Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By mark_sheffield
#253533 Hi All,

I'm finally at CAB tomorrow to fill in my BR forms. When filling out my outgoings what am I allowed and what amounts?

haircut, Holiday savings, sports such as football, food?

I am living on my own currently and I have a girlfriend who is pregnant. She wants to move in with me but wants me to get this sorted first.
Can I put anything on there about me expecting a child?

Obviously I don't want much, if anything stopped from my wage. I earn around 1400pcm after tax and NI.

Any advise please?
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By TalbotWoods
#253563 The best way to do this is to list all the things that you need and how much you spend on them, don't worry if its a bit to much as the OR will adjust downwards.

What you do not want to do is put the 'trigger' figure for each expense item, if you do the OR will SCRUTINISE your income and expenses like a hawk and could disallow hell of a lot more than if you were honest.

As to what is claimable this is quite individual , though there are a lot of items you can claim for, some depend on your circumstances, so it would be impossible to say what you can and cant claim for.

All we can suggest again is to look at what you spend money on, such as haircuts, dentistry, etc and put down the honest costs.

We used to be able to give an indication of what you could claim, but since December the Insolvency Service has altered the way it does its I&Es and IPAs and we are in a learning curve situation again as to what they will allow and what they wont.

All we do know is that they are using the Cost Of Living Index from the ONS