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

Moderators: TalbotWoods, JaneClack

By homely
#4958 when we go and see the OR i assume we would see him seperately would he make his judgement on how much money we do not need after our outgoings for example £350 between us then will he apply for an ipa and take the money from one of us
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By JaneClack
#4961 You will both have appointments with him after you have presented the petition and he will go through the budgets with you - it depends on how much you each earn and what your outgoings are. This is not something we can do for you here - you need to fill in the forms each and then the budget will be gone through. It would make sense to dovetail obviously. Then he will decide if either or both of you could make an income payments arrangement with him. He is more generous with his allowances than creditors would be a in a debt management plan so put down what you spend.
By homely
#4985 thanks for your help.Although i know that bankruptcy is the only solution for us it feels like a big weight has been put on my shoulders,its bad enough feeling guilty about getting to this stage and not being able to cope with debts that you incur yourself.when i found this website and was reading through all the things that other people were needing advice for i found a lot of the replies that i was worried about very helpful.i know there are certain things that you cant advise on.but just being there helps
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By JaneClack
#4987 No problem. That is what we are here for but obviously we cannot do everyone's forms for them. I wish we could but logistically it is not possible.