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Bankruptcy: Government Guidelines for Expenditure


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Hi everyone

 

Does anyone know where I can get the goverment set guidelines for what is the budget is for expenditure, that the Official Receivers work on? :confused:

 

I have tried searching the government websites etc and cannot find anything, I did find it the other month but now for the life of me cannot find it!

 

I know certain expeditures are excluded etc, but I need to know what is allowed 'acceptable' for travel, shopping and clothing etc.

 

Thanks :)

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Thanks for that.

 

However, its not quite what I was looking for.

 

There is a set of guidelines that are outlined for single, married, married with children etc, of the max you are allowed to claim for for things like shopping, travel, haircuts, clothing etc.

 

If anyone know where this is - please let me know.

 

Thanks

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I can't find it on my computer just yet but I do know that the figures are referred to as "trigger figures". Google may help.

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I have found this, but it does state that to see the 'actual' figures you need an account.

 

Trigger figures - CFS FAQs - The Common Financial Statement

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It's very reasuring to see that the government allow all sorts of expenditure for bankrupts but pay people on benefits way below these figures :rolleyes:

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It's very reasuring to see that the government allow all sorts of expenditure for bankrupts but pay people on benefits way below these figures :rolleyes:

 

Must admit the thought crossed my mind more than once babybear while converting that spread sheet to html, but you can not realy look at it like that.

 

The trouble with those figures are they are just a national average of what people spend for a given household unit, and include the use of credit, so are not that good a guide.

 

Every OR's office will adjust them, up or down, for regional variations, but most importantly, what your allowed is not set in stone.

 

Just a shame some OR examiners and potential BR's don’t realise that and treat that chart as the Holy Grail.

 

The bottom line is the OR must allow a BR whatever his or her REASONABLE living expenses ARE for there given situation, if the BR can prove it costs more, then the OR must allow more, but equally if the OR can show the BR can live reasonably for less, they can allow less.

 

It’s all how you, or they, define ‘Reasonable’

 

Of course, if the BR and OR can not agree on that point, it is referred back to the court for a judge to decide, and as we all know, that is a lottery to the personal view of the judge you get.

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I have found this, but it does state that to see the 'actual' figures you need an account.

 

Trigger figures - CFS FAQs - The Common Financial Statement

The Common financial statement (CFS) trigger figures are a totally different set of figures, and are used for the preparation of offers of reduced payment or DMP’s by the likes of CAB, CCCS etc.

 

The figures are agreed to be the amount required to live on by most major banks and creditors, and should be accepted without question when a SOA or I&E is prepared using them. The trigger figures are not available to the general public, and are somewhat of a guarded secret, three guesses why that is.

 

In reality, they mean very little, and don’t get accepted, nor stop the harassment as much as they should from what I have heard.

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