All Forums  archive  bankruptcy postbag for july  Is my budget going to be allowed

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by sarahatdigs[/i] [br]hi,( a bit of background ) my partner and i have our appointment with the court clerk to present our petitions of bankruptcy this monday coming . we dont have any assets, but chose to try an iva first for moral reasons . we tried to enter this iva last december but it didnt work. To offer 25p/£ our budget was really tight. On the day the IP's office didnt call us until after the meeting had finished and said they wanted another £40/month. That was just not financialy possible. We couldnt argue that because the meeting was over So it now looks on paper like we failed. My question is will the court frown on this? will they expect us to pay any money each month? and because we went through an organisation to arrange the IVA and was talked through all our options etc will that be considered enough debt advise for the judge? I have now had to give up work so an IVA is now not an option any more. our budget income £1134 + child benefit £136 + tax credit £377 = 1647 rent £382 council £95 water £23 tv lic £12 gas £10 elec £120 phone £20 household £540 haircuts £26 prescriptions £5 optical and dental £16 school dinners £45 travelling to work etc £40 (we dont have a car) annual holiday for 4 £80 clothing allow £80 contingency £50 pets food and vets £25 that leaves us with £78 all these figures are based monthly ie. we get 13 payments of tax credits but i times by 13 and divided by 12 and did the same with all the bills , this means at the moment on a normal month we only have £12 left. would really appreciate any advise beforewe go on monday thanks sarah [/quote]   Check here to include your profile signature.