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| samcor71 |
Posted - 07 September 2011 : 12:25:19
Hi. We went bankrupt in 2009 and received a early discharge few months after. We are paying an IPA and only have till September 2012 left to pay. Up till now we have had no problems to pay, both me and my husband. Unfortunately he is now un employed and we will struggle till he gets another job. I have contacted the Official Receiver who has given us a questionare to fill in i.e. incomings and outgoings. As I am the only 1 at present receiving an income my wage does not cover the normal outgoings. How and where can I find the "legal" amounts for the out goings as obviously living costs have gone up a lot since 2009. I want to make sure I put in the correct figures...originally we had Reviva do our bankruptcy and they were excellent,now I feel dumb and cannot make figures to match as I am not sure what to put in. Help will be much appreciated |
| 3 L A T E S T R E P L I E S (Newest First) |
| Blackie |
Posted - 07 September 2011 : 13:37:21
Hi Samcor71
I&E in bankruptcy is not an exact science. The OR will have some guidelines but each case is taken on its own merit. However you must be truthful and don't leace yourself short. Should you wish to get some ideas about expenditure, I believe that your best bet is to type in "Income and expenditure in bankruptcy" into your dearch engine and you will find a whole host of sites that may of help.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
| xmas baby |
Posted - 07 September 2011 : 13:12:08
Hi Samcor,
I have just asked for a review of my current I&E as some of the items listed have increased over the past 2 years. Basically, some of the items have to be estimated (within reason of course), such as housekeeping, petrol, travel, etc. But other expenses can be more precise, such as monthly direct debits for utilities, phone services, insurance, etc. I should point out that even if you list things on your I&E, there is no absolute guarantee the OR will accept all of them, particularly if you list 'holidays' or 'birthdays'. Again this is down to the decision of the individual OR. Some are more lenient than others. It is pot luck. Basically I would list 'everything' you can and then let the OR decide. Be realistic if you are giving estimates and make sure you don't under-estimate, but at the same time, don't wildly over-estimate as this will raise suspisions from the OR and they could well query and ask for proof of these expenses.
I'm still waiting for a response regarding my I&E review request, but I am hoping they will reduce it for the remaining 8 months I have left on my IPA.
Good luck
xmas baby |
| debtinfo |
Posted - 07 September 2011 : 12:42:05
It's simple you put down what you actually need to spend. There are no legal amounts |
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