Aquestion for melanie -outgoings in Bankruptcy

[sjbyron]

Hi

Sorry for all the questions:
is the following outgoings ok or too much, also should I include the further education in this, I have put in my statement that due to my depression and the fact that I am being internally investigated in nursing I do not see me returning to nursing for the distant future, and because my depression has been trigged by my job in Management, I am going to request a drop in contractual hours, however I feel that this new course in advanced gym instruction will pull together new skills and my nursing skills and maximize my earning potential and be of alot less stress, the course payments complete in may 2010.

Would that be ok?
Also here are myout goings:

Rent £410 (Living with Parents)
Housekeeping for food for work, extra food etc £150
Gas and elec £0
Water £0
Telephone £40 (Mobile)
Travel to and from work and general travel £160 (about 82 miles a day, four days a week)
Clothing £40
Council Tax £0
Car Tax - £10
Emergency, Birthdays fund - £30
Insurance for car £70
Car HP £102
Gym £26.00
Prescriptions - £11
Optical/Dental £10
Union Fees £4
Thinkbanking Bank Account Fees £12.50
Further education course £128.50

[MelanieGiles]

I would increase the housekeeping by £30 and remove the emergencies and birthdays provision.

The rest looks fine to me, but of course the further education may be an issue for the OR.

[sjbyron]

Should I remove the further education, and the bit in my reason in bankruptcy for this?

If I post my reason for Bankruptcy could you say whether it is ok?

[MelanieGiles]

No - if you don't ask you don't get, and I would put up an aggresive case for keeping it in on the basis that you do need to have an ability to earn, and this additional qualification will help you to do this.

[sjbyron]

Thanks Melanie
here is my statement for reason of bankruptcy, will this be ok, Ive edited it a few times:

In 2004, I started a nursing diploma, at that time, I only had a small amount of overdraft debt, which I managed to keep on top of and repay, however as the course progressed and I found I needed several items included books, clothing, money for food and travel, I became reliant on credit.
In 2006, a year before I qualified I realised that I would not be able to fully repay my debts as the outgoings over stretched my income. I therefore sought help from a debt management company, who took me on board and assisted with my debts.

Although some creditors responded well to the DMP alot did not, so I looked elsewhere, it was around this time, that debt matters approached me with information of an IVA, although the full details were not explained to me, I felt that this was the best option, however this turned out not to be the case, at the same time I lost my job and because the IVA from Debt matters was being poorly administered it failed. My debts were left in limbo, so I looked at another IVA or DMP, so went to Gregory pennington who put me in touch with Freeman Jones, my IVA was approved by them, and was working fine, unfortunately I lost my job again, and was also diagnosed with moderate depression, I was granted a three month payment holiday but was not able to meet the back payments so this IVA failed too, I have had a reoccurance of my depression, and feel that the spiraling debt, that I am now unable to repay is starting to damage my health, I believe bankruptcy to be my best option. Due to my depression, I will not return to a full time role, but a 33 hour role within my job, the income stated reflects this.
Due to my IVA's I am unable to give full correct start dates for my creditors, but feel that the dates given are at the best estimation of them.
Due to two of my main creditors being Barclays and Co-operative and the Abbey saying that they wont support a bankrupt with Banking services I have chosen Thinkbanking that is why I need an allowance of £12.50 for this account.

Due to my depression, and because of internal ongoing investigations I have chosen not to return to nursing, within the distant future, and as the role in management I am doing at the moment, is also causing my depression to get worse, I am going to try reduced hours, but along side this I am planning to take a part time course in personal training - advanced gym instructor, to allow me to maximize my earning potential and to join the knowledge learnt from nursing with this course, this course however costs £128.50 for a year and completes in May 2010.

[MelanieGiles]

A very well written and sensible statement Stu. I think it says it all, and will be very helpful to the Official Receiver.

[sjbyron]

Thanks Melanie

Haveing a bad day with the depression today, feel all tense and wound up, silly I know, and I know im going Bankrupt in February 2009 but I want to get the forms done and then have times to add stuff as I go through. I have had to change banks as I have informed Abbey that im thinking of bankruptcy and they said once bankrupt the will close the account, so have moved back to thinkbanking.

With the OR, Do I meet them on the day or do they phone up or will I be one of the lucky ones who will not have an OR looking at their case?

Do you think with my case I wil have an IPA?

And do you think I will loose my car by the OR?

Thanks

[MelanieGiles]

I am sure that your chat with the OR will be held over the telephone rather than face to face - given that you are filing a debtors petition and that you have already been subject to insolvency proceedings.

[sjbyron]

Thanks Melanie

Do you think I will get an IPO?

[MelanieGiles]

How much disposable income do you currently have.

[sjbyron]

with the outgoings as above, and my new income its -£210 a month, im still on my old income, but am going to request for a reduction in hours so I can have fridays off, so have put this on the BR form.