Hi Guy's
To follow on, now that i am BR i thought i would post my experiences on the way there as it may be of help to someone, of course all of us have different circumstance but i really did find that the posts on this forum were very helpfull along the road to becomming a statistic. I'll try to be brief!
I entered into an IVA in March 07 paying £640 per month on an income of £2240 per month and everything was going well until late 2007 when i had to leave my employment as a result of illness caused by an assault at work which left me with a 20% disability for life. Payments to my IVA stopped as my income reduced to £850 per month ( Army Pension and Industrial Injuries Disability Allowance ).
There being no employment light at the end of the tunnel my only option was Bankruptcy which i petitioned for on the 2 June 09 being made BR on the 26th delay was caused by the Grant Thornton / Wilson Phillips saga. I had my OR's telephone interview this morning and it went well. No IPA or IPO,i have been allowed to keep my car and they were not interested in my Army Pension or my benefit.
My I and E for BR was as follows which they accepted the only thing was my life insurance which i have had for some time. I have to pay the OR £50.00 to retain it.
Income
Pension £735.00
Benefit £122.00
Expenditure
Rent £347.00
Housekeeping including food and cleaning £180.00
Gas/Elec £40.00
Water £8.00
Telephone mobile £25.00
Travel to see my son £50.00
Clothing £35.00
Contact Lenses £28.00
Union Subs £11.00
Car Ins £18.00
Holiday £25.00
Haircuts £11.00
Car Tax £12.00
Car Repairs/Mot etc £25.00
Life insurance £32.00
I should point out that im now single living as a lodger in a family home.
So guys, as i said we are all different but if this is of some help or i can can be, then it reinforces the value of such forums, there is light at the end of the tunnel and mine has just got a whole lot brighter. Take care, good luck, and keep posting LOL.
Excellent post Kens. Glad that things have finally worked out for you.
Should be very usefull for any posters thinking of going bankrupt, especially those struggling with their IVA's.
Good luck, keep posting, your experience will be invaluable for new posters.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
