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Topic starter
31/01/2012 10:00 am
Hi all
The ship has already sailed for me (and most of the people on this forum), but it may be helpful for other people reading this to know what creditors will accept as genuine expenses.
Below are some;
Mortgage / Rent
Council Tax
Gas / Electric
Car Payments (if required for work)
Home / Contents Insurance
Car Insurance
Health Insurance
Life Insurance
Food
Work Meals
Fuel Costs
Car Tax
Car Maintenance
Home Repairs
Pet Costs
Hair Cuts
Clothes
MedicalExpenses (hayfever tablets etc)
Contact Lenses
Any other additions to the list are welcome.
One question I have is cigarettes? Can an allowance be made for this? In one of my early interviews with my IP I was told that an allowance could not be made for this. As a smoker I spend a lot on these terrible things, and to quit would need to spend as much on patches. However, a friend of mine has recently been made bankrupt and was allowed an allowance for this. In saying that he was also allowed an allowance for Holidays! (surely its not only me who thinks that one is bizarre!)
31/01/2012 12:08 pm
A lot depends on creditors and what they are willing to accept. Most are comfortable with a modest budget for cigarettes, but I think even a moderate smoker may have to cut down in order to stay within acceptable limits.
Sports/hobbies/entertainment is another category in a similar mould - ie most creditors happy to allow a small amount
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Topic starter
31/01/2012 12:21 pm
Thanks for the reply Kevin. As I said the boat has sailed for me, but it is good for people starting out their PTD's to know these things.
31/01/2012 1:51 pm
There's some more about how all of this works on the following page:
http://www.trust-deed.co.uk/trustdeedexpenditureguidelines.php
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