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gdc
Starting Member
12 Posts |
 Posted - 07 October 2008 : 17:28:31
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My wife and I are seperating, we both need to go our seperate ways sooner rather than later but have no equity in our house and are massively in debt. If we were to go bankrupt and give up our home, would the receiver allow us to rent property (i.e a modest 3 bed semi) seperately, under normal living expenses, as we have 2 children but would both like joint custody. Also if I needed to pay the first 6 months in advance, would the receiver see this as a justifiable spend?
Also what are the allowances on living expenses.
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BankruptC
Senior Member
1030 Posts |
Posted - 07 October 2008 : 17:46:47
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Hi gdc and welcome to the forum!
I'm not 100% sure on this and hopefully someone will come along to confirm it (or otherwise!), but the way I see it is this. If you go BR whilst still living together, the OR will assess your Income and Expenditure as it is at the time (eg mortgage etc), but as soon as you move out, your circumstances will have changed and your income and expenditure will be reassessed, depending on how many people there are in the household etc.
With regards to the 6 months' rent in advance, I don't see it being a problem really, if that's what you have to pay, but of course you wouldn't be able to claim it as expenses on your I and E for the 6 months.
Hope that helps a little at least!
C. x |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 08 October 2008 : 13:56:35
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Hi gdc and welcome also.
On my blog there is a slightly out of date link for what the OR may consider as allowances. This is the only one available at the moment and although slightly outdated it can give you a rough idea.
I hope that all goes well for you.
Take care
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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My wife and I are seperating
