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| Needafriend |
Posted - 14 July 2008 : 09:50:52
Hi me again,
When we have gone bankrupt, and we are waiting to hear about the final decision about how much we should pay etc do we have to leave our extra income to one side. What im trying to find out is we have bills to pay, ie gas, elec, wr, council tax, food etc etc and wondered whilst we have that bit extra as we are not paying the creditors what do we do.
I dont want to spend it only to be told the excess if we had any is for the debts.
When in the weeks leading to their final decision are we alowed to have that to live on all of it until they tell us what we should do.
I have now 2 months arrears on the mortgage and that is because we were trying to find money for the BK hearing fee. I will need to sort out the arrears with the Mortgage company myself is that right, and do i continue paying the mortgage whilst all the paperwork via the OR is being dealt with.
We have a family holiday booked and paid for ages ago and i dont want to go if it will cause problems with the OR.
Please advise.
If the money can be ours all of it apart from mortgage payments then we have to pay the OR what they say we should pay from the date they tell us.
Do we have to show how we spent the money from BK to that date too.
Sorry for the many questions this has been bugging me all weekend.
Also we made an agreement with the CSA and IR to pay them on the 26th and 28th of the month for arrears these will go out in July then we go BK hopefully, do i still make payments to those then or leave that to the OR.
Jo |
| 3 L A T E S T R E P L I E S (Newest First) |
| melanie_giles |
Posted - 14 July 2008 : 11:43:29
CSA debts cannot be included in the bankrutpcy, so you will need to continue to pay those. The IR debt will be included so there will be no ongoing payments for them.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| Needafriend |
Posted - 14 July 2008 : 10:55:39
Hi Melanie
Yes the IR debt is because we had a change of circumstances and the old claim had been cancelled and then we ended up renewing it. They then could not add on the overpayment to the new claim and so billed us. We have made arrangements for this over 2 years to pay it back and they are aware of our pending bankruptcy as when we agreed payments I told them of the situation and they told me to contact them if i needed to.
I also will sort out the mortgage arrears once we have gone BK and get that sorted out. I just needed to check that we should not be saving already for an IPA if we have one whilst we wait to hear back from the OR. We dont have any disposable income and half of our monies come from DLA,CA, Tax Credits and Child Benefit. So hopefully it will be minimal or not at all, who knows.
So from what your saying then is that i should continue with the CSA and this wont be classed as preferential to them and also the mortgage, and the rest is ours till we know what we have to do next, the OR wont check what we have spent the money on from the BK date to the time when we know if we have a IPA etc.
JO |
| melanie_giles |
Posted - 14 July 2008 : 10:26:19
You will only have to pay into an IPA from the time you are informed about it, so if you have current mortgage arrears and wish to stay in the property post-bankruptcy then I would certainly get those repaid as a priority. You will need to carry on paying the CSA as normal, but can you explain what the IR payment is for, as this is now probably a creditor in the bankruptcy.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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