Author Topic: bankruptcy and partner  (Read 1195 times)

Jayne

  • *
  • Posts: 3
bankruptcy and partner
« on: Jun 21, 2011, 07:08:52 PM »
Hi,


I am in the early discussions with the official receiver whom on a quick check have advised I may have to repay an IPA of £211 per month.  I find this impossible as I struggle to find £100 after bills, food, rent and travel to work.  I am a 31 year old single mum of a 7 year old with an income including benefits of £23012.  I pay fuel of £140 monthly as i live rural and travel 55 miles 4 days and 40 over a weekend. I pay rent and the usual bills and food, what will happen if i can't make payments as i really will be giving up food? are there places I can get food? (bankruptcy caused by ex vacated joint property and not agreeing to get me off the mortgage despite me trying, I have tried to sell but no joy and can't afford mortgage so I have handed it over in severe negative equity).


On another note my current partner who is unemployed since leaving college has become homeless and sleeps on his mum's couch, we are looking at him living with me but obvioulsy I can't afford him, we have been told he will loose his benefit.  He is seeking an apprenticeship which has has interviews coming up (fingers crosses), this will mean if successful he would stand a chance of living with me but his income will be £100 a week.  What benefits may we be entitled to and how much of his and these benefits will the Official Receiver take into consideration.  The  overwhelming stress of this is making me consider reducing my hours and I am unsure of how this will affect matters?


Thanks

Jayne

  • *
  • Posts: 3
Re: bankruptcy and partner
« Reply #1 on: Jun 22, 2011, 04:39:43 PM »
Does anyone have any advice as I am living a nightmare and feel completely at a loss at what the hell to do for the best? I have asked for advice all over and get nothing, this is my last chance PLEASE?


James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: bankruptcy and partner
« Reply #2 on: Jun 23, 2011, 11:34:02 AM »
Hi there Jayne
 
Sorry to hear about your situation. In terms of whether or not the income payment your OR is suggesting is fair or not, you really need to compare your living expenses budget to the levels which are generally accepted by creditors. There is a living bankruptcy expenses guide on [** sorry, no personal contact invitations allowed **] in the bankruptcy section which is based on these levels. I suggest you compare your budget to this to see if there are any areas where you are over. If there are, these could be the areas that the OR has identified where you are spending too much. You can then discuss these with the OR
 
If your partner comes to live with you then this would be a change in personal circumstances which you would need to speak to the OR about. They would take into account the increased household income but also the increased expenditures. However, his income can not be used by the OR to pay your debts so there should be no increase to any payment you may have to make.
Debt Expert & Author
beatmydebt.com

Jayne

  • *
  • Posts: 3
Re: bankruptcy and partner
« Reply #3 on: Jun 23, 2011, 06:51:16 PM »
Hi,


That's great thank you for the advice.  I have checked the list and there are a few things missing which I wasn't aware of.  my expenditure is basic living no frills.  Can I ask is this the list the ORs refer to?


Thanks


Jayne

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: bankruptcy and partner
« Reply #4 on: Jun 28, 2011, 06:07:44 PM »
Hi Jayne
 
ORs will not necessarily refer to this exact list, however, they will work to very similar figures. However, if you have omitted to include any living expenses items, the OR will generally not point these out to you. They will take it as read that the expenditures you gave in your bankruptcy statement of affairs are correct. This is why it is so important to get these right at the begining if you can. If you feel that there are legitimate items that you have missed out, then you should speak to the OR and explain that you have made a mistake. However, you are not automatically entitled to everything on the list. The OR will consider everything in the context of your circumstances and then come to their decision.
 
Good luck with your negotiations. Please let us know how you get on.
Debt Expert & Author
beatmydebt.com