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mickishi
Starting Member
United Kingdom
3 Posts |
 Posted - 17 February 2011 : 17:12:51
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HI,
This is quite complicated and really hope somebody could help me.
I was declared bankrupt in Sept 2010 and have an ipa of £58. My only asset was my caravan which i currently reside in (i had this valued by the park at £4000-site fees of 2500,=£1500).
Since then an independent valuer sent by the OR visited but i havent heard anything else for months.
The park closes for a while each year and i have moved in temporarily with my former partener to whom i have 2 kids. This is helping both of us as i am temporarily homeless and i get to see and help with kids. (park reopens march)
During this time me and the ex have gotten on better than ever and talked last night about me staying there permenantly.
However i have never mentioned my BR to her as i was too proud and really just didnt want her to know.
My site fees are £242 a month and maintenece is around £200 a month.
I earn around £1300 a month while she works 24 hours a week (£6 an hour) so around 7500 per annum before tax.
She currently gets tax credits however i believe these would stop if i were to move in.
Could someone let me know how this would affect my ipa. I'm guessing i would immediatly lose van as this would no longer be essential.
I only want to know what sort of figure i would be looking at as i want to be prepared when i tell her about it and before we commit.
I'm dreading it to be honest and any advice would be appreciated.
Would my whold ipa be worked out again? I'm happy to supply any other figures needed.
Thank you so much in advance
mick
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 17 February 2011 : 17:52:09
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Hi Mick and welcome to the forum.
First of all I'm glad that things are working out with your partner and I hope you'll both be happy.
Regarding your IPA, you would need to let the OR know of your change in circumstances and they would reassess your IPA. As far as I know you would be assessed under the old 'rules', so you would only pay a percentage of your disposable income as you do now. If you have a look at my blog there is a table that can give you a ROUGH idea of what you would pay.
Good luck!
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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mickishi
Starting Member
United Kingdom
3 Posts |
Posted - 17 February 2011 : 18:14:26
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HI Tracey,
Thank you for your reply :-)
My original ipa looked like this:
rent £203 (estimated site fees but this is actually £243)
gas/electric £60
wayer £17
Telephone £35
travelling £173 (high as i moved over 30 miles from my place of work)
clothing 40
maintenence 200
housekeeping £250 (slightly higher to allow for me having kids twice a week
tv licence 13
insurances 23
wehicle costs e.g tax etc £88
parking 40
dentist 10
hairdresser 10
uk hol 40
total outgoing 1202
disposable income 116
amount to pay £58
This however is now all going to change
I earn more than my ex who only works part time, will our monies be combined and treated as 1 or 2? e.g we both have a mobile phone at £35 a month
my new figuress im guessing will look soimething like this but i dont know exactly until i ask her properly
rent £346.66
gas/electric £70
council tax 90
water 25
telephones £70
interent £10 (used for school work too!)
housekeeping:??? no idea guessing £400 for 2 adults and 2 kids??
tv licence 13
insurances 20
vehicle costs 88
travelling: £130 (30 a week, is this ok?)
travelling parner: 60
clothing 100
dentists 20
hairdressers 30
holidays 60
total: 1532
calculated total income
wages only:
1900
dont think we will be entitled to any tax credits and not sure if child benefit is allowed.
As my income comprises 75% of our income if i move in how do you think this will affect my ipa?
These figures were all combined (e.g 2 phones @35)
im so confused and dreading explaining this too her and dont want my ipa to shoot up considerably :-(
is it worth it? :-( i dont want to cause misery to us both :-( |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 17 February 2011 : 18:42:13
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If you earn 75% of the household income then it's fine for you to pay 75% of the bills. Your partner's income will not be included in your IPA, only to make sure that you each paying your fair share of the bills.
Hopefully one of the professionals will have a look at your I & E and give their opinion.
And yes, it is worth it! You only have your IPA for 3 years so don't let it hold you back. I wondered what I was getting my OH into when I went BR (nothing as it happens!) but we got through everything and we're now getting married. Life's too short to look back and think 'what if', so go for it.
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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HI, This is quite complicated
