Hi, we have been sent a form to complete to allow us an early discharge. I just want to know that if we are granted an early discharge and given IPA, will we still need to inform the OR if we get a bonus from work? Thanks
Thanks so much for quick reply. This site is invaluable.My Husband and I wwere both declared bankrupt in Nov 09. We initially were given just a nil tax code as very little excess income left at the end of the month.However our morgage payment's have just gone down due to fix rate ending so suspect an IPA will be on the cards when we fill new IE form. Will they set up a joint IPA or will we have individual ones? My salary totals 1/3 of our income and my husbands 2/3.Thanks
You have individual ones, so for instance with your husband earning the majority of the income he might get one and you might not. You could always pos the figures up and we might be able to say whether it is probable or not. Obviously we cant say for deffinate
On our original IE form our expenses were considered fine except for an amount for £64 which we have to pay each month for medication for our dog. He said we would have to pay out of our dispossable income as they considered it not a necessity! Sadly it is not a luxury as our dog has a heart condition and he would die without medication. Hardly a luxury! So depending on whether we can persuade the OR to reconsider we will have either £275 or £339 in total left each month. Do you know what the level of excess income is for them taking 50% and when it increased to the next level? Thanks again for all your help.
ok, remember that you have seperate bankruptcies, so split your income 1/3 and 2/3's and then put 1/3 and 2/3's of the outgoings against the respective wages then you should have two surplus figures. What are they? dont include the medication as an outgoing (as the OR has already ruled it out)
If we don't include the vet bill each month the income left would be £339. my 1/3 would be £113 and my husbands would be £226. How much would we both look at paying each month?Thanks.
presuming that the figures are correct, the OR allows the rest and that you havent forgot to add anything then you would have an IPA of £56pm and your husband would have an IPA of £135pm
Hi, we have been sent a form to complete
Posted - 12 March 2010 : 18:47:51
