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Stressed Susan
Starting Member
United Kingdom
14 Posts |
 Posted - 18 January 2011 : 15:48:06
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| I became Bankrupt on 30th April 2010, after a lot of soul-searching. I would definatly say it was a good move & a lot easier that I expected (if that is any help to anyone). I am still not discharged & am wondering about a couple of things. After about 6 months I managed to get a part-time job. The amount I am paid is not enough for there to be a payment arrangement. However there is talk of me being made permanent full-time. My question is - if I soon earn enough to do a payment arrangement, will this carry on after I am discharged? |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 18 January 2011 : 16:25:41
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HI SS
you must inform the OR about change in income you must also inform them about change in expenditure
when they have full information they will review your circumstances.
If they decide that you have disposable income of more than £20 they may ask for an order.
Do not put off getting the full time job just hope it starts from 30th March.
regards Richard |
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Stressed Susan
Starting Member
United Kingdom
14 Posts |
Posted - 19 January 2011 : 11:10:04
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Thanks for your reply Richard,
I'll definitely inform the OR of any changes, when they happen.
I asked the same question of the OR yesterday, but didn't get a response that made any sense. He also said that although my BR started on 30th April 2010 it wouldn't end until 30th April 2011. This has confused me. Surely that is more than a year?
To be honest, I have had quite a lot of conflicting information from the OR, which hasn't helped.
I have calculated that if I get the job full-time, that I will have £22.96 disposable income. They are welcome to make an order on that, it's only fair really.
I'm still unsure though whether they will continue with an existing order even after the discharge date. Would you mind clarifying that point please?
Many thanks
Susan |
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theguvnor
Junior Member
100 Posts |
Posted - 19 January 2011 : 12:53:10
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Sorry maybe it's me but 30th apr 10 to 30th April 11 is twelve months so the or is correct.
Reading between the lines I think they are saying that if your finances change before discharge you may well be liable to an ipa under the new rules.
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Stressed Susan
Starting Member
United Kingdom
14 Posts |
Posted - 19 January 2011 : 13:02:48
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Hi 'theguvnor',
Thank you for your reply.
I understand that I may be liable for an IPA before discharge. But the question is - how long can it last & will it go on after my discharge from BR?
This is what I am trying to get to grips with & I'm so confused.
Help! :) |
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theguvnor
Junior Member
100 Posts |
Posted - 19 January 2011 : 13:52:40
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As far as I am aware IF you get an ipa (signed and in place before April 2011) then this can run for 3 years. There are people with a great deal more expertise who can clarify this. Have you checked insolvency register to see if you are still br or discharged early?
Don't let these things stress you, you have a new life now and live to your means I am sure ;) |
Edited by - theguvnor on 19 January 2011 13:54:21 |
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Stressed Susan
Starting Member
United Kingdom
14 Posts |
Posted - 19 January 2011 : 14:26:02
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Hi theguvnor,
It seems that if that is the case, then it was pretty pointless to get the BR.
I have checked the insolvency register. I'm still there. It's probably a bit early anyway.
Don't you worry about me living within my means. 'm amazed what I can do with just a piece of string & a potato, lol.
Regards
Susan
Susan R Edmonds |
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theguvnor
Junior Member
100 Posts |
Posted - 19 January 2011 : 15:19:23
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Ahh well you see if you have an excess of money it's only fair that you pay a bit back to your creditors, I understand what you are saying but I'm sure you wouldn't begrudge repaying a small fraction to those you owed money to.
In reality if you had not of gone bankrupt I'm sure you would have been very much worse off (I know I would have been) if the worst that happens is you have to pay a few quid each month then so be it. Bankruptcy is not a punishment but it has to be as fair a process as possible to all parties involved.
Make sure that you have budgeted for everything correctly (obviously if you went full time you would need to pay extra for petrol/transport/parking and lunch) that would probably eat up most of your excess.
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Stressed Susan
Starting Member
United Kingdom
14 Posts |
Posted - 19 January 2011 : 15:25:16
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Thanks thegovnor,
Wise words indeed. Plenty for me to think about.
Thanks again for your support
Regards
Susan |
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theguvnor
Junior Member
100 Posts |
Posted - 19 January 2011 : 15:43:33
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no probs,
also if you were to get an ipa you would need to have worked a full clear month full time prior to discharge so that they could make a proper assesment of I&E (they cant give you an ipa based on what you MAY earn in the future) |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 20 January 2011 : 00:30:48
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Hi Susan,
Do you have any idea when you might be made permenant? Under the new rules you should expect to get an IPOQ(income payments questionnaire)about 6 weeks prior to the AD date, if you haven't been made permenant at that time, then your I&E should be the same(but if you have petrol costs your expenditure will be higher)and so no IPA.
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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Stressed Susan
Starting Member
United Kingdom
14 Posts |
Posted - 20 January 2011 : 08:31:11
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Hi Big Al,
Thanks for your reply.
I am expecting to go full time at the end of March. So I will still have a month to go. It sounds as if the IPQ should arrive before I go full-time anyway.
I had a look at the projected figures for full-time employment & I think I will still not have any surplus wages for an IPA. What I really need is a list of acceptable amounts for my outgoings. It seems quite hard to get an up to date formula for this from the internet. I realise that some of the amounts will vary per person - rent, council tax, Electric & Gas etc. But it's the other amounts that would be helpful - clothing/food etc. Do you know where to get a snapshot of this currently? Also is it over £100 or £20 surplus per month that the 75% is based on?
Unfortunately I am many miles from Warrington & I am not greatly familiar with how to use the other resources on this website. So if you can direct me to information that would be helpful, I would be grateful.
Thanks very much for your support.
Regards
Susan R Edmonds |
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Payment arrangement carrying on after discharge ?
