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Jane.l
Average Member
511 Posts |
 Posted - 04 January 2011 : 13:39:35
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Well, there is no way on Earth that I would work and only be £20 per MONTH better off! Wouldn't do it if it was £20 per week! 
I was very lucky, I got ED at 6 months, was not expecting it at all and was well prepared to just be a housewife and not work for the full 12 months, just biding my time.
I was just grateful for the chance to get rid of the lifetime of debt and start again, clean slate. I got a job soon after my ED, in the field I worked in before, so was lucky in that repect and ALL my wages are surplus now. So yes, we took advice and planned the bankruptcies that way.
I do think the new bankruptcy changes are a bit harsh TBH
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 04 January 2011 : 14:14:24
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Hi,
ED's are likely to go for 2 reasons:
1. It is an administrative nightmare, which detracts case clerks from concentrating on other case matters, and in some cases failing to action examiners instructions regarding property,investigations of misconduct.
2. Obtain more IPA's
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 04 January 2011 : 14:21:23
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Hi again,
the new rules regarding IPA's and BI in property, have come about, due to reduced fee income mainly derived from bankrupt's property, due to the decline in the property market, and less people becoming bankrupt, but instead in some cases being pushed into IVA's that will only realise fees for the IVA providers.
I've had interviews with some companies mainly to do with IVA's, but have not got anywhere, as I am not prepared to agressively push people into an IVA, purely to generate fee income, and commission.
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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debtinfo
forum expert
2826 Posts |
Posted - 04 January 2011 : 17:46:12
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| Well the way i see it is that you do what is right for you, If the IS doesent get enough to make its books balance they will just make the next round of changes more ardous until they do but that is for the people going bankrupt later to think about isnt it |
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trix
Starting Member
2 Posts |
Posted - 08 January 2011 : 01:09:39
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Wow, lets all sit on our arse for 12 month(or until ED)so we dont have to pay a penny back........
Unbelievable...... |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 08 January 2011 : 08:57:50
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quote:
Originally posted by trix
Wow, lets all sit on our arse for 12 month(or until ED)so we don't have to pay a penny back........
Unbelievable......
Yep, and another reason why the Insolvency Service will probably first of all do away with EDs and then increase the BR time from 1 year to 3 years.
Personally I think the discharge should be staggered to correspond to an IPA i.e. if you have an IPA within 12 months then you are discharged at the 12 month point, an IPA between 12 and 24 months then you are discharged at 24 months, an IPA between 24 and 36 months you are discharged at 36 months, no IPA then discharged at 36 months.
Or maybe BR should be increased to 5 years and if you don't have an IPA by the 36 month point then you have to wait the full 5 years to be discharged regardless of whether you have an IPA between the 3 year and 5 year point or not.
This would force the majority of people who have no interest in paying anything towards their debts into gaining employment as the sooner you get an IPA the sooner you will be discharged. It would result in probably 99% of people having to pay an IPA so it would be accepted and people would want to get an IPA as soon as possible so the could be discharged sooner and end the payments sooner.
Unfortunately there are people who are willing to avoid employment knowing that they would receive an ED in 6 months and could then get a job. This has meant that most BRs who are willing to pay back what they can will now be penalised by paying a higher IPA, probably not having the chance of an ED and, in the near future, possibly being BR for 3 years. |
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debtinfo
forum expert
2826 Posts |
Posted - 08 January 2011 : 10:33:46
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| i think thats a very good idea |
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Jane.l
Average Member
511 Posts |
Posted - 08 January 2011 : 10:57:38
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Well, in my case, I hardly think looking after 3 children and suffering health problems whilst chosing not to work was "sitting on my arse". I decided to put my family before the creditors, not a hard choice really, but each to their own.
I am just glad we went bankrupt when we did really, as they rules seem to be tightening up and many people will find it more difficult |
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moodybluetwo
Junior Member
156 Posts |
Posted - 08 January 2011 : 10:59:07
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| I thought the forum was to give advice to people overcome debt problems and make BR as easy a passage as possible. So what if someone is discharged after 6 months....or decides to take a lower paying job. Most people have come to this site to overcome debt problems and to start again being debt free.......so please stick to giving advice and let the IS and debtors follow the rules as they stand. |
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Jane.l
Average Member
511 Posts |
Posted - 08 January 2011 : 11:11:29
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| I agree, this forum and the sister IVA forum have got so judgemental over the last year or so. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 08 January 2011 : 11:38:06
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Unfortunately when people make statements like:
quote:
Well, there is no way on Earth that I would work and only be £20 per MONTH better off! Wouldn't do it if it was £20 per week!
Then people who are employed and are paying an IPA tend to get a bit annoyed. Especially if they are struggling to pay their bills/IPA and don't have the luxury of being able to pick and choose whether to stay at home or work.
If we are going to get back to helping each other rather than being judgemental then we ALL need to appreciate that people have all had a history of struggling financially and that we all have different personal situations.
Jane - This is not meant to be personal as there are other, flippant, remarks on the forum as well. It is just that this comment is in this thread.
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Jane.l
Average Member
511 Posts |
Posted - 08 January 2011 : 11:45:41
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| My point being, is that there are bound to be other people than me who feel this way, the new rules on IPA, leaving people with just £20 per month surplus, is going to, in my opinion, disencourage people from working. There is no incentive to work if you are not going to be any better off, £20 a month is £5 a week, what on earth can you do with that? People who are struggling already will be penalised even more. All this in my view, is just the IS trying to recoup their own costs, I cannot see any of this money via IPAs getting to the creditors |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 08 January 2011 : 11:56:12
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"There is no incentive to work if you are not going to be any better off, £20 a month is £5 a week, what on earth can you do with that?"
And there lies the problem with modern society (I sound old). 20 years ago people had something called Pride.
They were proud to go out to work and earn an honest living in order to be able to support their family and pay their bills even if the money they earned was only slightly more, or the same, than they would receive when on the dole. Nowadays that doesn't happen as people are quite happy not to work if 'it isn't worth their while' and rely on the state to support them.
All this does is put more pressure on people who are willing to work even if they don't make a huge amount of money. It means higher taxes, NHS, VAT, etc. and penalises the people who still have Pride and want to try to support their family rather than relying on support from the state.
This is the same thing that is happening with the BR/IPA process. Most people are willing to contribute what they can but some people are making a concious decision not to work in order to avoid having to contribute to their debts as 'it's not worth their while'. All that happens is the process changes (as we have seen with IPAs) and people who were willing to contribute what they could are penalised by having to pay 100% of their excess rather than 50%-70%. |
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Jane.l
Average Member
511 Posts |
Posted - 08 January 2011 : 12:03:49
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I understand your point but in my case, I was not entitled to any benefits, I have not claimed any in my life apart from Child Benefit years ago. Luckily my husbands wages were enought support us, all my wages would have been surplus. I now work, and luckily I am working for us as a family, savings, holidays, etc.
So, I cannot really comment on sitting around on the dole, i have never done it. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 08 January 2011 : 14:04:19
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This forum is here to try to make the process of BR easier and less intimidating for people, NOT to encourage people to avoid paying an IPA.
While BR isn't supposed to be a punishment, it's not supposed to be easy either. Many people have a lot of money written off, and sadly some seem to think they don't have to pay anything back, meaning the majority will suffer.
Regarding this forum (and the IVA forum) being judgemental - there is no problem with debate, and people have to accept that not everyone is going to agree with their point of view. As always, anything that goes against the forum etiquette will be deleted, and the poster may be warned or locked out.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Getting a job while being undischarged ?
Topic Locked
