Thinking about bankruptcy

Toon_Dave

philnicandamy wrote: »

Thanks for that phil..i know im gonna have to pay a high amount too. guess im better off knowing it now before monday.:p

maxmycardagain

above that does the % stabilise at 70% of the surplus?

Toon_Dave

the maximum percentage in an ipa/ipo is 70% , which is sometimes why BR gives more leway for the person going BR

maxmycardagain

so a £3000 income less £1200 for a family to live on = £1800 surplus x70% = a 3 year ipa of £1260 a month?

(just to give an example)

peachyprice

maxmycardagain wrote: »

so a £3000 income less £1200 for a family to live on = £1800 surplus x70% = a 3 year ipa of £1260 a month?

(just to give an example)

£1200 for a family to live on, Max, it's 2008, not 1998!!!!! Try adding another £1k to that!

maxmycardagain

a family of four have to live on a lot less on benefits.........

shadowdragon

maxmycardagain wrote: »

so a £3000 income less £1200 for a family to live on = £1800 surplus x70% = a 3 year ipa of £1260 a month?

(just to give an example)

that £1200 seems a little low tbh, just me and my partner our outgoings are £1k a month and our rent is only £280ish per month, I think you have been a little over careful there.

Expenses


Housing


Rent 306.28 Council Tax 66.6 Water Rates 0 Gas 40 Electricity 60

Services


Telephone 40 Mobile Phones 30 Internet 0 TV License 12

Motoring


Road Tax 18 Insurance 46.53 Recovery
Fuel/parking 40

Housekeeping


Food, toiletries, cleaning 250 Tobacco 45 Hairdressing 10 Medicines/prescriptions 31.3 Dentist/Opticians 13

Totals 1008.71

This is mine, based on exact rent. counil tax ect and good estimates ect, dont forget things like medicines and prescriptions for all in the house. We didnt include clothes ect, but im speaking to the CCCS in two weeks time and they only need a rought budget. They will prob add and remove from this but its about right i think.

Ok it didnt come out in tables from the copy paste from spreadsheet but the numbers are in £

shadowdragon

maxmycardagain wrote: »

a family of four have to live on a lot less on benefits.........

hmm. not disagreeing but if you take in to account housing benefit, council tax rebate, then the various benefits being claimed it soon mounts up.

peachyprice

maxmycardagain wrote: »

a family of four have to live on a lot less on benefits.........

The OP isn't living on benefits.

maxmycardagain

i get the distinct impression, in some cases, that a reality check is needed, ive seen quite a few post on here that they take home £2500+ a month and wanna keep it all after going BR and how a IPO would be such a pain...