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RHB
Senior Member
1159 Posts |
 Posted - 05 January 2009 : 16:09:37
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| The point I was trying to make is that declaring bankruptcy doesn't mean you are entitled not to pay off any more of your debt IF you can afford to, hence IPAs etc. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 05 January 2009 : 16:16:35
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Oh right
We wondered thats all!
Jo
x
22 Weeks down
30 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring! |
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John
New Member
United Kingdom
73 Posts |
Posted - 05 January 2009 : 16:22:36
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Hi
I agree if you can afford to then you should do so.
My point in my previous example is HOW we get ourselves into a position to repay some of the debt.
If it's because allowances compared to my income dictate that I should then fine.
My objection is when 2 parties are in exactly the same position but one pays and the other doesn't have to.
Much the same as with certain benefits, tax credits for example.
Are we saying that as, despite the fact I may qualify, that I shouldn't claim it as I seem to manage without?
When the guy next to me, in the same position, claims their entitlement.
As I have said it is an individuals decision but I believe we should all be treated fairly, and that means the same as each other.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 05 January 2009 : 16:26:25
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I agree John
Jo
x
22 Weeks down
30 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring! |
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andy b
Junior Member
267 Posts |
Posted - 05 January 2009 : 16:35:40
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The point I was trying to clear up was not to try and wriggle out of paying an ipa but to get the forms right so I don't have to go back to the OR and ask them to modify them.
It seems a reasonable point to clear up because if your basic monthly expenditure is still more than your monthly income after your bankruptcy then it's reasonable for the OR to suggest that you're gonna end up back at square one sooner or later.
Andy |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 05 January 2009 : 16:38:40
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My housekeeping allowance is £350 for 2 of us and we manage on that so I don't see the point of increasing it if I don't spend it. I personally would rather know that I've paid something back (albeit very little) as I borrowed the money in the first place.
I'm not for one minute saying people shouldn't claim benefits that they are entitled to, but surely exaggerating your expenditure so you either don't repay anything towards your debts, or reduce the amount you pay into an IPA is wrong.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
18 IPA payments to go! |
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John
New Member
United Kingdom
73 Posts |
Posted - 05 January 2009 : 16:45:07
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Hi
for me, claiming allowances or utilising any piece of Insolvency Law is the right of us all.
After all, we should not increase our indebtedness whilst bankrupt but in certain circumstances it is permitted and therefore quite correct for any bankrupt to use the current legislation.
For example property.
Values continue to fall and yet a bankrupt is entitled to stay, even in negative equity, in a mortgaged property whilst bankrupt when that negative equity is increasing due to the present market situation. Secured borrowings are of course not included in bankruptcy but ever increasing negative equity is hardly secured is it?
And if so against what?
Rules are rules and if a bankrupt is able to meet mortgage repayments and the legislation says they can keep it then that's good enough for me even if, in reality, that bankrupt, by staying put, is effectvely increasing their debt for which there is no asset to set it against.
Guidelines are there for a reason, I just think once they are set there is nothing wrong with using them to your advantage where the opportunity arises.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Housekeeping
