www.iva.co.uk

Hi,

I wonder if someone could look over this and let me know if this sounds reasonable for a single adult:-

Rent £265
Council Tax £50
Electricity £40
Gas £30
Water £30
Phone £50 (Virgin)
TV Licence £15
Home Insurance £12
Groceries £150
Clothing £20
Hairdressing £10
Domestic Break £30
Birthdays/Christmas £20

I do have a car, but I havent included the running costs as I am assuming the OR would take this as it is not essential for work, although it is old and is hardly worth anything.

Thanks very much

Keith

If you look at Skippys blog, she has a list of expenses allowed in bankruptcy.

The OR will tell you if what you are claiming is too much.

He/She might let you keep your car, so I would include some costs for that as well.

include everyting you can think of,if its not allowed so be it,deffinatly add your car costs.they wont allow birthday or christmas although you can have a monthly contingancy fund.

also do you have a pet,do you buy food at work?

I would include the running costs of the car as the OR can only say no.

Include everything you reasonably can, but don't take the pee as it might prompt them to take a closer look at something that might otherwise go through on the nod.

Things NOT to claim for would be such as booze or gambling (just a few quid on the lottery, honest), nights out, etc.

Unfortunately all OR offices are different and don't seem to follow the exact same rules, or, more likely, interpret the same rules differently.

The good news is that the allowances are less draconian than in an IVA and you will still have some disposable income left, so even if the OR decides to disallow car running you may still be able to afford it from the remainder.

Best Regards

PS Good point about the pets. Its amazing how many new bankrupts now have cats.

Actually, the OR will allow domestic breaks and Christmas expenditure!

Thats good news Melanie, I had heard that in London they have been known to allow full on holidays, but I didn't want to get anyones hopes up too much. . .

I think that you have to be reasonable - a smaller amount is more likely to be passed than a larger one.