Bankruptcy advice and questions

[fermi]

You OH's contribution should go in the box 6.7.

 

This should be helpful (but a long read).

 

OR's Technical Manual - IPAs Assessment of real disposable income

 

And if you can open an Excel file, this should let you work out roughly how much an IPA (if any) would be:

 

Income Payments Calculator (Excel spreadsheet)

[geministar2007]

OH's??

 

I do not have excel.... any chance you could put figures in or into a diff format if poss? Would really appreciate it.

[fermi]

OH = Other Half

 

Sorry. Too used to forum/internet shorthand.

 

That spreadsheet is a calculator, so it's a bit hard to put it into another format.

[geministar2007]

i have been searching everywhere on net for this info. thanks in advance

[geministar2007]

Will my orange contract be taken away from me when i go BR, i pay around £30 a month.

 

Also i realise SKy is seen as a luxury, however it is my partner who uses SKy, is it worth telling sky to have the account in his name only and remove mine? His name is already jointly on the account.

 

 

Thanks

[fermi]

These are the IPA bands.

 

 

or in full:

 

[geministar2007]

when going Br will the OR take working tax credit as income? i am confused as i read on net benefits are not classed as income as they are means tested, i.e you are under a certain yearly amount to get working tax.

 

On my BR form i have included the working tax figure in my income section however the amount i have wrote is the amount for myself and partner am i to include this or divide it by 2 as it is for both of us and he is not going BR.

 

I am concerned as at mo i have a surplus of 350 a month, but i think i should have included dentist, prescriptions etc

 

Thanks again everyone

[fermi]

The mobile may well be OK. It is nowadays seen as a reasonable expense.

 

If your bills were much more than you say then you might be required to meet the extra out of any surplus you were left with.

 

Sky is non-essential though.

 

But if you wish to pay for that out of any surplus you have left over after any IPA is deducted, then that is up to you.

 

For example; if you hadd £100 per month surplus, then an IPA would claim £50. If you decide to spend the £50 you are left with on Sky, that is totally up to you.

[geministar2007]

thank you, i'm sure i dont have a 350 surplus a month!? which would mean i pay 231 a month in a IPA/IPO. Do you know if when inputting the working tax amount i should be halfing the figure as the one ive put in is the total working tax received for myself and partner??

 

Thanks so much for forms

[geministar2007]

does anyone have any info on what figures are deemed as acceptable in expenses eg food, dentist, clothing and so on....

[fermi]

does anyone have any info on what figures are deemed as acceptable in expenses eg food, dentist, clothing and so on....

 

Check your PM's.

[geministar2007]

The Section Which States Income Is This To Be Before Tax And Ni Or After I Have Put The Amount Before.

[geministar2007]

i think i have got confused, missed some figures out of expenditure and i also wrote my income in before tax and ni deducted so that made that smaller. i think working tax is classed as a benefit so if that is the case well i have no surplus i'm actually a minus figure. and if it is my figure i think is 189, but am i right you can keep first 100?

 

So grateful to everyones advise on this, it is all very confusing.

I hope they dont mind mistakes and tip ex on form???

[gizmo111]

Your income is after tax - what have you actually put in the expenditure?

have you included absolutely everything, with provision for emergencys, holidays, haircuts, car tax maintenance etc?

[geministar2007]

i have not included holidays as i dont ever put anything away for holidays. I was going to put a small amount in the emergencies section say 10 a month?

 

I have included the following: rent, c tax, elec, (dont pay water or tv), food and HK, mobile phone (i dont have a landline) travel clothing, contense insurance, dentist.

[Sugarbabe47]

Hi Geministar2007:)

 

I put down emergency - £10.00 per month

Holiday - £20.00 per month

Dentist - £08.00 per month

and was allowed them, I also put down haircut £10.00 per month, pre pay prescriptions, and also dogfood for my dog went on and I was allowed them all.

Like some people told me we have struggled and struggled for so long we don't make the proper allowances that we are entitled to.

So if you have any pets put their food down too!!

Haircuts for all family members should be ok and so should holiday fund for all of you, I would put £20.00 down for a family, you may be allowed, you have nothing to lose.

Take care

Sugar x x x:D

[geministar2007]

thank you i have done it now. i had forgotten some stuff i have not put sky down as my other half pays that now in both names, if we have to cancel and start again in his name alone than fair enough. Sky will be on my bank statements but i will tell them this when the OR calls.

 

Thanks all for your advice will keep you posted! xx

[geministar2007]

Hello me again.....

 

When the Nil tax code is applied when going BR, does this mean your employer will know you have gone BR? Who else would have Nil code?? What other reasons would be behind a Nil code

 

Also i'm due to go BR end of this coming week. When would the code be applied and is it only until the begin of the new tax year?

 

Thanks everyone,

[geministar2007]

I have worked out i have spent around £500 on gambling within 2 years.

 

How will the OR see this?? I know they may impose a BRU/BRO. Just wondered to what levels of gambling they would impose this. And for an amount like this how long this would be for. I believe the min time is a further 2 years?

 

Also as £200 + of it was deposited from a lloyds basic cash card, with no overdraft, therefore i was in credited. Is that looked upon as badly as taking it out of an overdraft or credit card? as obviously one does not actually have the money to spend, it is a debt.

 

£500 seems a small amount compared to some of the BRU/BRO bankruptcy cases i have read on the insolvency site, those peoples gambling debts were in their thousands if not more.

 

I am far from an addict just like the odd flutter (and have been lucky at times).

 

Anyone had a similar experience?

[geministar2007]

Can i apply for a bank account before i go BR, if it is basic and the bank/building society know during the application i am BR?

 

Does anyone recommend which banks/building societies to use?

 

I cant go with barclays, i owe them money.

 

Co op, i have no local branch.

 

I have a Nationwide and Halifax near by, however would their accounts allow direct debits and standing orders etc?

[palomino]

You could have a nil tax code from overpayments of tax in previous years.

 

Your employer isn't told of the reason for the nil tax code, although it is naturally possible to draw conclusions.

[palomino]

You should be able to get what is called a 'basic' bank account. This is just another name for the standard instant access bank you use with a passbook (at least with a building society).

These accounts don't allow direct debits or standing orders.

[palomino]

That order of gambling is pretty small beer. You should tell the OR however he probably won't be interested.

Bear in mind that that is equivalent to about £5/week which is what a lot of people spend on the National Lottery.

[geministar2007]

ok thanks. yes i didnt see it like that. i went through my basic bank account statements and found i had spent the most on gambling in the past 6 months just over 200, the rest would have been over a year ago. if it was not listed on my statements i would not even bring it up.

[geministar2007]

i already have a basic bank account a cash card account with lloyds, this was opened earlier this year when i started my debt management plan. This has no overdraft or the facility to apply for one. I have listed this in my BR forms, however i am hoping the OR will have no interest in this. What do you think?