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godfer
Starting Member
United Kingdom
40 Posts |
 Posted - 03 July 2011 : 06:28:21
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Guys,
This is gonna be a long one...sorry. I need your help, expertise and experience!
My bankruptcy came into effect in March of 2011. My affairs were dealt with swiftly by the OR and an IPA imposed in May - I have made 3 payments thus far. My questions concern the IPA after expected AD in March 2012:
Can (and indeed how would, what is the mechanism) the OR amend the IPA in the event that my circumstances change and my disposable income increases? My current 'rent', the lease for which expires in 4 months, was recorded on my income and expenditure, and agreed by the OR. If I were to find a cheaper rental, would the OR 'claim' the saving? Does AD affect the IPA in any way?
Many thanks in anticipation of your efforts and response. No doubt further questions will arise!
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 03 July 2011 : 07:56:56
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You will need to inform them of any changes for the 3 years, even once discharged.
Yes, if you find cheaper rented and your expenses haven't increased, meaning your disposable income is more, then you will need to pay more.
It works the other way too, so if your circumstances change in the 3 years and your disposable income decreases, you may pay less, or nothing at all.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 03 July 2011 : 16:59:09
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Viki,
Many thanks! Although I fully accept that any bankrupt subject to an IPA is 'obliged' to inform the OR of any change of circumstance, I ask: is there any mechanism in which the OR can 'audit'; can\does the OR ever seek access to financial records, bank statements etc whilst any IPA is in force? |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 05 July 2011 : 07:21:03
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| Can anyone advise/comment on the above please? |
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 08:02:37
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| Yes they can |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 05 July 2011 : 13:10:22
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debtinfo,
Many thanks! One presumes they would periodically request copies of wage slips, bank statements etc?
Is there any other mechanism they can use?
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 14:00:17
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| whilst i do know the answer to that im not going to tell you, All you need to worry about is that you have an obligation to tell them of any changes, why would you need to know anything else? |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 05 July 2011 : 15:17:01
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| Again debtinfo...many thanks for your input. However, I will add that your partonising, moralistic approach was not so welcome! |
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 15:47:01
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| Nothing to do with morals, just your legal responsibility |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 05 July 2011 : 15:55:59
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Debtinfo is right, you do need to ensure that you tell the OR, and I completely understand why he doesn't want to explain the whys and wherefores of what the OR can do. No one is suggesting that you would try and cheat the system godfer, but unfortunately there are always people who will.
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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Essie
Junior Member
United Kingdom
115 Posts |
Posted - 05 July 2011 : 20:41:52
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quote:
Originally posted by godfer
Again debtinfo...many thanks for your input. However, I will add that your partonising, moralistic approach was not so welcome!
. I agree with Godfer here. Def patronising. :(
Finally got head out of sand in October 2010
BR March 2011
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Essie
Junior Member
United Kingdom
115 Posts |
Posted - 05 July 2011 : 20:43:38
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(sorry)
Finally got head out of sand in October 2010
BR March 2011
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 05 July 2011 : 20:48:47
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Essie,
Cheers! At least you managed to spell patronising correctly. D'Oh! |
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debtinfo
forum expert
2826 Posts |
Posted - 05 July 2011 : 21:03:26
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ok i relent,
Just send me your name, address, Court ref and OR's name and i will send you out all the inside tricks on how to make sure that you can earn lots more money without anyone ever finding out.
Promise |
Edited by - debtinfo on 05 July 2011 21:03:52 |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 05 July 2011 : 21:09:39
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| Durr, d'ye' think!? |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 05 July 2011 : 21:47:36
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This seems to have gone off track. The info that Debtinfo has provided is correct and as I said before the OR's methods won't be available on the forum as there are those who would abuse them.
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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Topic |
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IPA
