -54,400

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

This is based on 2 adults 1 child and 2 cars, this is our current situation but I've done another for when we move to rented and not paying any debts. Do the figures look ok?

When we go br will the or require both? the above to prove we need to go bankrupt and then the one based on rented with no debts to work out any ipa? The above is what I'm sending out to ccs and loans to confirm i'm not making it up but i don't want them coming back and arguing although with a deficit of £600 its unlikely i can over quote that much.

Any input appreciated

You need to give the OR your I&E as it is at the time of BR without the debts on it.so if you can post that one up it would be appreciated.

kgreen84

Monthly Income Details
Monthly income after tax................ 480
Partners monthly income after tax....... 750
Benefits................................ 576
Other income............................ 0
Total monthly income.................... 1806

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 36
Telephone (land line)................... 42
Mobile phone............................ 40
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 90
Road tax................................ 33
Car Insurance........................... 50
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 15
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 15
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30
Total monthly expenses.................. 1731

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 1200

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,806
Expenses (including secured debts)....... 1,731
Available for debt repayments........... 75
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 75

Personal Balance Sheet Summary
Total assets (things you own)........... 1,200
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,200



This is a rough idea of my situation on going bankrupt back end of this year ie december while on maternity leave with another baby. I will be taking 12 months off in total so should be discharged before I start plumbing and my surplus increases.

Do the figures stand with this, with it being under the £99 would the or try and adjust figures. Rent is an average is could be £50-£100 less or more, I won't know that for another couple of months.

kgreen84

bump for the morning

tigerfeet2006

kgreen84 wrote: »

Monthly Income Details
Monthly income after tax................ 480
Partners monthly income after tax....... 750
Benefits................................ 576
Other income............................ 0
Total monthly income.................... 1806

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 500
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 36
Telephone (land line)................... 42
Mobile phone............................ 40 Is this for 1 or2 mobiles? If 2 then this should be fine.
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 18 You will need proof if you need this for work or study otherwise you will have to take it out of your surplus.
Groceries etc. ......................... 450
Clothing................................ 80
Petrol/diesel........................... 90
Road tax................................ 33
Car Insurance........................... 50
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 You can up this to at least £20. Am assuming you will be getting it free
Pet insurance/vet bills................. 15
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 15
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 this may or may not be allowed but leave
Haircuts................................ 15 up to £25
Entertainment........................... 0
Holiday................................. 40
Emergency fund.......................... 30this may or may not be allowed but leave
Total monthly expenses.................. 1731

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1200
Other assets............................ 0
Total Assets............................ 1200

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 1,806
Expenses (including secured debts)....... 1,731
Available for debt repayments........... 75
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 75

Personal Balance Sheet Summary
Total assets (things you own)........... 1,200
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 1,200



This is a rough idea of my situation on going bankrupt back end of this year ie december while on maternity leave with another baby. I will be taking 12 months off in total so should be discharged before I start plumbing and my surplus increases.

Do the figures stand with this, with it being under the £99 would the or try and adjust figures. Rent is an average is could be £50-£100 less or more, I won't know that for another couple of months.

Hope that helps.