| T O P I C R E V I E W |
| sarah.m |
Posted - 06 August 2008 : 18:36:36
sorry for the questions but im very confused. i have looked into bankruptcy and think it be the best for me.im scared for the court bit but the or interview, can anyone tell what happens and how long it last.
please help me |
| 15 L A T E S T R E P L I E S (Newest First) |
| johns |
Posted - 11 August 2008 : 23:04:38
quote:
Originally posted by sarah.m
sorry for the questions but im very confused. i have looked into bankruptcy and think it be the best for me.im scared for the court bit but the or interview, can anyone tell what happens and how long it last.
please help me
go forward shame about hubby but you will get through it and enjoy your debt free life mine lasted 1 hour and if you need any help with forms let me know
Regards
John
john |
| sarah.m |
Posted - 11 August 2008 : 22:58:52
thanks john, i hope my day goes smooth, i really want this chapter of my life to be over. |
| johns |
Posted - 11 August 2008 : 22:56:10
quote:
Originally posted by sarah.m
Got a quick question after some more posts people are saying that the OR wants statements from banks, i dont have these as i shread them, but i have info for loan and mortgage.
will this be ok
The or will get them if they need them and please do not worry they will go about their business and compile their information if they require good luck
John |
| sarah.m |
Posted - 11 August 2008 : 22:49:15
Got a quick question after some more posts people are saying that the OR wants statements from banks, i dont have these as i shread them, but i have info for loan and mortgage.
will this be ok |
| rollercoaster |
Posted - 11 August 2008 : 09:31:10
When you move inform the OR immediately, including the new address and they will give you a new I/E |
| sarah.m |
Posted - 10 August 2008 : 20:06:20
will the or send out the forms to my new address, im starting to panic now, as i know the husband and family will make it very difficult form me when i go bankrupt this is another reason why i will be moving, i feel that i cant stay in the house when i go bankrupt. |
| rollercoaster |
Posted - 10 August 2008 : 11:02:35
When you move you need to do a new income and expenditure. |
| sarah.m |
Posted - 08 August 2008 : 21:25:11
sorry just read it again and i understand now, how stupid am i |
| sarah.m |
Posted - 08 August 2008 : 21:23:32
thanks for reply but it is confusing me i will have surplus about £130 how much will the OR take off me, also when i move and change jobs i will be getting paid less but be paying less out will this effect the amount i pay. |
| Trolly-Dolly |
Posted - 08 August 2008 : 20:52:36
IPA Payment Table
June 14th, 2007 by skippy13
This is a table of IPA percentages that you can expect to pay on any surplus income:
1st Column=SURPLUS INCOME
2nd Column=AMOUNT TO BE PAID
3rd Column=% OF DISPOSABLE INCOME
50 Nil
60 Nil
70 Nil
80 Nil
90 Nil
100 50 50
110 55 50
120 60 50
130 65 50
140 70 50
150 75 50
160 80 50
170 85 50
180 90 50
190 95 50
200 100 50
210 105 50
220 110 50
230 115 50
240 120 50
250 150 60
260 156 60
270 162 60
280 168 60
290 174 60
300 180 60
310 186 60
320 192 60
330 198 60
340 204 60
350 231 66
360 238 66
370 244 66
380 251 66
390 257 66
400 264 66
410 271 66
420 277 66
430 284 66
440 290 66
450 297 66
460 304 66
470 310 66
480 317 66
490 323 66
500 350 70
510 357 70
520 364 70
530 371 70
540 378 70
550 385 70
560 392 70
570 399 70
580 406 70
590 413 70
600 420 70
Taken from Skippys blog.
Have a read of it, its really helpful
http://skippy13.blogs.iva.co.uk/
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| sarah.m |
Posted - 08 August 2008 : 18:47:54
i may have this before but how soon after going bankrupt will i be able to move cos i dont know how much longer i can stay in the house cos of his family and will i need to find a job in scarborough before i get there, if so then this could be tricky because i dont drive and would not be able to attend any interviews#
please can you advise |
| John |
Posted - 08 August 2008 : 08:01:19
Hi
if you're giving up the property any shortfall will be included in your BR, the lenders will not be able to pursue you for any payment after BR.
IPA's are often set up by a DD in favour of the OR.
Not everyone gets an IPA.
The OR will look at your net income figure.
Then consider your list of expenditures, he may accept the figures or trim them if he feels they are in any way excessive. Having done this he will look at the difference between income and expenditure (disposable income).
If you have a minimum £100 per month DI then you will get an IPA. An IPA starts at 50% of DI, i.e. if you had £100 DI the OR would take £50.
There is a sliding scale from 50% to 70% whereby larger percentages are taken if the DI figure is higher, e.g. if your DI is £500 per month the OR would take £350 (70%).
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| sarah.m |
Posted - 08 August 2008 : 06:52:41
Morning all im back again. Can anyone tell how the OR works out how much you have to pay in the ipa and do you always get one of these. As you know once i have been made bankrupt i have to move and find another job will this effect the bankruptcy, i know i may have asked this question before but i need to be sure before i file the papers
many thanks |
| sarah.m |
Posted - 07 August 2008 : 21:56:06
thanks everyone for all your advice i will filling in forms soon and phoning the court for a appointment, hopefully it will all be over soon.
this site has been a big big help and i know where to come if i have any more questions
i have one more question can the mortgage and loan company try and take money from me and how will the OR take off me when i get a job when i move |
| Needafriend |
Posted - 07 August 2008 : 10:29:53
Hi Sarah,
I thought i would add a bit to this and just to give you my take on it.
Dont lose sleep over him, he is a grown man and can make his own choices. If he wants to stay as is then well when you have gone BR you start your new debt free life he may well then realise when the letters come for him to cough up fors yours and his debts that he has lost out on something good.
I went BR on monday this week and to be honest like you i was well nervous the folks on here helped me loads and i also used the online site to fill in my forms and when i has any questions about the form i asked on here, and hey presto you get the advice you need.
I dont know if you know the site but its less stressfull than writing them out its the following if you want it
http://www.insolvency.gov.uk/index.htm
You take care and dont be scared, i know its easy for me to say but take it in your stride and keep posting!
LOL
Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
