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 Hi Guys. Got my BR appointment on friday this week

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stressedoutsteve Posted - 04 May 2009 : 10:04:18
Hi Guys. Got my BR appointment on friday this week. Still a bit nervous to tell you the truth. Filled out forms on line but have acouple of (hopefully) final questions. I am self employed and have been for 20 years so my published accounts run 18 months behind. Will this be aproblem for the OR or could this hold up my BR in any way? Secondly, I have been ill for some months now and am only working two or three days aweek when I can. Our expenses come to £2500 p mth with my wife contributing about £1000. For the last few months I have only put £500 or so 'into the pot'. My questionis, when and if I recover and start working so I can pay the usual £1500 p mth, will they then try to take some of that for the creditors? how does this work with household costs circa £2500 and a partner contributionof around £1000? any advice welcomed. Thanks . Steve
4   L A T E S T    R E P L I E S    (Newest First)
stressedoutsteve Posted - 04 May 2009 : 19:09:26
Thanks again . Wish me luck. Will check back in Friday, regards, Steve
gettingoutofdebt Posted - 04 May 2009 : 18:36:46
My understanding is that if the joint contribution is £2599 (£1k from your partner and your income is £1599) and your outgoings are £2500 then you wouldn't have to pay an IPA.

stressedoutsteve Posted - 04 May 2009 : 18:20:39
thanks chester.Anyone got any ideas re the second point please? If expenses are accepted/agreed by OR at 2500 p mth and contribution from partner 1000, does this normally mean I can earn 15099 without IPA? Thanks steve
chester2005 Posted - 04 May 2009 : 10:15:02
Being Self employed and not having Payslips etc. will not delay your BR.
The OR will contact your accountant for the last years accounts that have been submitted to HMRC.
The income figure on the SOA should reflect the situation as it stands now.
If your income increase then a percentage of your disposable income DI over £99 may be used for an IPA


Dave

Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
Life's too short!!!

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