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| nikirushka |
Posted - 25 October 2009 : 19:54:55
Just a few questions really.
I've been looking into this for a little while - basically speaking, repeated redundancies over the last 3 years and debt from the periods of unemployment, house repairs etc, have left me in a position where I have nearly £8k of debt (loan, credit card), and my monthly bills are almost double my income.
I'm going to speak to the CAB tomorrow about possible options but just had a couple of questions about bankruptcy.
1) What would be considered luxuries (i.e. not included in I&E assessments)? I have a number of animals - particularly my dogs - that I will not rehome for love nor money but I am worried that these would be seen as a luxury, and their costs not included in an expenditure assessment.
2) Are family debts excluded from such an assessment? I owe my family a lot of money. I'm not wanting this to be wiped off - I fully intend to pay it off, but my family are fine for me to pay it off whenever I'm able. Just curious as to whether it would be included is all, really. |
| 4 L A T E S T R E P L I E S (Newest First) |
| nikirushka |
Posted - 25 October 2009 : 22:01:01
Ah ok, I see.
Re. your last question - all pets, none have ever been nor ever will be bred. Three of my dogs are neutered, the fourth will be whenever I can afford to have it done.
Two of the dogs are purebred (pedigree, but only one is actually registered). |
| debtinfo |
Posted - 25 October 2009 : 21:45:41
Hi what i mean when i say surplus is this. The OR will look at your income and essential expenditure (food, rent, heating water etc etc). remember that you will not be making any payments direct to your creditors. If you have a surplus each month of more than £100 then the OR will take between 50% and 70%. The rest is left to you to do whatever you want with. Some of the pet costs will be classed as essential expenditure and so accounted for before the OR takes a cut some will not and so has to come out of the surplus you are left with.
Another question, are the animals all pets or have any ever been used for breeding or are any pedigree animals |
| nikirushka |
Posted - 25 October 2009 : 21:37:56
OK. When you say surplus, do you mean what's left after income/expenditure or after sale of assets?
Because either way there wouldn't be anything left. Even without the cost of my pets (which is £100 a month just for the dogs), I'm still running in negative numbers each month.
And I have no assets worth anything to sell - what little I do have is being, or has already been, sold to pay debt. And we're talking little things - like fish tank filters, bric a brac. |
| debtinfo |
Posted - 25 October 2009 : 20:36:35
1) Normally the OR would allow £20-30 pm to look after your pets, if it costs more than this it would come out of the percentage of the surplus that the OR leaves you
2) All debts are included in the bankruptcy, you do not get to choose which are included. Having said that, there is nothing stopping you from being extra generous out of the goodness of your heart after the bankruptcy is finished |
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