| T O P I C R E V I E W |
| LastResort |
Posted - 05 March 2009 : 18:42:16
Hi, I'm Kelly
I've spoken to Melanie on the phone today. (Hi Melanie)
I thought an iva would be the best option for my debt problem, but it turns out I don't have enough disposable income to do an iva. I've decided that bankruptcy is my best option, after thinking it through, and getting some fantastic advice.
I'm a single parent, and work part time. Apparently, they can't take tax credits into account so it looks as though I won't have to pay anything towards my debt, because my salary isn't much. Also, the court fee will be reduced because I'm on working tax credit.
My court date is Thursday 19th March and I'm actually looking forward to it. I feel like a weight has been lifted off my shoulders
I'm waiting for the forms to come now, so that I can get stuck in. I'm not going to pay a penny to my creditors from now on...I feel a bit 'free' already, if that makes sense...? I know there's a way to go yet though.
Thanks Melanie, our chat really helped me. I hope to get to know you all soon xxx
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| 13 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 07 March 2009 : 14:29:59
The forms really aren't that difficult, although they look quite daunting! I did mine online - there are hints to help you fill them in, and you can edit and save them as often as you like.
Good luck x
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/
21 IPA payments made, 15 to go - on the home straight! |
| LastResort |
Posted - 07 March 2009 : 13:27:52
Wow thanks very much for all that info x |
| pix1 |
Posted - 06 March 2009 : 21:08:02
Lasr Resort,
Good luck with this and the positive attitude will stand you in good stead.
Make the Insolvency Service website your mainstay.
Especially, make sure you use up all your essential expenditure allowances.
Please see the following links;
Insolvency Service
Home Page;
http://www.insolvency.gov.uk/
FAQ;
http://www.insolvency.gov.uk/faq/faq.htm
Technical Manual;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/
Realisation of Assets;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/HomepageChapter31.htm
Property - Family Home;
http://www.insolvency.gov.uk/freedomofinformation/technical/propertymatters.htm
(Mortgage Shortfall);
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter33/part6/part_6.htm
http://www.insolvency.gov.uk/faq/faq.htm#16
(Vehicle);
http://www.insolvency.gov.uk:8765/query.html?col=test&qt=vehicle&charset=iso-8859-1 (see FLOWCHART FOR MOTOR VEHICLES)
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part2/part2/part_2.htm
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part2/part4/part_4.htm
Income Payments Agreements and Income Payments Orders;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/Introduction.htm http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part7/part7/part_7.htm (see link to Household Expenditure Spreadsheet)
Bankruptcy Restriction Undertaking and Bankruptcy Restriction Order;
http://www.insolvency.gov.uk/guidanceleaflets/bro/bro.htm
Early Discharge;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch13-24/Chapter22/part2/Part%202.htm
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| LastResort |
Posted - 06 March 2009 : 17:22:28
It does help yes, thanks again Melanie.
I have applied for a natwest Step account as you suggested, just waiting for the paperwork to come now |
| Melanie.n |
Posted - 06 March 2009 : 08:41:34
Hi Kelly, glad you found the forum, it can be relly helpful for people in your situation. You do not need anyone to fill in the forms for you they are not difficult, and you can ring me or email me at any time if you are stuck, as i stated when we had our chat, due to level of your income, you would not be likely to receive an IPO (Income Payments Order) the bulk of your income is made up of WFTC and as such this would not result in you having a sufficient disposable income (DI) of excess of £100 per month the trigger point of an IPO.
Hope this clarification helps
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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| LastResort |
Posted - 05 March 2009 : 23:22:53
Hi again
Do you know this for sure? Why would Melanie tell me that they don't, I wonder....?
I wonder if an expert could please clarify this...because I'm confused now. Thank you x |
| got there |
Posted - 05 March 2009 : 21:28:28
You include on your forms but as far as an IPA goes they do not count this towards disposable income, they would count CTC.
HTH
GT |
| ashford |
Posted - 05 March 2009 : 21:02:52
Why do they not take child benefit into account? I have included this in my forms and rely on it to pay my monthly outgoings at the moment till my youngest starts full time school and i can go back to work. If i cant include it my outgoings will be more then what we have coming in. |
| Niobe |
Posted - 05 March 2009 : 19:37:46
It shouldn't do. As long as you have the completed forms with you when you go to court, you'll be ok.
The glimmer gets brighter all the time
Jan
xx |
| LastResort |
Posted - 05 March 2009 : 19:20:37
Oh really? I was told that they wouldn't be able to take them into consideration....I'm confused now 
Thanks Jan, I'll have a look at the form then. Will it matter if I fill it in online now that I've requested them in the post? Will it matter? |
| got there |
Posted - 05 March 2009 : 19:04:06
they will take tax credits into account but NOT child benefit - its good you should have the facts!
HTH
GT |
| Niobe |
Posted - 05 March 2009 : 18:59:15
You can do the forms yourself online:
https://www.insolvencydirect.gov.uk/isolv/
You can save them as you go along, correct them, and of course ask on here if you have any queries.
The glimmer gets brighter all the time
Jan
xx |
| LastResort |
Posted - 05 March 2009 : 18:55:43
Sorry i forgot to ask....
The BR clerk at the court said I would probably need a solicitor or the CAB to help me complete the forms...are they really difficult?
Also...she did say that it's not guaranteed that I'll get the £150 discount on the fee, she said it depends on my tax credit. I get working and child tax credits. ... |
