Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By Jackie
#4495 Well I done it 14th Feb and as everyone said it was not as bad as I expected my actually interview was over in 15 mins but had to wait 2 hours as the person after me had a few problems and they wanted to get the judge to agree to both at the same time so we just waited around
The OR called that day and made appointment to call me back the next day even that went ok only took 45 mins

Got all the forms 2 weeks later sent back what they asked for got my IPA Thursday and was very disappointed told me I had to pay £475.00 were that figure came from I have no idea they had based it on my last 6 months wage slips which had load of OT on and double time for bank hols trying to keep my head above water
So after that shock as it had made me no better off I was only paying £350.00 DMP I am sending this month wage slip and a letter appealing this months wages have no OT etc jsut the basic and I will be sticking to that for a while if they say I have to pay £475.00 with this moth wages I will actually be on a minus after paying essential bills GREAT start to a debt free life

Has anyone out there appealed to the OR and if so what happened
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By JaneClack
#4498 Yes, and succeeded as when there are any changes to circumstances the OR has to be informed within 21 days. So STOP the overtime now! Although the IPA runs for three years once you are discharged it is difficult to see how the OR could enforce it - there is a loophole in the law which, obviously they will change but at present that is the case. Chances are there will not be an early discharge for you but this means keeping the income at basic for a year really. Let him know that overtime has finished and your IPA will be changed. You should not be in a position where you cannot pay your priority debts and feed and clothe yourself when bankrupt because of an IPA.
By Jackie
#4499 Can you give me a guide to what I should claim for I live with my partner so I cant claim for rent as it his house and he pays the morgage but I pay half of everything else

The OR has allowed me to keep my car but only allowe £12 per mont car insurance she was give a complete list of what I pay out and this was included at £26.00

OT will have to be done on occassion to cover holidays and sickness but that is will only be few and far between
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By JaneClack
#4500 Right - you pay half of all the household bills and you need to show proof of what your car insurance is. That is what you pay.

£190 housekeeping for yourself, £25 - £30 for clothes, do you need the occasional prescription, go to the dentist to have your teeth checked etc? That costs. Is your partner worried you might want to claim some beneficial interest in the property as you could pay him a little in rent to help him with mortgage costs - where else could you live as cheaply? What about some emergency money? I take it there are no children.

Basically you put down what you have to pay out - the OR is usually more generous than a DMP would be as the common financial statement is what is accepted by creditors.

Good luck - what about the budget sheet you did for your DMP - what has changed?
By Jackie
#4501 I copied the budget sheet from my DMP onto a spread sheet fo the OR thinking this would make things a little easy for them !!!

I have just had a dental appointment should I enclose the reciept also we have just been informed the job I do will require me to have a lience as of April costing £190 every 2 years can I claim that if I don't have the lience I can not work
I said I didn't pay anthing to the morgage as I was scared they would have a interest in the house was I wrong in doing this
Here me thinking life would get less stressful and after going B this lettter hasgot stressed again I was regreting going B last week
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By JaneClack
#4502 Don't get stressed. Just get it resolved which you can do.

Obviously you need to put money aside for the job licence - explain that and the fact you have dental care - not only this receipt but future ones - you need to look after your teeth. Your partner is NOT reponsible for your debts and may have problems of his own so unless there is a large amount of equity in the house and you have been paying him in the past you have no beneficial interest for these purposes. He probably put down a deposit - did he live there before you?

Anyway - why did the OR not accept the DMCs budget sheet?
By Jackie
#4504 I don't know I even enclosed my last 6 month statement from my DMP
I'm just putting it down to the OT I have been doing so the looked at my wages and calcualted it all from that
I will fight this but just didn't expect it I even sort advise from a large accountancy company before going B and they also said I probaly would pay around £2 -300

Hopefully showing this month wages at the lowest will help don't mind sending in wage slips every month if they want
So I will resubmitt my montly out going as they have plus what I feel should be on there dentist etc and all the proof I have of hat I pay
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By JaneClack
#4505 Good.

Please let us know how you get on!
By Jackie
#4507 Just on more thought I pay my car insurance via DD but up to date will this cause a problem with the OR
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By JaneClack
#4508 I have never known it be a problem before.
By Jackie
#4509 Just checking as nothing seem be be on my side at the moment :|
By Jackie
#4661 Had a phone call today from the OR and a very nice one at that she is waiting until next month when I will send her my wage slip and she is going to a hopefully if I agree arrange the IPA also I was informed today that as soon as that is up and running she wants to put me forward for early discharge
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By JaneClack
#4663 That is good to know - things can change almost overnight.

Let us know the outcome but it looks to me as if they think it is OK and the IPA will be much smaller!! :lol:
By Jackie
#5781 Just had a call from the OR and thing are looking good I forgot to put rent down

She just wants my OH to confirm I pay rent and my IPA will be set at around £257 and as soon as that is agreed I will be put forward for early discharge

Great news :lol:
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By JaneClack
#5786 :lol:

Yes it is!! Shows how important it is not to panic and just get on with sorting it out - which you have done.

Fantastic.