| T O P I C R E V I E W |
| Lisa.07 |
Posted - 26 March 2011 : 17:29:04
hello there, need some help. my dad went bankrupt a month ago. he was in a iva paying 260 a month. he and his wife was stressed and struggling. so decided to go bankrupt. my dad works and his wife is on incapcity. they were told to do separate bankruptcy as most of the debt was in my dads wifes name. they have just been told that they have to pay 290 per month and have a nil tax code. so they are paying more than they were before. they paid 1200 to go bankrupt but are still in the same situation. is there anything they can do. thank you |
| 6 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 31 March 2011 : 07:09:32
here is the OR's guidance
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/part4/part_4.htm
what did they take off? |
| Lisa.07 |
Posted - 30 March 2011 : 21:28:49
thank you for answering. what sort of expenditure can they put down, the cab told them to do another expenditure sheet and send it to them. the of took off £200 on there last expenditure sheet. 
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| debtinfo |
Posted - 30 March 2011 : 21:21:46
You need to show what expenditure has not been taken into account, they cannot simply say that they cannot afford it. Start by asking for a copy of the calculation of the IPA |
| Lisa.07 |
Posted - 30 March 2011 : 20:10:56
thank you for answering they were that they shouldnt be in a iva as things like that are for people who dont want to lose there cars or houses, for people like docs and professional people. they have spoken to cab and lots of debt advice people but seems like no one can help. thay have no car, they never go on hols, thay never go to the dentist or opticians, they seem to really struggle. not sure if they spoke to insolvency practioner. they keep trying to the or to hae a meeting so they can get things explained but the offices they call wont let them talk to the or, they wont let them have a meeting either. surely they have some rights.
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| Niobe |
Posted - 26 March 2011 : 18:44:40
The nil tax code is only for the tax year and I'm surprised they got one so close to the end of this tax year.
You will need to pay the tax across to the OR.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
| Viki.W |
Posted - 26 March 2011 : 18:13:34
Hi Lisa,
Did your Dad and his wife take advice from their insolvency practitioner because this really should have been explained to them before bankruptcy.
An Income Payment Agreement will be set up in bankruptcy if they have any surplus. It sounds like their income and expenditure didn't change from being in the IVA in which case they still have that surplus so will need to pay it unfortunately.
Did their circumstances change or did they just think that bankruptcy might be a bit easier than the IVA?
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/ |
