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| cantcope |
Posted - 01 November 2010 : 21:08:59
Hi new to this forum and have a few q's.
!.does the OR monitor your accounts ie spending ,when your made bankrupt
2.what happens to bank accounts (cash account)
3 what happens if he thinks your income and expenditure is too high
4.Is it ok to base the I&E on the guidelines set out by the insolvancy service.
5.i can find any credit card statement as the debt occured well over 8 yrs ago and has been with a dmp for 6 yrs,so ive had no statements!
6 How many bank statements will the OR want
Hope someone can help me
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| 1 L A T E S T R E P L I E S (Newest First) |
| Bigal4787 |
Posted - 02 November 2010 : 00:56:45
Hi cantcope,
welcome to the forum, you should be able to find some answers here!
In answer to your questions:
1. The OR doesn't monitor your spending once bankrupt.
2. If your current accounts(I take it that's what you mean) are overdrawn then they will be closed by the OR, if your current account is in credit, then the OR will write to the bank, and advise that the account should stay open to receive your income etc, but that ultimately it will be up to the bank whether the account stays open(Halifax and HSBC will generally close accounts, even if in credit). If you need a basic account the Co-op have a bankrupt friendly account called cashminder.
3. If the OR thinks your I&E is too high, he/she( the examiner) will ask to see some sort of proof, i.e. actual bills etc, if not they will go by the guidelines. They won't say for instance that you can't claim for the full Sky package, you could still have the full Sky package, but it would have to comeoutof any surplus you may have after an IPA has been assessed.
4. I used to use the household expenditure survey(as do most examiners) as a guideline when assessing I&E.
5. if you don't have any statements for liabilities that far back, then I wouldn't worry too much if you don't have them, as OR's generally aren't too bothered about liabilities over 3 years old, as they have become stale.
6. If the OR wrote to your bank they would only ask for the most current statement, and the balance at the date of the order, however if you can supply at least 3 months of statements then it would help, or 12 months, as it would also be useful to show your I&E.
Big Al |
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