Bankruptcy Living Expenses Guide

Bankruptcy Living Expenses Guide

As part of your application to go Bankrupt you will need to complete a living expenses budget.

There is no absolute set of living expenditure figures that are acceptable. Each individual situation is different. However if you include expenditure budgets which are unreasonably high these will be questioned by the official receiver and you may be made to reduce them.

Get a copy of our Bankruptcy Living Expenses Guide

To get an accurate view of which types of expenses you should include in your living expenses budget and the amounts you should be spending on each you should get a copy of our bankruptcy living expenses guide.

The guide is free and lists all of the different types of expenditures you should consider when completing your monthly budget. It also gives hints and tips about the budgets which you will have to stay within to ensure that they are acceptable to your creditors.

The guide is free

To get a copy click the “Download Living Expenses Guide” button at the top right of this page (or at the bottom if you are using your mobile).

How to use the Living Expenses Guide?

The guide must be used for guidance purposes only. There is no “one fits all” living expenditure list. The amounts you include against each of your expenditure items must be reasonable in the context of your particular circumstances.

IVAI Tip: If there are legitimate reasons why you spend more than the amounts suggested you should use your own figures. It is important that the amounts you include are sufficient for your needs. However remember that the Official Receiver (OR) will review your budget carefully. You may be asked to justify any unusual figures and revise them if the OR feels they are too high.

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