| T O P I C R E V I E W |
| Angie |
Posted - 14 March 2009 : 18:38:44
Hello
Just 2 quick questions:
1. Through careful budgting eating cheap food I am able to have £45-£50 in credit each month from my job seekers of £242.00 per month. Am I likely to have an IVA set up by the courts for the £45.00-£50.00 which will be classed as spare income for the 3 creditors?.
2. I was able to pay First Direct and Barclaycard payments each month when I was working but fell behind with Nat West for nearly a year since they never contacted me to discuss a payment plan despite letters to them whereas Barclaycard and First Direct which was all I could afford. Court today sent me a income expenses form and said I had to fill it all out even if I am unemployed which I am. I cut everything to the bearest minimum which is why I had some surplus income e.g. £45.00 per month from my jobseekers.
Are Nat West now likely to object to an early discharge due to favouritism. I then lost my job last October 08 and it all went downhill from there. It will be 6 months in May 09 since BR.
Thanks ever so. |
| 9 L A T E S T R E P L I E S (Newest First) |
| Angie |
Posted - 15 March 2009 : 23:20:13
Thank you John.
|
| John |
Posted - 15 March 2009 : 21:23:17
Hi
the process doesn't happen overnight so whilst I fully understand that you are anxious to know what will happen I would leave it be for now.
As I have already said there is no way you should get an IPA anyway.
John White
England Jackman & Spacey |
| Angie |
Posted - 15 March 2009 : 19:41:27
Hello John
Thank you ... it is very hard living on £60.50 Jobseekers per week but through eating tinned food rather than fresh I have managed to save the extra few pounds from job seekers so I can at least have a few day trips throughout this year to Brighton.
The OR has asked for a breakdown of living expenses with a view to early discharge (if creditors agree - after 6 months) but no mention has been made of any Order as yet as the letter was only posted back to them yesterday I do hope I will not have to surrender the extra £40.00 I have saved for an IVA as I will then be living on the breadline with not a penny in my pocket each month. I will be ringing the OR on Wednesday to check my letter has arrived should I mention my figures or just say nothing?
Many thanks indeed. |
| John |
Posted - 15 March 2009 : 19:29:32
Hi
if an IPA is proposed tell your examiner you wish to revise your expenditure figures.
They may not like it but don't sign an IPA.
Whatever happens if your case went to court there is no way the judge would allow the OR to apply an IPO. The examiner will know this so if one is proposed and you say no the examiner will no doubt back down.
John White
England Jackman & Spacey |
| Angie |
Posted - 15 March 2009 : 19:22:55
Hi again
Does this mean that I will now GET an IPA as I have sent the letter off to the OR there is no possibility of amending my figures now.
Should I now prepare myself for an IPA out of my Jobseekers allowance of £242 per month?
Many thanks |
| pix1 |
Posted - 15 March 2009 : 19:09:23
Angie, it is worth ensuring you use up that £45 or so as it can help you make sure of not getting an IPA. |
| Angie |
Posted - 15 March 2009 : 16:55:43
Apologies Melanie just re-read twice what you said and it all makes perfect sense now ... sorry for rambling on.
|
| Angie |
Posted - 15 March 2009 : 16:48:04
Hello Melanie
I went B in early November 2008 so it will be 6 months in May 09. The OR sent me a Income Payments Order Questionnaire on Saturday 14 March 09 which I immediately filled in and sent off the same day. (Possible early discharge after 6 months).
I do live mostly on beans and chips (a very unhealthy diet I know) so have been able to save about £50.00 surplus each month from my jobseekers allowance of £242.00 and I put my food bill down as £20-25.00 per week. I just hope the OR does not now put me on an IPO Order due to their being a surplus from my Jobseekers. It is now too late to change the figures for a higher food bill as the letter has already been posted back to them. Sorry I read your reply after I had already posted the letter to the OR but hopefully as you say as I am on state benfit it will be ok but I will just have to see what they (OR) does.
Thank you also for reassuring me about Nat West Bank I hope they dont object to a possible 6 month early discharge. Thanks ever so to you and all the other advisors for all your wonderful expertise and sound knowledge. |
| Melanie.n |
Posted - 15 March 2009 : 15:40:46
The OR cannot take benefit into account when doing the Income & expenditure calculations - so you have no worry about an IPO. (just for an aside..an IPO is only taken when there is disposible income in excess of £100 per month, then they would excpect a £50 per month IPO) So you have nothing to worry about.
There is no need to worry about Natwest, they would most definatley not object!
Have you already filed for bankruptcy? if so you do not need to complete the form from the court, just send it to the OR to deal with. If however, you have not yet filed for bankruptcy, Fill in the form and return it to the court but DO NOT leave a surplus - benefit should not be used to calculate debt repayments - up your food bill!!
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
|
