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wisey
Junior Member
175 Posts |
 Posted - 22 May 2008 : 17:08:48
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Hi There,
Unfortunatly I have no other opition than to go bankrupt. However my wife is on maternity leave at the moment until Sep, and then after that she is staying home to look after our disabled child (the BR is in my name only), however i know that they want all household details, and as we earn £200 a month extra at the moment, should i apply for it know and put a note on the application to say come sep we will be reciving less, or wait until sep?!
If i wait until Sep what do i say to the lenders until then?!
Also my wife claims in her sole name Disabilty Living Allowance and child benefit - would they need to know this?
We also receive jointly Child Tax Credits - do they need to know this?
And one last thing - every 3 months I also receive a bouns from work depending on how well the company has done - how would i explain this on the application?!
Many Thanks
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 22 May 2008 : 17:43:14
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Hi Wisey - welcome to the forum
I will try and answer as much as I can. I have recently gone BR so can fill in some of the gaps but an expert will be along soon to answer your questions fully.
On the Statement of Affairs (SOA) form - it asks for details of your household income so you can list the details of your wifes benefits. The OR does however know these are benefits and takes this into account when calculating disposable income - so don't think they will look at the extra income and want a chunk of it!
When you go BR you have to tell the OR if there is any change in income - so really if you apply now and then your circumstances change it will be a case of keeping the OR informed. You will be able to forewarn them of this impending change during your interview with them. They will understand that things change.
Same applies to your bonus - I assume you don't know how much you get til its paid - so you will need to keep the OR informed.
Hope this helps - an expert will be online soon to advise you further.
Vicki x |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 22 May 2008 : 20:06:04
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Hi Wisey,
The £200 per month I take it is your wife's contribution?
On the SOA it asks the contribution form other household members towards the household bills you can enter her benefit payments here, however I’m sure your wife incurs her own expenditure so I would leave off the £200 she is currently earning as maternity payment.
This was you won't have to wait till September.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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wisey
Junior Member
175 Posts |
Posted - 23 May 2008 : 10:03:59
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Sorry i didnt explain myself clearly. My wife receives around £450 pm maternity, however that is due to end in Sep. After this she will then be enitlied to claim Careers Allowance for our Disabled child, which i think is around £200 pm. So we will be short of £200pm from sep.
My wife doesnt contribute to one specific thing. We have all the bills coming out of my wage from our joint account i.e household bills, both car insurance's etc and then the money she receives normally provides for our shopping and living money.
However say she contributes £200 a month now, when her maternity stops, the only money she will be receiving is Careers Allowance. Will she be expected to pay her share or will they take into account that this money is to care for our child, and in that case what do i put on the form?!
Thanks for all your help.
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 23 May 2008 : 13:31:28
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Hi Wisey,
In this instance I would enter your wife’s contribution at the lower level.
This will give a realistic figure as to what will be sustainable income moving forward.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Topic |
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going BR with pay uncertainty
