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| ivafailling |
Posted - 24 March 2007 : 15:20:25
Hi All again
I am now mind made up, and going ahead with this.
I have ditthered long enough, and wish i had done this sooner and it as all behind me, 3 years ago when i started my iva i should have done this, it then be just a distant dream i think
I am trying to get things right in my mind before proceeding, last think i want is any trouble, or to look like i am trying to take the piss.
I live in rented accomadation, (but rent from a familly meber, on an informal bais. no tenancy agreement, and rent is paid in casy to him)so any ideas about how to proced with this?
i have no proof of rent paid????????
No assets only a car worth about 600, which i need for work, most furniture is the landlords and no disposable cash to speak of.
earn basic of 1600 take home every month, but do sometimes work overtime and it cn go up as high as 2100 take home.
Married, and the missus isnt english and food bills would be condidered higher than average i suppose due to her ethnic requirements, 5 year old stepdaughter just come to live with us recently and missisus 5 months gone with our first child.
Could do with some advice on expenditure per month regarding food/household stuff for cleaning etc, i know someone has posted 35 per adult 25 per chi;ld per week, is this considered reasonable, low or excessive, does this include all weekly shopping, as well as food, ie cleaning, washing powder, soap etc?
Also what would anyone consider a reasonable amount for clothing, per adult, per child and i have no idea wht to put for the forthcoming newborn, anyone advise?/?
Any websites with national averages or exapmles??????????
Also my wife has just started a claim for child benefit and tax credit (although we will only get the basic amount, 520 a year) will these be expected to count to total income?
And later in the year she will probably be entitled to maternity benedfit, which is 110 a week, but this will only be for 26 weeks, what should i do about this include it or not, as when it stops what would happen then????
Mny thanks all.
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| 4 L A T E S T R E P L I E S (Newest First) |
| Debtdummy |
Posted - 24 March 2007 : 19:17:24
Now, I did locate this bit of information. You thought your wife had 26 weeks she has more actually. That's good news. Again, confirm this.
The government intends to extend paid maternity leave to 39 weeks by April 2007, with a goal of extending it to a full year by 2010.
The link is:http://www.insolvencyhelpline.co.uk/
All I have left is my sense of humour. |
| Debtdummy |
Posted - 24 March 2007 : 19:05:44
quote:
Originally posted by ivafailling
Cheers mate, but she had a scan 2 days ago whilst in her familly home in the far east, and weve been told its 80% certain a boy.
As for including her thats a nono, she knows i have credit problems, but wouldnt know what an iva is if i hit her in the face with it, and also probably doesnt understand bancruptcy, i will be doing this without letting her know as much as i can.
Just unsure if her benefits would be included as income, (havent claimed yet, but will be doing so early april when she arrives)
I have browsed some other forums today and have to say, your expenditure looks a bit low to me, (360 pounds housekeeping????)compared with what i have read on other forums, but then again i suppose everyones cirumstances are different.
Thisg about the rent is, do you theink the court will want to ask him as proof, or will the agrrement be enough?
I want as little people to know about this as possible, especially familly members.
It's a boy! Congratulations. However, there is always that other 20%(smile). If your debts are yours only, no problem she'll never find out. If it will only confuse her more do not disclose, but then you are carrying the weight of this on your own. Also, if there is a language barrier, she may not understand ut anyway; and she is expecting.Maybe better not to disclose presently,but in the future when her english has improved.
As for the rent the verbal agreement may not be enough to satisfy the OR. Either way the OR *may* inform your landlord about the bankruptcy just to make sure there are not any arrears.
The figure of £360 is groceries only. It does not include the housekeeping. Remember, nappies are expensive and you will require them as well. Maternity benefits may not be included as income. It's treated like child benefit and incapacity benefit,but let me check on this to be sure. You can always contact the insolvency helpline number Monday and they will know definitely.
If you file before 5 April 2007 there will not be a nil tax code. That's explained on this forum.
Take care.
All I have left is my sense of humour. |
| ivafailling |
Posted - 24 March 2007 : 17:37:10
Cheers mate, but she had a scan 2 days ago whilst in her familly home in the far east, and weve been told its 80% certain a boy.
As for including her thats a nono, she knows i have credit problems, but wouldnt know what an iva is if i hit her in the face with it, and also probably doesnt understand bancruptcy, i will be doing this without letting her know as much as i can.
Just unsure if her benefits would be included as income, (havent claimed yet, but will be doing so early april when she arrives)
I have browsed some other forums today and have to say, your expenditure looks a bit low to me, (360 pounds housekeeping????)compared with what i have read on other forums, but then again i suppose everyones cirumstances are different.
Thisg about the rent is, do you theink the court will want to ask him as proof, or will the agrrement be enough?
I want as little people to know about this as possible, especially familly members. |
| Debtdummy |
Posted - 24 March 2007 : 17:11:02
Hello iva failing, I am not a bankruptcy professional. I am one of those people who had an IVA proposal which was unrealistic. My husband and I knew we would not be able to afford it. We had no other debt relief options available to us except a bankruptcy. Now, on to you.
You have in your family yourself, a wife, a 5 year old step-daughter and another due in 4 months. The OR is looking for reasonable expenses not basic which is a nice change from the IVA. I can't tell you what is reasonable for your family. However, to give you an idea I can give you some of my expenditures for a family of three. Myself, hubby and daughter.
Monthly Expenditures
Food 360
Clothing 40
Petrol 120
Haircuts 10
Drycleaning 24
Contingencies 30
Entertainment 30
Dental Ins. 35
Mobile 22
This should give you an idea. You can also include holidays and birthdays, presriptions and union dues. There is an expenditure list on this forum seek a bit it may help you. IF you have surplus income the OR will take a percentage of it and pay back your creditors, the remainder is yours. This list is also on this forum. There is also an explanation of what an IPA is on this forum as well.
As for filing for bankruptcy and fee finding. The Official Insolvency site has the application online. You fill it in and print off when all information requested is completed. DO NOT sign it. Signing will be done at the courthouse. Contact courthouse for an appointment and to find out how many duplicates of the petition you may need.
Finding bankruptcy fees. STOP paying the creditors immediately. That is where you will find the funds to pay for your bankruptcy. Just be prepared for your tellephone to ring from 8am-8pm.Pay your utilities, rent/mortgage and council tax. BTW, the debt collectors do not care if your wife is pregnant, but you do so unplug the telephone when it becomes too much to stand. As for pestering you at work tell them you can only accept emergency contacts and that certainly isn't one of them...click.
Regarding the rent. Tell your family relative to go online and get an Assured Shorthold Tenancy Agreement. Pay a deposit a month and a half should suffice to your relative if you have not done so already. They are inexpensve and some are even free. Use that to show the OR as proof of rental amount and that it's not in arrears.
Peruse the forum for information you may need. There is a lot to take in regarding a bankruptcy. The better informed you are the less frightening the experience. ALSO, it is important for you to seek professional advice. The DJ is going to ask you if you have BEFORE he approves/signs it. If you reply no, he does not approve it and you have just wasted £485. CCCS is excellant: 0800 138 1111. There is also an Insolvency Helpline: 0845 602 9848, not free, but very helpful.
One more very important point then I will be quiet and you can read this in peace (smile). IF you file for bankruptcy your wife may have has to file because if only you file they will them turn their vulture type heads in her direction. She will then become liable one half of ALL the joint debt which you TWO have signed for on the dotted line together. IF they are ALL your individual debt only you have to file.
Believe me when I tell you, I know all of this is all a bit daunting presently, but it really does get better. There is a light at the end of the tunnel and it's not the one on the train (smile). You really tried for 3 years with an IVA so hold your head up proudly. You are doing the best you can with what you have.
Ahhha, one more thing. Mention in your BR statement that your wife is expecting. It will help to explain your expenditures easier.
Good luck and take care. Continue to post so we know how everything transpires AND to know if it's a girl or a boy (smile). Hmmm, I say a girl.
All I have left is my sense of humour. |
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