| T O P I C R E V I E W |
| s1028 |
Posted - 15 October 2008 : 20:27:14
if i got made bankcrupt would i still carry on payiny for 3 years? |
| 11 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 18 October 2008 : 10:44:44
They can write or call you and ask about your circumstances but they CANNOT instigate an IPA once you are
"DISCHARGED".
If you have assets that haave not been dealt with by your discharge date they will still have to contact you and vice versa if a bill comes in that could be written on if the old BR then you would have to contact them.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| Needafriend |
Posted - 18 October 2008 : 10:34:19
Hi Bang up
Do you mean that if you have no ipa in place when you are discharged then that will be that.
As from what i understand yes they cant make you start one once discharged.
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| bang up |
Posted - 18 October 2008 : 10:26:38
skippy - is that definitely true about no ipa in place at time of discharge. |
| Skippy |
Posted - 16 October 2008 : 14:41:21
If you haven't got an IPA in place when you are discharged they can't implement one, so the only reason I can think they'd need to contact you is if they were suspicious about something.
I certainly won't be telling them of my whereabouts when my IPA is finished!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| 369 |
Posted - 16 October 2008 : 13:50:42
Hi,
we all seem to keep meeting!!!
that is true that you have to keep the OR informed whether you have an IPA or not until you are discharged...
but i read today on the insolvency website that they can contact you anytime after you are discharged and get an update from you on your circumstances....not sure they can do anything then...but it states it on there! |
| Skippy |
Posted - 16 October 2008 : 12:47:26
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| Needafriend |
Posted - 16 October 2008 : 12:41:23
Hi Skippy
Your a mind reader as i was just about to add that bit in.
We must stop meeting like this, people will talk you know. :-)
Take Care
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| Skippy |
Posted - 16 October 2008 : 12:32:37
If you don't get an IPA you only need to keep the OR informed of any changes in your circumstances until you are discharged from BR, not 3 years.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
| 369 |
Posted - 16 October 2008 : 12:04:53
Hello,
The IPA lasts for 3 years, and depending on the amount of disposible income you have left each month the OR can take 50-70% of this.
Just to also note, whether you get an IPA or not - you still have to keep the OR informed off your circumstances...ie change of address, change of income - up or down....
Thanks |
| jwmc77 |
Posted - 16 October 2008 : 00:33:21
hi s1028, yeah, if you have money left after you've paid you're monthly outgoing the or can take anything over half, and yes it'll be for the 3 years, not wot u want to hear but sadly true....
MAC |
| Needafriend |
Posted - 15 October 2008 : 20:32:48
Hi s1028 and welcome
If your income allowed it then yes you may well do.
You would have to have money left over from your income and expenditure in order for teh official receiver to instigate an Income Payment Agreement.
So if you had income of say 1600, outgoings of say 1400 that leaves you with 200 DI, disposable income and so the OR would look at getting about 100 from that per month.
If you get an IPA you are obligated by law to inform them of any changes in your I&E within 21 days and that goes for income going up or down.
Jo x
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Needafriends Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
