Xmas bonus before bankruptcy

haggis0073 · 27 November 2017 at 12:47PM

i am going to be hitting the submit button on the 6th december for bankruptcy as a trust will be paying my fees.

I will be getting a xmas bonus in my wages before then of around £400-500, would it be wise to leave this in the bank and let the OR take it when i go bankrupt or would i be allowed to use it? (thinking it would be handy for xmas presents)

Butts · 27 November 2017 at 4:10PM

haggis0073 wrote: »

i am going to be hitting the submit button on the 6th december for bankruptcy as a trust will be paying my fees.

I will be getting a xmas bonus in my wages before then of around £400-500, would it be wise to leave this in the bank and let the OR take it when i go bankrupt or would i be allowed to use it? (thinking it would be handy for xmas presents)

Well when you fill in the Bankruptcy Form it asks how much money is in your Bank Account and any cash you have "in hand".

If you have already spent it you can honestly state the actual figures at the date of application.

I assume you are going down for thousands so a monkey is going to be neither here nor there.

Perhaps you used the bonus to help towards your fees

haggis0073 · 27 November 2017 at 6:34PM

hey butts thanks for reply, it gets paid this friday, i have a trustee that is paying BR fees on the 6th dec so cant use that as an excuse, i think i may just leave it and see what OR says then, just had my chat with CAB this evening and now more confused lol

I filled in the total household income which was £2075, of that MY income thats paid direct to me is my wages of £934, the rest of income is child tax credits, child benefit and PIP which are paid into my wifes account.
I was told to only put in the amounts which my wages cover and not of the overall household expense, does this seem right? Also on the online forms it states to only include wages/benefits etc thats paid DIRECT to me, therefore my included tax credits and child benefit was put under OTHER household income

So all i have put so far is what my wages cover

fuel (diesel) 151
gas/elec 151
travel exp 78 (car ins/car tax/car maintance)
mobile phone 52 (mine and eldest son)
landline/internet/netflix 57
home ins 11
shop 433

Total comes to £933 per month, my expenses which i solely pay for out of my wages

Other expenses such as clothing, extra shopping, rent, school uniforms etc etc comes out of my wifes bank and therefore i have not added

Does this seem correct? or should i do a total household expense and include everything we spend together?

joa1210 · 30 November 2017 at 7:00PM

for mine i put my income + child benefit + my husbands income after his contractual payments then the expenditure as the total cost ie- full rent -full council tax -gas and electric etc
this seems to be fine, i hit the button on the 26th oct

haggis0073 · 30 November 2017 at 11:47PM

cheers for reply, i have re adjusted the figures on the bankruptcy forms, not long now (about a week) and i will be hitting the submit button.

when you did yours did you see a section for holidays as i cannot see it anywhere (i am probably just blind lol)

Xmas bonus before bankruptcy

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