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gunx01
Starting Member
23 Posts |
 Posted - 04 February 2010 : 12:23:15
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I have received the forms to declare myself Bankrupt.
Looking at them intially they seem very daunting.
Is it wise to use the Bankruptcy Assist service available on the home page of this site? Does anyone have any experience with this service? Or should I just fill them out my self (I suppose I could post any questions I have about the form on this site). The main reson I ask is because I want to know if the judge will frown upon the fact that I paid someone £350 to do the legwork for me??
Thank you in advance for your help |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 February 2010 : 12:28:00
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Hi Gunx
welcome to the forum
The judge will not frown upon you if you have paid for proffesional advice to go Br, in fact it is one of the questions that they ask.
Yes you can fill in the forms yourself
yes you can ask for the site to complete the process for you
Yes if you have a complex or anything unusual about your BR it would be appropriate to discuss with one of the experts to the left.
regards Richard |
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gunx01
Starting Member
23 Posts |
Posted - 04 February 2010 : 12:48:03
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quote:
Originally posted by Richard P
Hi Gunx
welcome to the forum
The judge will not frown upon you if you have paid for proffesional advice to go Br, in fact it is one of the questions that they ask.
Yes you can fill in the forms yourself
yes you can ask for the site to complete the process for you
Yes if you have a complex or anything unusual about your BR it would be appropriate to discuss with one of the experts to the left.
regards Richard
Wow!! Thank you for the speedy reply!
I also feel that it is in my best interest to have some expert help so will discuss this with my partner.
A couple of other things... In the form, where they ask you for a list of Creditors with the amouts owing, do I have to list every single one or do I just put the name of the company dealing with my IVA?
If it is only the company that has dealt with my IVA, what amount do I put? eg. the amount left owing or the full amount of the IVA?
If it is each Creditor, am I able to obtain a list of these from my IP with the exact amounts owing?
I have an I&E report, am I able to post this in Excell format for you to view? I just want to get peoples views on wether some expenditure is excessive or not.
Thanks again, if I do not reply or I am offline it is because I have gone to work and will be back on later in the evening to which I will reply. Thanks. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 04 February 2010 : 12:58:35
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There is no problem with using professional assistance but in most cases it is unnecessary and can be costly at time when money is very tight.
If you do decide to use professional help then use one of the firms below:
Reviva UK: http://www.revivauk.com/
Jones Giles - http://www.jonesgiles.co.uk/
They both post on this board and are very highly respected.
As to your questions you should list each creditor individually as you still owe them the money and not the IVA firm.
I don't think you can post Excel forms on this forum but you might be able to copy/paste the information.
If you previously had an IVA and this has failed then you will need to take the certificate showing it has failed with you to court. Not all courts need to see the certificate but some do so it is best to take it with you. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 February 2010 : 13:51:10
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Hi again Gunx
slower at replying this time !
if, when you do speak to one of the experts try to make certain that you and your partner are present, if it is a phone call ask the expert if you can put call on speaker and introduce your partner.
If you can persuade the expert to do home visit or office appointment (coffee, Buns or Biscuits normally work as persuader !) you will find that hour one of the most beneficial ever as both you and your partner will have a zillion and one questions.
Paul at Reviva came and did a home visit with us, it was a tremendous release of pressure. The reassurance and guidance was just the boost we needed.
if you do decide to work with any of the experts they will help with your I & E, they will probably do the paperwork and submission for you
regards Richard
regards and good Luck |
Edited by - Richard P on 04 February 2010 13:53:53 |
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gunx01
Starting Member
23 Posts |
Posted - 04 February 2010 : 21:21:10
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Thank you all for the help so far.
I have pasted a copy of my I&E, please let me know if any of the expenses seem excessive.
My current living situation is that my wife and I live with my parents and we are expecting a baby in August.
My only assett is my car which is worth (according to Parkers) £1800 (in poor condition), I recently took the car to the garage and found that it needs roughly £1000 worth of work carried out and will fail the next MOT if some problems are not fixed by then, including a major service. I am aware most people would say "get rid of it!" But I love it too much and I am able to carry out the work to it slowly myself and at minimul cost.
My wife does not drive and starts work at 5.45am so there are no buses available and cabs would cost too much, so I have to take her.
My shifts are all over the place! Mon-Sun including Bank Holidays starting at anytime from 5am and I could finish on certain days at 2am. I would have to catch 2 buses to work and that is if they are running at all during the unsociable hours, again cabs would cost too much.
Anyway here's the I&E: (It is only me that will be declaring Bankruptcy)
ESSENTIAL
Rent on your home - £500.00
Housekeeping - £130.00 (Partner) £289.00 (Me)
Travelling - £155.00
Clothing - £40.00(Partner) £30 (Me)
Mobile phone costs - £35.00 (Partner) - £5.00 (Me)
NON ESSENTIAL
Hairdressing - £10.00 (Partner)
Driving Lessons - £78.00 (Partner)
Union Membership - £10.00 (Partner)
Social and entertaintment - £10.00 (Partner) £10.00 (Me)
Alcohol - £20.00 (Me)
Cigarettes - £30.00 (Me)
MOTORING EXPENSES (All Me)
Insurance - £35.00
Petrol (As above in Traveling Expenses)
Road Tax - £17.00
Servicing£ - £10.00
MOT - £3.00
Manintenance (Repairs) - £20.00
Breakdown Cover - £5.00
CREDIT CARDS/ LOANS (All Partner)
Loan - £234.00
Credit Card - £25.00
Other Loan - £88.00
TOTAL EXPENDITURE - £1,789.00
INCOME
Wages - £660.00 (Partner) £377.00 (Me)
TOTAL INCOME - £1,037.00
DISPOSABLE INCOME - (-£752.00)
Rent includes board, all bills e.g water, gas, elec, tv etc..
The housekeeping figure includes food for home and for lunch at work and household cleaning products and the costs for the baby too.
Please give me your feedback.
Thank you. |
Edited by - gunx01 on 04 February 2010 21:39:36 |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 05 February 2010 : 06:56:50
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Is your partner declaring BR as well? If not then her details shouldn't go on the I&E. If she makes a contribution to the food, utility bills, etc. then you can just put this amount at the top of the I&E:
Your income - £660
Partners contribution - £200 or whatever it works out to.
You wouldn't put any outgoings down that are only for your partner so things like 'Hairdressing - £10.00 (Partner)' wouldn't appear.
The following aren't allowed in BR and need to come out of any DI:
Social and entertainment - £10.00 (Partner) £10.00 (Me)
Alcohol - £20.00 (Me)
Cigarettes - £30.00 (Me)
For 2 adults you should put something like the following down:
Your income - £660
Partners contribution - £200 or whatever it works out to.
Rent - £500
Housekeeping - £380 (the guideline is £387)
Haircuts - £10
Telephone including Mobile - £40 (the guideline is £49)
Clothing - £70 (the guideline is £102)
TV licence - £12
Travel to/from work - £155
Car Insurance - £35
MoT/Servicing - £25 (you can put more down if your car needs repairs but £25 is the general guideline amount)
Car Breakdown - £5
Council tax - ?????
Work meals - you are allowed £2 per day so put £40 if you have meals at work.
Dental/Prescriptions - Even if you are not on a regular prescription or need dental work you should still put £10 for emergencies.
You can also put down Dry Cleaning at £10 per month if you need work clothes dry cleaned.
A Domestic Break can also be put down but this isn't always allowed. £50 for 2 adults should be ok but as I mentioned the OR may not allow this.
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jono
Starting Member
United Kingdom
13 Posts |
Posted - 05 February 2010 : 10:40:36
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Hi,
My wife and I also found the forms very daunting. I recently lost my job in IT and currently suffering from long term depression and anxiety, my wife is on maternity leave - we were not in any position to think straight. My wife telephoned Paul at Reviva and was overwhelmed by his patience and understanding. A colleague of his came to our house within the week and talked us through everything, again made us feel comfortable and put our worries at bay. We are looking to file for bankruptcy at the beginning March.
Getting an expert to assist us through this terrible time has eased the emotional suffering for us both.
I can't wait for the storm to subside.
Jono
To know the road ahead, ask those coming back. |
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gunx01
Starting Member
23 Posts |
Posted - 05 February 2010 : 21:13:48
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Ok, so here is the amended I&E (As it is only myself that will be declaring BR)
ESSENTIAL
Rent (inc. all bills) - £500.00 (Wifes contribution = £100)
Housekeeping (Includes food for home and for lunch at work and household products eg. cleaning, toiletries etc..)- £380.00 (Wifes contribution = £40)
Travelling - £155.00
Clothing - £30.00
Mobile phone costs - £5.00
MOTORING EXPENSES
Insurance - £35.00
Petrol (As above in Traveling Expenses)
Road Tax - £17.00
Servicing & Manintenance (Repairs)- £25.00
MOT - £3.00
Breakdown Cover - £5.00
MY TOTAL EXPENDITURE - £1015.00
MY TOTAL INCOME - £377.00
DISPOSABLE INCOME - (-£638.00)
My wages do fluctuate between the minimum of £377.00 per month to £750.00 per month depending on overtime, but even if I earnt £1000 per month I would only just break even.
After my wifes contributions and after she has paid her bills, she is left with £0.00. On top of all this, we have a baby due in 6 months! So that will add more costs.
Do the motoring expenses seem ok? Do you think I will be allowed to keep my car? Considering the following...
"My only assett is my car which is worth (according to Parkers) £1800 (in poor condition), I recently took the car to the garage and found that it needs roughly £1000 worth of work carried out and will fail the next MOT if some problems are not fixed by then, including a major service. I am aware most people would say "get rid of it!" But I love it too much and I am able to carry out the work to it slowly myself and at minimul cost.
My wife does not drive and starts work at 5.45am so there are no buses available and cabs would cost too much, so I have to take her.
My shifts are all over the place! Mon-Sun including Bank Holidays starting at anytime from 5am and I could finish on certain days at 2am. I would have to catch 2 buses to work and that is if they are running at all during the unsociable hours, again cabs would cost too much".
Thanks for the replies so far guys, everything is helping me and my wife slowly get out of a dark place!
Oh, one more thing.... Does the OR actually come to your house to see what assetts you have or do they just take your word for it? |
Edited by - gunx01 on 05 February 2010 21:31:30 |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 06 February 2010 : 07:52:54
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The motoring expenses seem fine. From what you have said you should be able to keep the car although you may need some proof regarding the condition of the car. The OR uses Parkers but won't use the 'poor' guide price so the price the OR uses may put it over the normal £2k threshold. If you have a quote from the garage regarding the cost of repairs then this would probably help.
The OR doesn't come to your house but mine asked for copies of the MoT, road tax and insurance for my car.
The OR may also want to know how you intend to get the £1k together for repairs.
If your age fluctuates then the OR may want to see the last 3 wage slips and will take the average as your monthly wage. |
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Bankruptcy - Filling out forms (Help!!)
