| T O P I C R E V I E W |
| carl |
Posted - 22 December 2010 : 13:40:22
Hello all
I’ve been reading all the post regarding the new IPA rules. Does anyone know if the OR can disallow a monthly expenditure when they review my income/expenditure that was previously allowed under the old rules (pre December 2010) which may be the difference in receiving an IPA under the new rules?
Following my interview I was never actually told what my DI was and which of my monthly expenditures they allowed and disallowed. I was not subject to an IPA/IPO but I do pay my Tax to MoonBeaver until March 2011.
Do the new rules allow the OR to disallow things that they previously allowed? I remember a few months ago that there was a list of monthly allowances that were used when calculating any DI. Does anyone know if this list has been updated? and if so where is it to look at?
Thank you
Carl
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| 15 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 07 March 2011 : 18:49:56
although not been tested, so as i say interesing to see what happens |
| Viki.W |
Posted - 07 March 2011 : 18:30:25
I stand corrected. Thanks for clearing that up Debtinfo
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| debtinfo |
Posted - 07 March 2011 : 17:50:46
Hmmm this is interesting, technicaly a NT IPA is just an IPA, doesent really matter that it is being used to collect the surplus from having no tax,(an IPA is an IPA is an IPA) therefore i would say that you are in an IPA that was signed before the new guidelines and so the assesment now should still be on the old guidelines.
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| Viki.W |
Posted - 07 March 2011 : 15:25:42
If you didn't actually sign an IPA, then you are under the new rules.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| moodybluetwo |
Posted - 07 March 2011 : 15:13:56
So was I assessed on my phone interview day? If so then I the old rules will apply . |
| Viki.W |
Posted - 07 March 2011 : 14:53:33
Hi Hugo, No that doesn't count, you didn't sign an IPA, so when assessed, you will be under the new rules.
Moodybluetwo, Unless your circumstances change and you need to contact them, you will only get a new I&E to complete prior to AD or ED.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| moodybluetwo |
Posted - 07 March 2011 : 14:07:19
When I spoke to the OR for my phone interview in August she said on my present income I would not have an IPA..was that my “initial assessment “ ? I have heard nothing since. |
| Hugo |
Posted - 07 March 2011 : 12:39:40
Umm
Thanks
I signed a nil tax IPA!
Does that count?
Regards
Hugo |
| Viki.W |
Posted - 07 March 2011 : 12:18:23
If you signed an IPA before 1st December 2010 then you are under the old "rules". If you have never signed an IPA and have your income and expenditure assessed now, (regardless of when you went BR), and you have a surplus over £20, then you will get an IPA under the new rules.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| Hugo |
Posted - 07 March 2011 : 12:17:15
Thanks for the replys
Seems a bit of a grey area!
Still wondering if I would be captured by the new threshold!
regards
Hugo |
| xmas baby |
Posted - 07 March 2011 : 11:43:57
Hi there,
I was under the impression the new rules regarding IPA's and expenditure only applied to those new bankrupts and that 'older' bankrupts with IPA's were still governed by the old rules, regardless of any revised I&E. Can anyone tell me if this is correct?
Thanks
xmas baby |
| moodybluetwo |
Posted - 07 March 2011 : 10:14:19
I think it depends on how this chapter is interpreted.....
31.7.27 Calculation of contribution to be claimed under a new IPA/IPO assessed on or after 1 December 2010
Following an assessment of the real disposable income (the income remaining after all expenditure necessary to finance the reasonable domestic needs of the bankrupt and his/her family has been taken into account, see paragraph 31.7.23), where the initial assessment is made on or after 1 December 2010 (regardless of the date of the bankruptcy order) and the bankrupt has surplus income of £20 or more, the full amount of this surplus income should be sought by way of monthly payments under an IPA (or an IPO if an IPA cannot be agreed). As the official receiver is seeking to recover the full amount of the surplus income, it is essential to ensure that each individual’s circumstances are carefully examined and all available information has been taken into account with regard to the individual's income and expenditure. Reference should be made to the guidance figures available in the HES which provides average expenditure figures for various household combinations and also Part 3 regarding income to be considered and Part 4 regarding expenditure to be considered
The key phrase is “initial assessment “......I have asked this question before but no one has answered it so far. |
| Hugo |
Posted - 07 March 2011 : 09:38:52
Hi
I have a similar question.
Went BR on 01.07.10 with disposable income about £75 - so no IPA given.
Paying tax to MB.
My question is -
If given early discharge/discharged and I fill out I&E will an IPA be sought(my I&E remain stable) under the new guidelines for disposable income?
Or will the original guidelines still apply!
Regards
Hugo |
| debtinfo |
Posted - 22 December 2010 : 20:33:13
The OR will simply look at what your circumstances are now and set allowances accordingly, these may be more, less or the same as they allowed previously. The only thing that matters is that they are appropriate to you curent circumstances |
| Bigal4787 |
Posted - 22 December 2010 : 14:43:09
Hi carl,
the following link is an extract from the technical manual that the OR/examiner uses to assess real disposable income. It's fairly lengthy, but paragraph 31.7.19 goes into detail about what are allowed as expenses:
http://insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/part2/part_2.htm
If you don't understand anything just ask me!
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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