BR Petition Wed 18th June 12:30, I&E

lindsaygalaxy

Hi Kevin

I think you are going to have to be really realistic here, and so will your ex wife!

I dont see anyway the OR will allow you school fees or that high maintanace fee when you cant afford it hence going BR. They will also not allow you to have an allowance for clothes for them when yuo pay maintance.

I think you need to be seeking professional help, such as the national debtline.


I think it would help if you would say who is amkign you bankrupt. With an income that high I think most people on here, or infact in this country could live off this amount of cash a month, so that isnt the problem, it is the budgeting amount.

If your house has equity in it will be sold, and if it is rented, you will need to argue why you need such an expensive property, as even with room for the children, £1250 is a ver large amount when they dont live with you and you have to meet them for meals so I pressume they dont live with you.

If you still intend to go BR, you will need to start living off a lot less a month, nearer the £1200 mark i would think all in!

As for the car, what is its value? Even if you need it for work/to see the children, they will only allow you and old bangor!

shadowdragon

peachyprice wrote: »

It's irrelevant shadow, someone else is making Kevin BR, the judge won't ask this.

Haaa I see, sorry. Didnt realise it was a different process, does the OP still have to fill out the relevant forms then?

lindsaygalaxy

With the level term, the OR will take it, never mind let you pay into it!

itydntk

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maxmycardagain

Corporation tax from a dissolved ltd company? when did that start?

lindsaygalaxy

From the insolvency website:

In the case of Scott (Re: Scott (A Bankrupt) [2003] All ER D 214), [note 8] who appealed against a decision to make an IPO against him, the court stated that it is for the bankrupt to produce sufficient evidence to the court for a decision to be made on the matter of school fees as a "reasonable domestic need." The fact that this bankrupt was unhappy with local state schools, opting instead for private education, was not deemed sufficient in itself to make the school fees acceptable as a reasonable domestic need.

peachyprice

shadowdragon wrote: »

Haaa I see, sorry. Didnt realise it was a different process, does the OP still have to fill out the relevant forms then?

Slightly different form shadow.

itydntk

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lindsaygalaxy

Reason for post was that instead of assuming the minimum I should work form the ideal and then work backwards. That's not a joke or lack or reality but the approach I have about life and work, assume you can achieve the best and maybe you will.

Sorry do you mean you will work less to have to not pay an IPO? If this is the case the OR will see this and it will not do you any favours!

peachyprice

itydntk wrote: »

Policies have no cash value unless I pop my clogs. Critical illness is just that, there is a payout if I am incapacitated.

Nothing for the OR to take then! But if you do die or become incapacitated during the term of your bankruptcy the OR will get your pay out. So in that respect is it really worth continuing it?