Issues and questions that come up during your bankruptcy period

Moderators: TalbotWoods, JaneClack

By Iphigenia
#195199 do you want to divulge? obviously, you don't have to but lots of us have done and it helps the really knowledgable ones here to be able to say whether you're being unfairly treated or over-optimistic.
By smiales
#195291
moaner wrote:Yeah, we were such a borderline case but your OR seems to be saying you have a huge surplus :?


Hmmm, the weird thing is that a couple of months ago they wanted an IPA of £110pm and now they want £220 and have given no explanation? Mine was to be £50ish and OH was to be £60ish. Our income has not altered. In fact the most odd thing is that the original figure was based on them making us sell the one car, they have now let me buy that from them so surely that means they must take the expenditure that goes with the car into acc? Somehow they have increased the surplus since this not decreased?

P.S, other post, not sure what you mean by divulge? What else do you want to know? :)
By Iphigenia
#195326 Don't "want" anything - just in case you think I'm just a nosy btch! :lol:

What I meant was I and many others have listed our i and e's here and had the experienced ones comment on them. Comments on mine ranged from "you haven't included X, put it down" to "you haven't a hope in hell of that one".

Maybe you've already done that; maybe you don't want to; just, for me it was a Big Help.
By smiales
#195328
Iphigenia wrote:Don't "want" anything - just in case you think I'm just a nosy btch! :lol:

What I meant was I and many others have listed our i and e's here and had the experienced ones comment on them. Comments on mine ranged from "you haven't included X, put it down" to "you haven't a hope in hell of that one".

Maybe you've already done that; maybe you don't want to; just, for me it was a Big Help.


Wondered if thats what you meant, not worried about you being nosey :lol: I'm at work at the mo but will post it later
By smiales
#195359 COUNCIL TAX £80.00
WATER £40.00
OPTICAL £70.00
PHONE £65.00
GAS £44.00
ELECTRICITY £30.00
TV LICENCE £12.00
HOUSE INS £22.24
LIFE INS 1 £19.12
LIFE INS 2 £11.24
CAR INS 1 £27.78
PRESCRIPTIONS £20.12 2x prepay certificate
MORTGAGE £850.00
CAR INS (BMW) £28.00
STUDENT LOAN £150.00 arrears as forgot to defer
PETROL £180.00
FOOD/HOUSEHOLD £379.00
CAT £20.00
HOLIDAY £60.00
HOUSE MAINT £45.00
CAR MAINT £100.00
CAR TAX £34.00
DENTIST £15.00
HAIRDRESSERS £25.00
CLOTHES £60.00
AA £10.00
TOTAL £2,397.50
INCOME £1,858.86
DISPOSABLE -£538.64

Welcome to our SOA
User avatar
By moaner
#195376 Is that your I&E or is it what the OR has said?? If your disposable is £538.64, then I can see why they are going for the IPA and I don't think you will be able to avoid one :shock:

Just my opinion:

your optical expense looks very high, we were allowed £20

life insurance-we were not allowed this at all

petrol seems high- do you keep receipts to prove to OR that is what you spend?

Holiday- some OR's allow, we weren't allowed one

Not sure if house maintenance is allowed

I can see things there where, if you have a strict OR, he may be disallowing, I think you reallly need to insist on a written breakdown from them
User avatar
By Yogi Bear
#195378
smiales wrote:TOTAL £2,397.50
INCOME £1,858.86
DISPOSABLE -£538.64

Umm... you can't have a negative disposable income. You've got to somehow find a way of either increasing your income or reducing your expenditure so that the two balance - otherwise you're going to be permanently bankrupt. :shock:
User avatar
By TalbotWoods
#195382 smiales

Before we can answer this fully we need a bit more info:

Is it just you or did both of you file for bankruptcy at the same time?

Is it just you working or are both of you working?

If both of you are working, what is the income split, if it is just you working how much does you partner contribute?

Then we'll be able to answer this SoA more fully

Tim
User avatar
By moaner
#195384 oop, I have obviously read it wrong :oops: (thats what you get when posting in a rush to go shopping) Maybe your OR did too :mrgreen:

Like I say, I can see some certain things the OR may have disallowed but why won't they send you a written breakdown???
Bysurfbabe
#195393 Water £40 a month ! :shock:

We live in a huge 3 bathroom house & were on a water meter and we pay £11 a month in the expensive South ?

Optical £70 a month !

Even if 2 of you were on monthly contact lenses it does not add up to that

2 Lots of life ins ?

No way will that be allowed it will go to the OR anyway if anything happens to you in your bankruptcy, & the only way to keep it is to pay typically 12 months premiums to OR

Or do as most have to cancel the policy go without and hope you dont die whilst bankrupt

House Maint & Car Maint too high

You do have available income for an IPA
This is why its so important to get proper advice before going bankrupt
Some of your things will not be allowed
Others the OR will want proof as they are higher than the norm
By smiales
#195395
moaner wrote:Is that your I&E or is it what the OR has said?? If your disposable is £538.64, then I can see why they are going for the IPA and I don't think you will be able to avoid one :shock:

Just my opinion:

your optical expense looks very high, we were allowed £20

This is for two people and I have a weird prescription that means I have two different sets of glasses (varifocal and reading, OH has to have contacts for part of the time as advised by optician due to allergies and sport. We have provided written evidence from optician on this. It is high but its a true figure.

life insurance-we were not allowed this at all

We have to have insurance to cover the mortgage - OR hasn't actually disputed this at all strangely enough? Is this really unusal then?

petrol seems high- do you keep receipts to prove to OR that is what you spend?
OH works in muliple locations and his petrol costs are about £130pm Proves with mileage explained to OR. The other £50 is for my car

Holiday- some OR's allow, we weren't allowed one

Fair enough we are lucky with this and its not been questioned

Not sure if house maintenance is allowed

Never been questioned and was advised to put it in by people on MSE forum

I can see things there where, if you have a strict OR, he may be disallowing, I think you reallly need to insist on a written breakdown from them



Hope this helps, sure you can see that even if some of the things were disallowed there would still not be enough money in the pot :(
By smiales
#195396
Yogi Bear wrote:
smiales wrote:TOTAL £2,397.50
INCOME £1,858.86
DISPOSABLE -£538.64

Umm... you can't have a negative disposable income. You've got to somehow find a way of either increasing your income or reducing your expenditure so that the two balance - otherwise you're going to be permanently bankrupt. :shock:


I know, we are still struggling, we get through each month because the things on the SOA that we should be budgeting for like maintenance on cars and house etc aren't being so although we are ok on a general basis, if the car blew up we would be totally stuck. We are trying but the truth is that we don't have the money
By smiales
#195397
TalbotWoods wrote:smiales

Before we can answer this fully we need a bit more info:

Is it just you or did both of you file for bankruptcy at the same time?

Both declared BR end of Aug 07

Is it just you working or are both of you working?

Both working

If both of you are working, what is the income split, if it is just you working how much does you partner contribute?

OH earns £1164 and I earn £695

Then we'll be able to answer this SoA more fully

Tim


:)
By smiales
#195399
moaner wrote:oop, I have obviously read it wrong :oops: (thats what you get when posting in a rush to go shopping) Maybe your OR did too :mrgreen:

Like I say, I can see some certain things the OR may have disallowed but why won't they send you a written breakdown???


Your guess is as good as mine, we ask for one every single time we have contact but they always write back saying they have already provided sufficient info