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rollercoaster
Junior Member
United Kingdom
327 Posts |
 Posted - 09 July 2008 : 18:04:23
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trying to fill out statement of affairs (wow, what a long haul) suddenly dawned on me that OH only made 2 payments into IVA before job loss, do we list them as a creditor on BR forms (and if so where) thanks  |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 18:07:58
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Hi Rollercoaster,
All creditors that were serviced by the IVA have to be listed seperately in the SOA. Also, please ensure you have a letter/certificate of failure of your IVA from your IP to take to the court, or it will be likely you'll be turned away.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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rollercoaster
Junior Member
United Kingdom
327 Posts |
Posted - 09 July 2008 : 18:14:03
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| have listed all creditors individually that were serviced by the IVA but does the IP become a creditor in regard to their fees unpaid or does the OR realize this for themselves as they are listed in the history?? |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 18:17:32
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Hi Rollercoaster,
You do have to list in the SOA if you've been in an IVA. I wouldn't bother listing the IP as a seperate creditor as it will be clear to the OR what's happened.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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rollercoaster
Junior Member
United Kingdom
327 Posts |
Posted - 09 July 2008 : 19:24:28
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thank you very much.
another question though, having added up our income and expenditure, our expenditure is still greater than our income, obviously things can vary, my husband has opportunity for overtime so i have given an estimate on his past earning and made it clear that it is an estimate. Does it matter that our expenditure looks a bit over income or will the OR expect these to match?? |
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rollercoaster
Junior Member
United Kingdom
327 Posts |
Posted - 09 July 2008 : 19:28:14
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| so many questions!! should i be filling household expenditure??? (family of four, OH also petitioning bankruptcy) or do i just divide these figures between OH and me, or between 4??? |
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melanie_giles
Senior Member
1191 Posts |
Posted - 09 July 2008 : 21:32:08
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On the contrary - you must list the unpaid fees of your IP as a creditor, as they are rightly claimable in any bankruptcy.
If your expenditure is more than your income, you have far wider difficulties than convincing the OR that the figures are accurate. As you no longer have a credit buffer to use to fund income shortfalls, you ought to really look to see where you can cut costs, for those weeks when overtime may not be available. I suggest that you divide the expenditure fugures in the same ratio as your earnings - if you earn 40% of the household income, you ought to pay 40% of the bills.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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John
New Member
United Kingdom
73 Posts |
Posted - 09 July 2008 : 21:42:51
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The SoA requires you to put the TOTAL figures of expenditure in your household. Whether you earn 100% or 1% is irrelevant.
The SoA will also have your income figure plus your husband's contribution.
If your husband is also going BR then he repeats the same expenditure figures on his SoA. He then puts his income figure and your monthly contribution. As you are both going BR the spouses contribution to the household, in each case, must equal the income figure he / she has entered on their own SoA.
The OR will have seen this a thousand times, he/she will clearly see the full picture |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 10 July 2008 : 12:37:10
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When I completed the forms I only listed the amount I paid, not the total amount. I then put down my salary, plus my partner's contribution to the household.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 10 July 2008 : 13:10:47
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Great advice all, please keep it comming!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Topic |
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failed IVA a creditor?
