Before I start, just want to re-assure those of you who's posts i've read on here recently who are worries about Bankruptcy. I had a tricky time a few months back being refused and IVA 3 times and going bankrupt. I was petrified at the time but I've now been bankrupt for 6 months and it's been the most stress free 6 months i've had for about 8 years! My advice would be not to panic and listen to the great advisors on here and you'll be fine.
I just have a couple of questions of my own for the experts if any are around.
1) My IPA is agreed now by the courts however my salary has just gone up by £1000 PM. I told the OR about it but he seemed to think it didn't matter as my IPA was now agreed? I was sure I would have to pay more if my salary increased?
2) As part of my SOA i told them I was owed 600 in pay from a redundecny...this money arrived and I sent it to them. Since then, I have recieved an extra £350 becuase the creditors paid the full amount owed not the statutory amount. I am unsure what to do about this money, I've stuck it in my wifes savings account for now. Will I need to tell the OR about this and will they keep the money?
I dont know what to suggest or how it would effect you. Maybe one of the other experts will have an idea as i dont sorry.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
Has your expenditure gone up with your payrise??? this will be taken into consideration you have to bear in mind that anything over £500 disposable income is at 70% to pay over.
IPA Questions
Posted - 30 September 2008 : 11:39:56
