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sjbyron
Average Member
United Kingdom
746 Posts |
 Posted - 29 November 2008 : 12:35:56
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Hi
I have £43000 of debt, with a failed IVA for the second time and considering either DMP or Bankruptcy, however I think I am going to loose my job soon again, and have found an ideal job but its only £14,700.00 per annum.
Ive also signed up for a gym training course so that I can get more money and better prospects.
Im therefore considering bankruptcy but have the following burning issues:
1. I pay my mum £380 a month rent, will this still be allowed
2. I have a housekeeping budget of £140 which is for clothing, toilettries, food for work, extra food outside the housekeeping will this still be allowed
3. I have a mobile phone and pay £28 a month for it, will this be allowed
4. The training course I am going to do is from March and is £131 a month for a year, and then I would need to hold back at least £30 a month for CPD would this be allowed
5. I have a car on HP With GECapital it expires 2010 will I be allowed to keep this going
6. I have a contingency allowance of £40 will this be allowed
7. If my income is £997 and my outgoings are £994 will I have an IPO
8. I Have an Abbey basic account, can I keep this if I go bankrupt
9. I live in Liverpool whats the bankruptcy proceedings like there
10. Can I file for Bankruptcy online
11. If I can file for Bankruptcy online, and want to go bankrupt in March/April 2009 when should I file for it?
Thanks
Stu
Stu J Byron |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 29 November 2008 : 14:46:29
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1. I don't think this would be a problem as it's not excessive. Does it include food and bills?
2. This might be disallowed, although you will be allowed a clothing allowance. If your rent includes food you might be better listing that seperately.
3. Is it a contract or pay as you go? I kept my contract, but a lot of people have had them either disallowed by the OR or terminated by their service provider. Also, do you have a landline? I didn't have one in my name, so I listed my mobile under telephone.
4. I'm not sure about this, hopefully someone else will be able to advise.
5. Do you need your car for work? If so, you may be able to keep it, although it depends on how much the payments are, and whether the finance company are happy for you to keep the car.
6. Contingency will probably be disallowed. You only pay a percentage of your surplus into an IPA so you are expected to use your part of the surplus for contingencies.
7. No, you won't get an IPA with less than £100 of surplus income. However, you need to be prepared that the OR might not allow all your outgoinfgs.
8. Providing the OR has no interest in the account then it's down to the bank's discretion whether you can keep the account.
9. Sorry, I can't help you with that, but you could have a look at Scaredkez's blog on the IVA site as she is from the Liverpool area.
10. You can complete the BR forms online, but you need to file BR at your local county court.
11. You would need to contact your local court to find out what their procedure is. Some courts have an appointment system and other courts have a walk in system.
If you are planning on going BR in March/April, I would recommend doing it in this tax year rather than the next one as this would mean that you are unlikely to get a Nil Tax Code as HMRC are unlikely to have time to implement it.
If you get an NT code you don't pay any tax for the remainder of the tax year, but you hand it over to the OR as an NT IPA.
I hope this helps, and good luck x
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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Thinking of Bankruptcy need some questions answere
