Please help! Bankruptcy question

[r.s]

I'm really worried about the differences between amounts of money allowed for bankruptcy compared to IVA. Are the essential outgoings allowed pretty similar? My IVA expenditure was this:
Board 150
Phone 50
Food etc. 180
Clothing 40
contingencies 50
travel 55
One creditor, HSBC wanted to cut this down for the IVA by about 40.I didn't feel this was fair.
In bankruptcy I'm worried i won't be allowed phone or clothes, and how much do they allow for contingencies? (dental? glasses? haircuts?)

[MelanieGiles]

Hi rs

I think that you will be pleasantly suprised at how generous the OR is when assessing your disposable income. See Skippy and Scaredkez's blogs for details of their own recent experiences. You will definately be allowed all of the above expenditure in my opinion, but do let us know the outcome in your particular case.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[scaredkez]

r.s the OR is way more lenient in your allowance, they are there to make sure you remain solvent, in my iva i was allowed 400 for family of 5 for food in BR i am allowed 650, they allow a lot more things in BR than in iva if you need any help to what i put down, and they were genuine figures he changed them and allowed more ask away.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/