Im going BR very shortly but am unsure as to to when as I am married with 2 children but will soon be moving out to give my wife some "space". This has brought some severe presuure on our relationship. What i would like some advice on is wether to go BR whilst still at home paying all bills etc with a low DI, as once I move away my wife will receive benefits towards rent, council tax etc. I intend to be with friends/family etc in the short term, with the hope that things will get better at home? This would mean that my DI will be increased, I currently believe it would be approx £150 pcm. Any advice? Cheers in advance
If you are going bankrupt now or very soon, I think it matters not. You are obligated to inform the Official Receiver of any changes that you have in your circumstances and so if your disposable income increases you can expect to have to tell the OR about this. YOur contribution to an IPA woulod be very modest in any event. I suspect also that when you fill in the I and E you may find that you do actually have very little DI. There are plenty of alowances that you can utilise, and so you should look at your expenditure closely and think about those litle things that you spend on each month like perhaps dry cleaning or haircuts, that you don't actually consider expenditure.
Thank you Steve, that is very helpful. It's true that I hadn't thought of putting down the smaller things that are taken for granted, so thanks for that too.
Im going BR very shortly
Posted - 22 January 2010 : 09:56:19
