- Tue Jan 11, 2005 8:50 pm
Well these are the official government guidelines for the OR when an IPO is applied for so I'm not sure how they can be ignored by the OR, but I will bow to your greater experience if that would be the case.
This is the extract.
Previous guidance stated that money for holidays should not be included in the calculation of funds available for an IPO, other than in exceptional circumstances, for example where a dependant was sick or disabled. Whilst extravagance is not endorsed in this regard, it is accepted that a bankrupt, like anyone else, may be expected to benefit from a break from routine and therefore some allowance may be made for a modest holiday. A figure of £60-80 per month is reasonable for a family of four, any extra should be funded out of the disposable income left with the bankrupt.