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xmas baby
Average Member
537 Posts |
 Posted - 14 July 2011 : 11:43:52
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Hi godfer,
As the other posts have mentioned, yes you will need to tell the OR if your income and expenditure changes during the period of the IPA. I have been paying the IPA for over 2 years now and although my income has not really increased, there have been one or two 'one off' payments which I disclosed to the OR. I got to keep one of them but they claimed 70% of the other payment :(
I have just under 1 year left on the IPA and I am planning to move in the next few months, so my rent will be increasing. I will let the OR know what the new expenditure is and hope the IPA amount I am currently paying will be reduced to take this increase in expenditure into account. I have always paid my IPA's on time and always informed them of any extra payments, so hopefully they will not have any problems with my request. I must say though that apart from sending my initial bank statements to them just after I petitioned for BK, they have never asked me for any other statements, either annually or as a one off. Not sure if this is normal for everyone though.
xmas baby |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 July 2011 : 11:56:17
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I wasn't asked for anything either, apart from pay slips when I had a pay cut.
I think the important thing for anyone in an IPA to remember is that they CAN ask, and it's really not worth the hassle!
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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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 14 July 2011 : 12:03:15
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xmas bay and Traceyjr...many thanks for this!
I too am, alas, having to take a 20% paycut from September (with a requisite reduction in hours I hasten to add). Consequently, my income will reduce accordingly - yet my outgoings remain the same. I shall be contacting the OR and apprising them of such and hoping the level of IPA be reduced accordingly! |
Edited by - godfer on 14 July 2011 12:04:04 |
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pauld172
Starting Member
17 Posts |
Posted - 14 July 2011 : 12:04:18
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hi
i wasnt asked for copies of bank statements before court, after court or asked for them after the OR phone call!!!
they have worked from the info i put in the SOA!
mind you my wage has just increased as i have a new role - have emailed them with the details of the increase but havent heard anything back yet! |
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pauld172
Starting Member
17 Posts |
Posted - 14 July 2011 : 12:06:09
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| or payslips! i forgot to add that bit! lol |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 July 2011 : 12:38:08
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Sorry to hear about your pay cut Godfer. I only had a 7% pay cut, but they didn't cut the hours and when things improved I ended up doing more hours for less money!
I hope you get your IPA reduced - I'm sure the OR will be sympathetic.
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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glafy
forum expert
436 Posts |
Posted - 14 July 2011 : 19:17:44
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During our telephone interview the OR asked for bank statements going back a year as well as pay slips. As we had copies we supplied those but haven't heard anything more!
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 14 July 2011 : 20:19:10
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Hi all,
my experiences of BR thus far have been broadly similar to those posted generally: I too have had excellent, positive contact with the OR (and their 'Officers'). Initial contact was prompt, 'business-like' and very professional - with a similar request to 'glafy' for Bank Statements and Pay Slips etc, which were duly proffered! The telephone interview was straightforward and 'negotiated' IPA fair and reasonable. Subsequent contact has continued in a 'business-like, professional' manner. Indeed, recent telephone contact made in response to written contact from a Creditor had informed me of a 'near end' to my 'affairs' from the OR's perspective!
Emotionally, morally and (perhaps?) ethically, BR can be a real challenge...yet mechanically/actually (for me at least) it has been (mercifully) painless.
I accept it ain't over...not by a long chalk - there'll be many a meandering turn ahead - but, hey...that's life! As it say's on the tin: It's a chance for a new beginning, take it! |
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debtinfo
forum expert
2826 Posts |
Posted - 14 July 2011 : 20:53:06
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| Thats good to hear, there are a small amount of bankrupt's that i see that go into this with a very aggressive attitude towards the OR which usually just inflames the situation, as most people here show if you treat them calmly and reasonably (thats not to say you cant request what you want and need from them) they will do the same |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 July 2011 : 21:58:57
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As far as I'm concerned there's no point in being aggressive, it won't help the situation.
The OR's office that I dealt with was great, but I found the RTLU much harder to deal with - they were insistent I'd missed a payment, and I got the impression that they didn't want to investigate and just expected me to roll over and make the extra payment. As much as I wanted to tell them to stick it I sent polite but firm email telling them I'd made all payments and I didn't need the stress or uncertainty they were causing me through no fault of my own. They told me cancel my SO and they would investigate - probably if I'd been rude and aggressive they would have pursued the so called missing payment.
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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xmas baby
Average Member
537 Posts |
Posted - 22 July 2011 : 11:37:50
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Hi,
I have also found RTLU much stricter than the OR and they really want every penny if you tell them of any increases, etc. They also seem quite stern and rude. Does anyone else think it strange that I have only ever had contact with the OR's office immediately after I was declared bankrupt and I have had no further dealings or correspondance with them since and that was 2 years ago. I don't even know who my OR is now.
xmas baby |
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Essie
Junior Member
United Kingdom
115 Posts |
Posted - 22 July 2011 : 22:34:57
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I'm sorry, what is rtlu?
Finally got head out of sand in October 2010
BR March 2011
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 23 July 2011 : 18:32:57
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RTLU is the Regional Trustee Liquidation Unit. They deal with cases involving assets or an IPA.
I never found the anyone at the RTLU rude but they weren't as easy to deal with as my examiner at the OR's office. Probably as their job is to realise as much revenue as possible from the BR's estate.
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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godfer
Starting Member
United Kingdom
40 Posts |
Posted - 23 July 2011 : 18:41:44
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Guys,
I'm subject to an IPA - been 'paying' Moon Beever since May (alas, 33 payments remain). Once discharged in March 2012, what is the 'mechanism' in respect of the IPA and it's 'administration'; will the RTLU contact me, who do I contact post-discharge if 'circumstances were to change'?
Thanks in advance |
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debtinfo
forum expert
2826 Posts |
Posted - 23 July 2011 : 18:58:55
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| your first point of contact will always be Moonbeever as they are administering the IPA |
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IPA
