BR Payments

[fudge34]

Hi Guys
Well am doing the deed! just finishing off the last sheet of the form for my I and E and I wanted the experts to check if the following seems reasonable. My husband and I have a joint income of 2700 per month (I am the main breadwinner) I have worked it out below does this seem excessive?!

Mortgage (658.00 interest only) I pay 429.00
Food / Housekeeping (two of us and our baby daugther) 350.00
Gas 25.00
Electricty (husband pays)
Water usually 41.00 - I pay half so 20.00
Telephone charges - my mobile and home phone - 35.00
Travel to and from work - 189.00 *costs me 7 pound a day
Clothing - for me and daugther £100.00
Council tax - 100 - I pay half so 50.00
Insurance - 15.00
Opticians - 17.00
Dentist - 10.00
TV L - 9.00
Nursery bills - 192.00
Car Tax - I make a contribution towards husband car - 7.00

Does this seem OK? I am not sure what to do re daugther she is two but will obviously start school etc before my IP payments are up so need to cost in uniform and after school club should I do that now? it seems a bit premature!

[Skippy]

That looks ok to me, but I don't know what the experts will say. I don't know if you will get away with £7 car tax, although if you don't ask you don't get!

I don't know what to suggest about your daughter, but bear in mind you can ask the OR to reduce the payments if you have a change in circumstances.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[fudge34]

Thanks Skippy - you are prob right about car tax will leave it out - its weird when I was using my credit cards and the like didn't realise how much I had to spend every month on just living - seeing it in black and white in a list makes me wonder how I ever thought I would be able to pay the IVA payments every month!

[Skippy]

I know what you mean! I didn't realise how much I actually spend! There is nothing to stop you paying towards your husband's car tax from your surplus. This may sound strange but have you covered everything - do you have regular prescriptions? What about a contingency fund (mine was disallowed but it doesn't hurt to ask!)? Holiday? Hairdressing?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[fudge34]

Hi
No haven't put down prescriptions or holiday fund as it seems too excessive should i perhaps put down 50 pound per month for holidays? am so nervous this time tomorrow I should be there at the court!

[Skippy]

I put down £50 per month for holidays but the OR reduced it to £20 - I was surprised to get anything though! I didn't claim for prescriptions but the OR reduced something and added that in - not sure why as I hope I don't have to have £10 of prescriptions per month! I have listed my allowances in my blog, but bear in mind I haven't got children. The housekeeping looks high on mine, but the way we have split the bills means that I pay all the housekeeping and Dave pays more of other things.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[pippa]

Hi fudge

I put £50 holidays and £20 hairdressers and thats for my daughter and I, and the OR didnt quibble just ok'd it. Just put down what you think the worst that can happen is that they will say no.

Good luck

Pippa

[fudge34]

Hi thanks all - am feeling everso slightly sick with nerves don't want to do it but came home today to a CCJ from NR for my loan which is a sign isn't it?! argh - this time tomorrow it will all be over - what should I do about taking money out from my current account will it be frozen straight away or will they allow me to withdraw some money to live on until I next get paid?!

[pippa]

Fudge I suggest you withdraw it before going Bankrupt.

All my bills were paid and I had £130 in cash left, I put in on the forms as cash in hand, and OR never mentioned it.

Good luck tomorrow, you will be ok for sure, chin up!

Pippa

[fudge34]

Thanks Pippa am dreading it feel so sick!

[lily]

Good luck for tomorrow fudge34.

I hope it goes well for you.

lily

[Skippy]

Good luck for tomorrow Fudge. Make sure you withdraw your money before you go bankrupt as from the moment the judge signs the BR order your bank accounts belong to the OR.

I actually forgot to declare my cash in hand on my BR forms, but by the time I had paid the fees and the bills there wasn't much left! The OR didn't mention cash in hand though.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[fudge34]

Hi thanks Skippy I was just hoping you would drop by - am slightly scared as I transferred some money into my basic account yesterday as I have to pay my child's nursery fees it won't clear until Tuesday as its internet banking and takes around 5 days - am worried that I will 'lose' that also have already withdrawn up to my limit today and I will still have three hundred pounds left in the account should I transfer this money to my husband tonight to say its for nursery fees or household goods and explain that to the OR? am confused about what to do -

[MelanieGiles]

And the technical answer is that you should put down exactly what you spend now, and what you think you are likely to spend over the forthcoming year on exceptional items such as medical, house maintenance etc. The OR may well cut back some of that expenditure, but if you don't ask you don't get, and they will allow you to retain some of your income in any case.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[fudge34]

Thanks Melanie - wish you could be my OR! Can you advise me on my last question. I have a basic account that has no od on it and is in credit. The three hundred I have left in it is my money for my child's nursery fees and I am expecting a bank / internet transfer to hit the account on Tuesday (transferred it yesterday) as i have no other bank accounts for this child tax to go into. If they freeze all my accounts tommorrow then all my money belongs to the OR and I need it! I cannot withdraw any more as I need to withdraw another 250 tomorrow (my limit) for the rest of the Br this account is in credit as I don't have an OD what should I do?