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| madeve |
Posted - 31 May 2009 : 12:39:22
Hi,
Could somebody help me with filling in the statement of affairs online please...
Our circumstances our - I am the sole earner in our family and so bring in the only source of income. I pay all household bills and support myself, my partner and 2 children.
My partner and me are both petittioning.
My question is, on my forms should I put my expenditure as the whole families and on my partners form put no expenditure as this is all paid by me?
Or should he put his own personal expenditure down, even though I pay it?
Also, I am currently on maternity leave and will not return to work until January 2010. Shuold I put my average take home pay as what I'm getting while on mat leave or what I usually get while working full time?
Hope this makes sence, thanks |
| 3 L A T E S T R E P L I E S (Newest First) |
| gettingoutofdebt |
Posted - 31 May 2009 : 14:54:41
Hi,
Once you have been declared BR you will have a telephone interview with the OR. Depending upon how busy the OR is this can be anywhere from 1 week to 2 months after you are declared BR. You and your partner will have separate interviews but they are normally arranged so that one follows immediately after the other. The interview allows the OR to go through the SOA with you and confirm the creditors and the amount you pay. They will try to understand how you became bankrupt and will also go through the I&E and let you know if you are liable to an IPA.
The OR will inform HMRC to issue you with a NT tax code, which means that you won't pay any income tax until for this financial year. Your firm will stop removing tax at source and the amount you would have paid in tax will be paid into your bank account. You will need to pay this to the OR and they will use it to pay your creditors. Your salary/tax credits will still be paid by the people who pay them to you now.
If you get any extra money (i.e. the bonuses) you will need to let the OR know and they may or may not take this money. Some OR's have been known to let people keep the extra money as it is a one-off but others take the money.
After the OR's interview you shouldn't hear from them again unless they have any further questions regarding your case so it is a case of no news is good news.
Is your partner suing due to personal injury? If so, the OR cannot take any of this money so they will be able to keep it all. |
| madeve |
Posted - 31 May 2009 : 14:08:08
Thanks for your reply, that makes it clearer.
Once the forms are submitted, we have seen the judge and met with the OR and our bank account is frozen, what actually happens then?
I am pretty sure that we will not have an IPA as we have no disposable income, (either now or when I go back to full time work)so what actually happens during the 12 months until we are discharged? Will our salary and tax credits etc be controlled by or paid the the OR, or will we still have control of it?
Also if you get any 'extra' money during the 12 months what happens to this, e.g in December I should get a work bonus to the sum of £500 and a further £500 in April?
Also my partner is currently tsking legal action following a motor accident, will any compensation from this go o the OR?
Thanks
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| gettingoutofdebt |
Posted - 31 May 2009 : 13:41:46
Hi,
On your form put the whole family's expenditure as well as the amount of money you take home at the moment i.e. the maternity pay. Put your partner's contribution to the bills as zero.
On your partner's form put your partner's income as zero and your contribution as the amount you give to your partner for them to spend on whatever outgoings they have. Then just list the amounts/outgoings that your partner has.
Don't worry about making mistakes on the I&E you put on the forms as the OR will go through the figures when you have the interview. When you return to work in Jan 2010 you will have to inform the OR and complete a new I&E based on your wage then.
Let us know if you have any other questions about the forms and someone on the board will answer you. |
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