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badgered
Starting Member
United Kingdom
32 Posts |
 Posted - 01 February 2009 : 13:20:32
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| good afternoon folks could someone give me some advice on a income payment agrrement.i have recieved a letter of the OR as regards one.they want me to pay 50 a month for 36 months.what happens as to when you get disharged if you are paying this.when i filled in my original SOA i had no money left at the end of the month.i put my partner contributed 500 a month to our expenditure.thats what we live on.2 adults 2children we have to buy food 400 amonth alone which leaves us 100 amonth for everything else.60 quid for petrol then that leaves10 aweek for anything else .no savings if anything cropped up or anything else we are in trouble.can i send the OR A TOTAL EXPENDITURE sheet.they never went into it in my interview.i have no idea how much money we are allowed to have per month.can someone give me some advice.thanks |
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coxy
New Member
United Kingdom
63 Posts |
Posted - 01 February 2009 : 13:33:04
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HI
Someone will come along to advise you better but as i understand it you have to have over 100 quid a month disposable income before the OR recommends an ipa then its 50 to 70% above the 100 quid if that makes any sense. |
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Jane.l
Average Member
511 Posts |
Posted - 01 February 2009 : 13:49:41
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This happened to us, if you do not agree with it, DO NOT sign it! We had £20 surplus per month and the OR wanted £52!
First thing you should do is ask the OR for a written breakdown of all the figures as you cannot see where they are getting that amount from and you do not agree with it. I was prepared to go to court if necessary but in the end they dropped it and we got early discharge.
ETA: did you list ALL your expenditure? Our OR said they were not allowing contents insurance, optician costs and dentists as they said we did not list them!  But I know I did! We had a bit of a fight with them about this and I pointed out that they were going against their own guidelines and they dropped the matter  |
Edited by - Jane.l on 01 February 2009 13:52:25 |
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John
New Member
United Kingdom
73 Posts |
Posted - 01 February 2009 : 15:15:09
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Hi badgered
you should have listed any benefits which you get or are entitled to on your SoA.
The OR will be able to calculate this whether you are claiming the benefits or not.
Child benefit either way cannot be included as household income but tax credits can. From what you have posted I'm not sure if you receive this benefit or even if you qualify.
I would also check the IPA proposal letter to see if the word "voluntary" appears anywhere. A bankrupt, even if they do not have sufficient income to meet what are considered the essential needs of you and your family, can if they wish make a voluntary contribution.
Are they trying to stitch you up?
Another point, if these were your debts alone then they cannot impose an IPO through the court if you have no income as effectively your partner would be paying the IPA / IPO.
As Jane.l has already said, under no circumstances sign the proposal just politely queery how they came to the conclusion that you could afford it and if necessary suggest, if they won't initially back down, that you would prefer that the judge made the final decision. |
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badgered
Starting Member
United Kingdom
32 Posts |
Posted - 01 February 2009 : 16:08:30
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| hello john ,no it doesnt say voluntary anywhere on the letter.it just says on the basis of the information provided they have prepared an i p a of 50 pounds a month.it says write to them on the letter within 14 days if im not happy with the terms. on my original soa my income is listed as 1280 and my total expenditure was 1278.i left housekeeping blank and clothing blank as my partner pays for these.i put that she contributes 500 a month which obviously covers everything else.she has her own bills to pay.eg loan and catalouges,although these are not a large amount.i have worked out our total income.my income £1280 partners income £ 400(after she has paid her debts) child benefit £80 tax credit £40.total income £1800 mort 430(which includes 30 a month arrears payment)only on intrest only mortgage at minute till i getsorted. secured loan 270,maintenance 140,council tax80,gas&elec 90,water 45,telephone35,housekeeping400,houseinsurance21,petrol/travel pass75;tv licence14,car tax,15,car insurance25,prescription15,dentist15,optician20,family insurance60,breakfast club(before school club)10)domestic break 20,emergency fund20.as you can see this takes up all of our income.if my partner was off sick we would be in big trouble as she doesnt get any sick pay.it was i that went bankrupt,she was unaware of the scale of my debts.it was only after my pay was reduced due to shift change and my heart problem in 2007 that i was unable to continue paying my debts.i also was doing overtime then also but dont flog myself to death(excuse the wording)anymore .but as you can see we a living on such a fine line as to regards income.do i set out all this expenditure clearly on a sheet of paper and send it to the OR.I DONT WANT THE OR TO THINK I AM TAKING THE MICKEY AND PENALISE ME MORE.SORRY FOR THE LONG POST.ANY ADVICE WOULD BE A HELP |
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John
New Member
United Kingdom
73 Posts |
Posted - 01 February 2009 : 16:16:47
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Hi
I would certainly advise you to continue regular communication with your examiner so that a true DI figure can be established. |
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badgered
Starting Member
United Kingdom
32 Posts |
Posted - 01 February 2009 : 18:25:35
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| Thanks for you advice.i will write tomorrow to my OR .i will enclose list of total expenditure.do you think im asking to much to reconsider there approach. |
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John
New Member
United Kingdom
73 Posts |
Posted - 01 February 2009 : 18:42:54
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Hi
not at all. It's very important for you, the OR and the creditors that a true understanding of your I&E is reached for a decision regarding possible IPA /IPO to be considered fairly. |
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badgered
Starting Member
United Kingdom
32 Posts |
Posted - 01 February 2009 : 19:13:05
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| thanks john,what do you think i should write in the letter.does this sound ok.dear sir/madam.i am replying to the letter regarding the recent IPA sent to me.i would find it a struggle to pay £50 amonth and would you reconsider your decision.i enclose a total income and expenditure for myself and my partner.thanks.is that to brief |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 01 February 2009 : 19:30:01
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To save yourself another few days of concerns, why not ring your examiner within the Insolvency Service or indeed the office whose name is on the letter you have received and discuss your concerns with them direct tomorrow - omissions can occur, just go through each item with them, they will explain whether or not it is classed as an allowable expenditure and you can look to revise the payment with them there and then over the phone. This should sort this situation out for you in a far quicker timeframe and hopefully end the stress you are currently feeling
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
Insolvency Manager
Jones Giles
01446 711780 |
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badgered
Starting Member
United Kingdom
32 Posts |
Posted - 01 February 2009 : 19:46:47
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thanks melanie.i wll give them a ring. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 01 February 2009 : 22:12:28
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I would agree with Melanie
It is also good to get a relationship going with your examiner as it is easier to put your pointy of view over by phone than in a letter
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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someone give me some advice on a income payment agrrement
