| T O P I C R E V I E W |
| cpharo |
Posted - 10 August 2009 : 18:56:29
Can you put down money per month to save up for Christmas and birthday presents on the form in the outgoings section. I wanted to put down £20.00 per month |
| 15 L A T E S T R E P L I E S (Newest First) |
| Suzanne |
Posted - 12 August 2009 : 11:50:06
gettingoutofdebt
Your comment just made me smile - I had the funniest vision pop into my head.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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| gettingoutofdebt |
Posted - 11 August 2009 : 16:29:32
quote:
Originally posted by Suzanne
Just so as there is no panic withdrawals of your money from savings accounts
Maybe a run on the Co-op bank with 90% of people who have a Cashminder account withdrawing their money  |
| Suzanne |
Posted - 11 August 2009 : 16:16:28
Hi
Just so as there is no panic withdrawals of your money from savings accounts, this will not apply to the small suplus that is not claimed after an IPA/O or money that is not subject to the IPA/O as the surplus was not sufficient.
Also it states that it is after the basic domestic needs of the bankrupt and his/her family have been taken care of. As you are allowed to claim a monthly allowance for things such as a domestic break, common sense says that you would save this amount ready for an annual break.
The trick is to not read too much into these things on the technical manual, they are there as guide lines and usually only apply in extreme cases to help the examiners deal with the occasional oddity.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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| Jane.l |
Posted - 11 August 2009 : 11:05:33
but how would the OR know? They do not check the new bank account after bankruptcy? Mine never was and we managed to save quite a nice sum
maybe there is something to be said for saving it in a jar, hidden in the house |
| Niobe |
Posted - 11 August 2009 : 10:18:55
We have a little wall safe at home, all our important documents and any spare money (not that there is much!) is put into there and locked away.
The glimmer gets brighter all the time
Jan
xx |
| xmas baby |
Posted - 11 August 2009 : 09:56:56
It does seem crazy that even if you are saving out of your disposable income and already paying an IPA, they can still claim any savings you might have. If I was ever in the position of being able to save each month, I would take it out of the bank and either stash it at home or give it to a trusted friend or family member to take care of it for me.
xmas baby |
| Skippy |
Posted - 11 August 2009 : 08:47:42
I transfer my allowances over to my savings account. Touch wood, I've never been asked for bank statements since I originally went BR.
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/
25 IPA payments made, 11 to go - on the home straight! |
| gettingoutofdebt |
Posted - 11 August 2009 : 08:11:31
This is the reason that I withdraw all of my money from my bank account each month as soon as I have been paid. All I leave in the account is enough for the IPA, rent, utility bills, etc. This means that I can, hopefully, save a small amount each month as well as putting some aside for future bills (car tax, insurance, etc.) without having to explain to the OR why there is an excess in the account. |
| debtinfo |
Posted - 10 August 2009 : 21:17:35
you would think that saving would be encouraged, having said that i think that as part of your fee an expert to help with budgeting should be offered to all bankrupts or basic business advice for bankrupts who have failed businessess, so that people don't end up in the same place again. Although of course some people have just had a set of unfortunate circumstances |
| Skippy |
Posted - 10 August 2009 : 21:08:42
And don't get me started on Kerry Katona!!!
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/
25 IPA payments made, 11 to go - on the home straight! |
| Skippy |
Posted - 10 August 2009 : 21:08:11
Don't worry, I understand it's the rules, I just thought saving should be encouraged!
I presume they won't want the 83p left in my savings account this month!!!
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/
25 IPA payments made, 11 to go - on the home straight! |
| debtinfo |
Posted - 10 August 2009 : 20:57:30
it may not make sense or be fair but dem da rules, as i said prob only applicable to those with large savings. Imagine how much Kerry Katona could save up with the 30% surplus she gets to keep |
| Skippy |
Posted - 10 August 2009 : 20:53:48
That doesn't make sense to me. Surely if I save all my allowances, and save all my surplus (I don't!) then it's down to me, I'm just being careful!
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/
25 IPA payments made, 11 to go - on the home straight! |
| debtinfo |
Posted - 10 August 2009 : 20:43:39
in fact, just to thow a spanner in the works, although this would only apply where the amount in the bank is large
31.8.40 Build up of funds in the bankrupt’s bank account (amended May 2009)
Where there has been a gradual build up of funds in the bankrupt’s bank account it is likely that the source of those funds will have been a from a surplus of income and the official receiver, as trustee, should consider laying claim to those monies in the account that are in excess of those necessary to satisfy the basic domestic needs of the bankrupt and his/her family. Where the trustee wishes to lay claim to monies of this nature, the claim should be under an IPA or IPO (see Chapter 31.7), rather than as after-acquired property, and an IPA/IPO in to claim the monthly surplus should also be considered.
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| Skippy |
Posted - 10 August 2009 : 19:56:25
Jan is right, this will have to come from any surplus money that you have.
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/
25 IPA payments made, 11 to go - on the home straight! |
