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T O P I C R E V I E W
Jeanette.sp
Posted - 07 October 2009 : 13:51:40 I am a Snr Citizen on guaranteed pension credit and have monthly repayments help and council tax exeption. However, I am finding it very difficult to keep up with minimum monthly credit card payments although as yet I do not have any arrears or missed payments If things got really bad and I had to go the backruptcy route would I lose my home and consequently my guaranteed pension credit and potentially face homelessness?
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 07 October 2009 : 16:43:46 You shouldn't lose the pension credit however it will be taken into account for an IPA (Income Payment Agreement). If you have more than £99 disposable income (DI) after food, bills, etc. then you have to pay a certain percentage (50% - 70%) of this as an IPA to the OR for 36 months.
Is there equity in your property? If so, then the OR would want to release this to pay to your creditors.
