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emdaz
New Member
71 Posts |
 Posted - 14 May 2009 : 10:36:32
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Hi guy's
Just got off the phone to CCCS. Went through my budget it says I'm 600 short every month. She was telling me about offering a pound a month till I find a job after redundancy. When I brought up bankruptcy, she was dead against really urging me not to consider it.
I still think I will go for it, just got a few questions about it:
1. If I go bankrupt while unemployed, how would that affect an IPA??
2. If there is no IPA because of said unemployment, what happens when I get a job during first 12 mths of BR?
3. I have a holiday, paid for b4 BR has anyone been in this position b4 if so what should I do?
4. Would moving back with parents who are employed affect our BR?
5. Would purchasing anything i NEED now (ie: baby highchairs) be detrimental to my BR?
6. Can you be refused bankruptcy?
Thank-you for your help in advance |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 14 May 2009 : 11:04:43
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Hi,
1. If I go bankrupt while unemployed, how would that affect an IPA??
If you are on benefits you won't pay an IPA.
2. If there is no IPA because of said unemployment, what happens when I get a job during first 12 mths of BR?
When you find employment you will need to complete a new I&E and depending on the disposable income you may have to pay an IPA then.
3. I have a holiday, paid for b4 BR has anyone been in this position b4 if so what should I do?
I'm not too sure on this one but the OR may be interested. Is it an expensive foreign holiday or UK holiday? You are normally entitled to save money each month for a UK holiday.
4. Would moving back with parents who are employed affect our BR?
No, the BR only affects the people who are declared BR.
5. Would purchasing anything i NEED now (ie: baby highchairs) be detrimental to my BR?
No, but the OR would probably ask for details during the interview although they realise that you need additional items for the baby.
6. Can you be refused bankruptcy?
If you haven't sought profession advice you can be refused but as you have talked to the CCCS this won't be a problem. I haven't heard of anyone being refused for any other reasons. |
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emdaz
New Member
71 Posts |
Posted - 14 May 2009 : 11:12:55
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| Thank-you for your help, however does anyone know the threshold on disposable income before an IPA is set up? And what affects would it have if i was self employed? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 14 May 2009 : 11:18:39
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If you have less than £99 disposable income then you are not liable for an IPA. Any more and you would pay a percentage (between 50 and 70%) of your disposable income.
If you were self employed then the OR may take your monthly earnings as an average of 3 months salary and work out an IPA based on this but there are other people on this board that are self employed so I will let them confirm this. |
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rob111
Starting Member
11 Posts |
Posted - 14 May 2009 : 17:25:36
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| hi. i recieve incapacity benefit and disability living allowance of more than £700 per month. are you saying the or cannot make me pay anything, like an ipa ? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 14 May 2009 : 18:30:15
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I am not sure about incapacity or disability benefit but I know that JSA and, I think, child benefit cannot be included in an IPA.
One of the experts should be able to confirm whether disability and incapacity benefit can be included in an IPA. |
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Deedee
New Member
United Kingdom
60 Posts |
Posted - 14 May 2009 : 21:32:08
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quote:
Originally posted by gettingoutofdebt
Hi,
1. If I go bankrupt while unemployed, how would that affect an IPA??
If you are on benefits you won't pay an IPA. Agree
2. If there is no IPA because of said unemployment, what happens when I get a job during first 12 mths of BR?
When you find employment you will need to complete a new I&E and depending on the disposable income you may have to pay an IPA then.
Don't forget that when you find work your expenses will increase ie: travel, clothes and you might like to increase/add some things when you are earning more. You need to have £99 surplus before the OR will look at an IPA.
£100 to £240 - 50%
£250 to £340 - 60%
£350 to £490 - 66%
£500 to £600 - 70%
3. I have a holiday, paid for b4 BR has anyone been in this position b4 if so what should I do?
I'm not too sure on this one but the OR may be interested. Is it an expensive foreign holiday or UK holiday? You are normally entitled to save money each month for a UK holiday.
I have seen some OR's take the holiday and cash it in and others have allowed the bankruptee to take the holiday, so it is a case of just suck it and see.
4. Would moving back with parents who are employed affect our BR?
No, the BR only affects the people who are declared BR.
None at all, I assume you will be paying rent and something towards the utilities, which will be fine.
5. Would purchasing anything i NEED now (ie: baby highchairs) be detrimental to my BR?
No, but the OR would probably ask for details during the interview although they realise that you need additional items for the baby.
Check to see if you are entitled to the £500 maternity grant. Also check out www.freecycle.org and join your local groups, you express an iterest in an item and then if selected then you go and pick your item up for free. Check out the local charity shops, local paper and of course Ebay. Also make sure you are claiming all you should be www.entitledto.co.uk
6. Can you be refused bankruptcy?
If you haven't sought profession advice you can be refused but as you have talked to the CCCS this won't be a problem. I haven't heard of anyone being refused for any other reasons.
Also if you are not insolvent it can be refused but by the sounds of it you are insolvent.
Just added my 2 pennies worth to gettingoutofdebts good advice. |
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Deedee
New Member
United Kingdom
60 Posts |
Posted - 14 May 2009 : 21:34:04
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quote:
Originally posted by rob111
hi. i recieve incapacity benefit and disability living allowance of more than £700 per month. are you saying the or cannot make me pay anything, like an ipa ?
No you won't get an IPA unless you are working as well as getting benefits. |
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emdaz
New Member
71 Posts |
Posted - 14 May 2009 : 21:39:29
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| Appreciate all the advice guys, What is the actual definition of insolvent?? |
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Deedee
New Member
United Kingdom
60 Posts |
Posted - 14 May 2009 : 21:44:53
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What you are :)
Your debt's outstrip your income, you are insolvent. |
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Topic |
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BR Advice
