| T O P I C R E V I E W |
| godfer |
Posted - 03 July 2011 : 06:28:21
Guys,
This is gonna be a long one...sorry. I need your help, expertise and experience!
My bankruptcy came into effect in March of 2011. My affairs were dealt with swiftly by the OR and an IPA imposed in May - I have made 3 payments thus far. My questions concern the IPA after expected AD in March 2012:
Can (and indeed how would, what is the mechanism) the OR amend the IPA in the event that my circumstances change and my disposable income increases? My current 'rent', the lease for which expires in 4 months, was recorded on my income and expenditure, and agreed by the OR. If I were to find a cheaper rental, would the OR 'claim' the saving? Does AD affect the IPA in any way?
Many thanks in anticipation of your efforts and response. No doubt further questions will arise!
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| 15 L A T E S T R E P L I E S (Newest First) |
| Richard P |
Posted - 21 November 2011 : 17:21:21
Hi Godfer
good news, honesty does prevail
after 6 - 9 months of suspension it is likely that the trustees will ask for an AGM of creditors and ask to be discharged as your trustees
I have found that this is not want to ask for as it is at the discretion of the trustees.
if that happens your IPA concludes at the discharge of the trustees (for those with insomnia Insolvency act sect 299 - 334)
Good Luck Richard,
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| xmas baby |
Posted - 21 November 2011 : 11:12:40
In my previous post I mentioned that I was hesitant in contacting the RTLU with regards my change in I&E as they tend to be much stricter than the OR's office... in my experience. However, I was really pleasantly surprised that they have actually suspended my IPA payments for the remainder of my IPA (which comes to an end in April 2012). I wrote to them informing them of my rent increase due to my moving recently and sent them proof of the tenancy agreement. I also explained that my housekeeping costs had increased over the past 6 months and although I was hoping they would reduce my IPA payments to a more manageable level, I was not expecting them to suspend it altogether. I had been paying the full amount for the past 30 months, so maybe they could see I wasn't trying to pull a fast one and just needed help with the increase in my expenditures. I think if you are really honest with them and explain your financial situations they will try to help you and hopefully reduce your IPA. Likewise, if you get a pay rise, it is only fair to inform them of that so they can alter your IPA accordingly. It works both ways.
xmas baby |
| Viki.W |
Posted - 21 November 2011 : 10:04:44
Good news about the IPA godfer. I hope your job is safe, fingers crossed for you.
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/ |
| godfer |
Posted - 20 November 2011 : 13:31:27
Hi,
Following re-assessment and evidence submission I am delighted to report that the OR has suspended my IPA, 'til such time as my circumstances change - it being incumbent upon me to inform them of such. Moreover, I have also received a letter from MB informing me that the OR has instructed them to 'close the file' on me!
Some good news I guess! However, it could all be academic - I find out on Dec 10th if I am to be made redundant...that'd be a nice early Christmas present!!! |
| godfer |
Posted - 05 August 2011 : 14:00:17
Hi,
I contacted both the OR and MoonBeever (MB) last week in respect of my impending 'change of circumstance' (CoC). MB have since sent me a form to 'detail' the CoC and the OR has informed me that my case has now passed to RTLU. Upon this I contacted RTLU to enquire of the 'mechanism' for further administration of my BR and IPA. RTLU informed me that MB should always be my 1st point of contact and that the CoC form (once completed and returned to MB) will be assessed by them in conjunction with MB in order to determine if a re-assessment or suspension of any IPA is appropriate. |
| Skippy |
Posted - 23 July 2011 : 20:38:36
I hope MB have improved since I spoke to them! I ended up contacting the RTLU myself as MB weren't very helpful. I much preferred dealing with their predecessors at Clarke Willmott.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| debtinfo |
Posted - 23 July 2011 : 18:58:55
your first point of contact will always be Moonbeever as they are administering the IPA |
| godfer |
Posted - 23 July 2011 : 18:41:44
Guys,
I'm subject to an IPA - been 'paying' Moon Beever since May (alas, 33 payments remain). Once discharged in March 2012, what is the 'mechanism' in respect of the IPA and it's 'administration'; will the RTLU contact me, who do I contact post-discharge if 'circumstances were to change'?
Thanks in advance |
| Skippy |
Posted - 23 July 2011 : 18:32:57
RTLU is the Regional Trustee Liquidation Unit. They deal with cases involving assets or an IPA.
I never found the anyone at the RTLU rude but they weren't as easy to deal with as my examiner at the OR's office. Probably as their job is to realise as much revenue as possible from the BR's estate.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| Essie |
Posted - 22 July 2011 : 22:34:57
I'm sorry, what is rtlu?
Finally got head out of sand in October 2010
BR March 2011
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| xmas baby |
Posted - 22 July 2011 : 11:37:50
Hi,
I have also found RTLU much stricter than the OR and they really want every penny if you tell them of any increases, etc. They also seem quite stern and rude. Does anyone else think it strange that I have only ever had contact with the OR's office immediately after I was declared bankrupt and I have had no further dealings or correspondance with them since and that was 2 years ago. I don't even know who my OR is now.
xmas baby |
| Skippy |
Posted - 14 July 2011 : 21:58:57
As far as I'm concerned there's no point in being aggressive, it won't help the situation.
The OR's office that I dealt with was great, but I found the RTLU much harder to deal with - they were insistent I'd missed a payment, and I got the impression that they didn't want to investigate and just expected me to roll over and make the extra payment. As much as I wanted to tell them to stick it I sent polite but firm email telling them I'd made all payments and I didn't need the stress or uncertainty they were causing me through no fault of my own. They told me cancel my SO and they would investigate - probably if I'd been rude and aggressive they would have pursued the so called missing payment.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| debtinfo |
Posted - 14 July 2011 : 20:53:06
Thats good to hear, there are a small amount of bankrupt's that i see that go into this with a very aggressive attitude towards the OR which usually just inflames the situation, as most people here show if you treat them calmly and reasonably (thats not to say you cant request what you want and need from them) they will do the same |
| godfer |
Posted - 14 July 2011 : 20:19:10
Hi all,
my experiences of BR thus far have been broadly similar to those posted generally: I too have had excellent, positive contact with the OR (and their 'Officers'). Initial contact was prompt, 'business-like' and very professional - with a similar request to 'glafy' for Bank Statements and Pay Slips etc, which were duly proffered! The telephone interview was straightforward and 'negotiated' IPA fair and reasonable. Subsequent contact has continued in a 'business-like, professional' manner. Indeed, recent telephone contact made in response to written contact from a Creditor had informed me of a 'near end' to my 'affairs' from the OR's perspective!
Emotionally, morally and (perhaps?) ethically, BR can be a real challenge...yet mechanically/actually (for me at least) it has been (mercifully) painless.
I accept it ain't over...not by a long chalk - there'll be many a meandering turn ahead - but, hey...that's life! As it say's on the tin: It's a chance for a new beginning, take it! |
| glafy |
Posted - 14 July 2011 : 19:17:44
During our telephone interview the OR asked for bank statements going back a year as well as pay slips. As we had copies we supplied those but haven't heard anything more!
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
