- Sat Oct 18, 2014 5:30 pm
Hi and Welcome
Please please do not feel you are a failure, if fact you are the complete opposite. A total failure would bury their head in the sand and let all hell break loose; you have done the opposite, you have taken complete control, you have dealt with this that now means you are debt free. So don't feel like a total failure, stand tall knowing that you have looked at the devil (OK out of control debts) eye, and YOU had kicked him right where it hurts, and excuse the pun, but that take footballs, and that ain't the sign of a failure!
OK moving on a bit.
Not Tax IPA, will come into play when and if HMRC reduce your tax code to NT, happens for a lot of people, doesn't happen for a lot. This aspect is something for the OR to chase not you.
When it does happen let the OR know, DO NO SPEND IT, as you will need to pay it to the OR.
The bank statements. If you have them yes let the OR have them, if not cheekily tell the OR the bank wont release duplicates as the account is frozen! Believe me it is often easier for the OR to get them than you.
Don't worry about them having them, it will help them to try and work out why you became insolvent, EVERYONE is asked for them, also credit card statements, store card statements, loan agreements, ect. The more paperwork he has the easier it is for them, and the quicker they can conclude your case.
Yes he will want to see the payslips, remember you told him your income was £xxx a month, he needs to see the proof of that.
Don't worry if there is an abundance of overtime on them, just be honest as to why. It is not unknown for people to work all hours under the sun (and moon) to get the funds to pay for the bankruptcy, and keep up some payments to the debts in the meantime, and then drop back to basic hours when the deed is done. So if you have overtime, and that is going to stop, tell them, it wont raise any alarm bells, as so many people do.
As to a income IPA, that will be calculated when the OR has seen your payslips, any statement you may make about hours, and checks your expenditure. They they will say how much.
If you disagree with his calculations tell them, if you think he has been overly hard on your expenditure, challenge them. It is all part of their job, most people who think they have been overly hard done by, if they can show a reason why, then the OR can be reasonable.
A little surprised they only allowed you £1500, most ORs allow up to £2000 for cars.
As to your joint debts, the OR wont tell your ex, but the creditors will chase him for the full amount, and they may tell him. So be prepared for some sharp words. ect.
If they can track him down, that is!
Once the IPAs are agreed, then that is it, you may be contact by the OR again, most are not, you may get the odd letter from them, many don't, many hope the OR will write them a letter saying they are discharged at the end of the year, Hmmmm No one gets a letter. Pretty much this is the exciting part, when things happen, to be honest for most people the rest is a well, Hmmm, errrr a total let down of nothingness.
And don't worry as the weeks move on you will actually find you have a lot more 'little' questions, please feel free to ask away
Oh by the way, congratulations on being debt free, probably one of the best decisions you will have ever made, but it just quite feel like that yet!