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JimmyPennywise
Starting Member
United Kingdom
21 Posts |
 Posted - 10 February 2011 : 14:02:08
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All,
Here is a question I have seeing being asked quite a lot. Perhaps someone can give the definitive answer!
Will the 12 month discharge change back to the 3 year rule? If so do you think current bankrupts serving under the 12 month rule see their discharge extended, in other words retrospectively?
Regards,
Jimmy |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 10 February 2011 : 14:22:38
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no one can give definitive answer until Govt pass out white paper or briefing notes.
everything is up for continuos review
My Opinion will be like the change in the rules for IPA those signed and agreed NO change. those new to the sysytem will have to abide by the new rules.
The official receiver I doubt would have the staff to review all of the old files as well as look at new applicants.
I do feel that their will be a push to get more people into low payment IPA, i think that this could create a logistical nightmare for the OR as individuals should be sending in regular change in I & E. fuel price or interest rate rise goes up again your costs to live may increase thus your I & E should be re evaluated.
I have also read of an option for a BR fast track 3 - 6 months in and out, No IPA. yes we all want one of those ! that is also part of continuos review.
can only deal with now but if a change does come on board, someone will post on here.
Richard |
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glafy
forum expert
436 Posts |
Posted - 10 February 2011 : 14:30:29
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I would hope that us Brs who are already 'in the system' wouldn't be affected by such a change. I would hope that as we went BR under one form of legislation it could not be altered once committed too.
But there again......!!
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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JimmyPennywise
Starting Member
United Kingdom
21 Posts |
Posted - 10 February 2011 : 14:40:14
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Hi Richard,
Thanks for the response.
I am due to be discharged on 1 August this year. Is there an actual proposal for 3 years or is this hear-say? Do you think people like me will scrape by?
quote:
Originally posted by Richard P
no one can give definitive answer until Govt pass out white paper or briefing notes.
everything is up for continuos review
My Opinion will be like the change in the rules for IPA those signed and agreed NO change. those new to the sysytem will have to abide by the new rules.
The official receiver I doubt would have the staff to review all of the old files as well as look at new applicants.
I do feel that their will be a push to get more people into low payment IPA, i think that this could create a logistical nightmare for the OR as individuals should be sending in regular change in I & E. fuel price or interest rate rise goes up again your costs to live may increase thus your I & E should be re evaluated.
I have also read of an option for a BR fast track 3 - 6 months in and out, No IPA. yes we all want one of those ! that is also part of continuos review.
can only deal with now but if a change does come on board, someone will post on here.
Richard
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 10 February 2011 : 15:36:59
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keep low profile and start planning your future.
the next 6 months will fly by
lots of hearsay
Richard |
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glafy
forum expert
436 Posts |
Posted - 10 February 2011 : 16:27:28
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There do seem to be rumours like this flying around at different times.
Lets us hope that this is the case.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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debtinfo
forum expert
2826 Posts |
Posted - 10 February 2011 : 18:25:44
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there are no consultation papers or recomendations to change the discharge period.
If a new law did change it this would only apply for new bankrupts as it would be a change inlaw.
the change to IPA's was only a guideline by the IS not a change in law and so could be applied to everyone withot a current IPA |
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JimmyPennywise
Starting Member
United Kingdom
21 Posts |
Posted - 10 February 2011 : 18:35:13
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Hi all,
Just a thank you to all who have responded, this forum is really becoming a life-line to me. Thanks to the experts and moderators for their time and fast replies!
Jimmy
quote:
Originally posted by debtinfo
there are no consultation papers or recomendations to change the discharge period.
If a new law did change it this would only apply for new bankrupts as it would be a change inlaw.
the change to IPA's was only a guideline by the IS not a change in law and so could be applied to everyone withot a current IPA
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Early Discharge
