Budget Allowances in Bankruptcy

[Mart7379]

Hi guys

In terms of allowances what are they for the likes of Groceries, we spend approx £100 per week on shopping based in 2 Adults and 3 Children. And on average what we spend. But am interested to learn the actual allowance allowed for this and other Allowances anyone can advise to be the maximum allowance.

I have recently done a statement of Affairs with accurate figures. But wanted to check my spending isn’t actually classed as more luxury than essential.

[Foggy]

These figures are not generally published and the only guidelines I have to hand are IVA expenses from 2015. I gather that IVA figures are a bit more generous, but would imagine they are broadly similar. In an IVA a family such as you describe would be allowed, monthly, at 2015 rates ( which do not vary much year on year), for food, toiletries and cleaning: Per couple - £185 - £354 (guideline £287) plus £54 - £86 (guideline £71) per child.

[Mart7379]

Since my post I found a allowance guideline online, and it states allowance on housekeeping being £335 per couple then £80 per dependant child. So a total of £575, comparing that will my housekeeping on the SoA I completed I’m spending below the allowance.

Having said that it is obviously very important to be factual in my application.

Thanks for your advice

[Foggy]

Could you post a link to that guide, please ? Thanks

[Mart7379]

It’s actually sent via email. I will try and get screen shots. It’s vague in some expenses but give a figure on most.

[Mart7379]

Actually not actually sure how to post images.

The website I retrieved the PDF from was

https://beatmydebt.com/bankruptcy/bankr ... nses-guide

[Mart7379]

There’s another here from Gov.uk, so probably more accurate, however out of date as this was compiled in 2015 by the looks of it

https://assets.publishing.service.gov.u ... -2015.xlsx

[Mart7379]

Looking at the figures on the expenditure allowances, my actual spending seema substantially lower than that of an average household of my size.

I am putting off the application for Bankruptcy as I am worried about it. A leap into the unknown I suppose. Getting a really horrible Official receiver, I’m no good on the phone at the best of times, if I get someone with an attitude problem. Are all things constantly running around in my head.

I know they have a job to do, but are the OR’s horrible people, or friendly. Or is it a case of I might get a nice friendly 1 or I might get a nasty 1.

Also, bankruptcy is usually discharged after 12 months providing no problems arise. Is there monthly expenditure check ups, quarterly. Or after the interview in the early stages are you left alone until discharged?