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| T O P I C R E V I E W |
| stanton |
Posted - 11 March 2009 : 07:11:38
Hello
second post here after some excellent information from John that's really settled my mind; all I can say is sincere thanks for this site as it's a true lifeline.
I've received my forms today (hearing 1st May) and could use some guidance regarding income and expenditure and IPA. What sort of figure for housekeeping is the OR likely to accept? - I'm keeping a small flat by myself but do have a longstanding health condition that means I can't skimp on food and ideally need decent produce (fresh fruit and veg, etc; no con, I'm not looking to dine like a king but I do tend to get poorly if I don't have decent nutrition), plus I'll have my two year old staying with me every weekend and maybe 2 nights a week. I've seen various figures suggested - does £200-250 all in (including cleaning materials, washing, food for my daughter, etc) seem acceptable?
Also, my flat's all-electric and it's by no means the most effective heating system; the boiler's old and the storage heaters eat money (they're both about 25 years old); between these and other essential appliances (fridge, etc) I estimate it's going to cost me about £140 a month in fuel which I fully accept seems excessive but actually is a fair reflection - again, will this be accepted? It's a rented property so there's not much I can do, and I'm not in a position to move.
Finally, as a rough guide, what sort of amount of surplus income would attract a 50% or 70% IPA? Hopefully I'll be working again shortly and estimate having around £360 left after everything is paid out - is a 50% or 70% agreement likely?
Once again, I can't thank you enough for this site and the advice I've directly received and that to others. One of the biggest fears of BR, which I'm sure most people will agree with, is the overall uncertainty, hence the informational and emotional value of these forum.
Thanks again.
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| 3 L A T E S T R E P L I E S (Newest First) |
| stanton |
Posted - 11 March 2009 : 15:03:22
Many thanks again, John and pix1. It's an unfortunate compliment but several people I know are having to consider BR and I've advised them straight to this site. |
| pix1 |
Posted - 11 March 2009 : 12:54:14
stanton,
please look through the following links form the insolvency service, especially the household psreadsheet on one of them.
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)
FAQ;
http://www.insolvency.gov.uk/faq/faq.htm
Technical Manual;
http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/
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| John |
Posted - 11 March 2009 : 08:26:42
Hi stanton
many thanks for your kind words. All of the experts on here do so free of charge and are only too pleased to give asistance where we can.
The standard expenditure allowance for a single person is £195 ish (different OR offices will be a little more flexible on this and who you get is down to the luck of the draw). As you have your daughter staying with you quite frequently (please ensure you explain this in the appropriate box within section 10 of the SoA or in additional info - section 13) I see no reason why you should not be successful in claiming £250.
Your fuel bills are what they are. To support your claim submit the latest fuel bills to the OR.
The percentage of DI paid towards an IPA works on a sliding scale commencing at 50% and rising through 60% ; 66% up to 70% maximum. I don't have the table to hand (it's on my office PC and I am currently at home) but from memory I think it would be 66% against a DI of £360.
If that's correct your IPA would be £238 leaving you £122.
It is essential you claim for all allowable expenditures and the appropriate sum for each expenditure in accordance with your circumstance.
Perhaps when you have completed your I&E in draft (before entering the details onto the forms themselves) you could list the income and expenditure claims on the forum for futher advice and who knows, you may be able to get the IPA contribution figure down further than you think.
John White
England Jackman & Spacey |
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