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wayne.d
Junior Member
172 Posts |
 Posted - 28 April 2008 : 23:07:00
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hi, i declared myself bankrupt in september 2005 and made monthly payments to the OR for 18 months when i was made redundant in july 07, my BR was suspended. I am starting work next week so new payments will be assessed and continued, will the 10 months out of work be taken off or do i still have 18 months left to pay.
thanks
Wayne
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storm
Junior Member
United Kingdom
232 Posts |
Posted - 29 April 2008 : 11:56:42
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Are you sure you have your dates right cos I worked out 18 months from Sept 05 is March 07 so you would have finished paying before you was made redundant wouldn't you???
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 29 April 2008 : 12:03:56
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Not necessarily - an IPA can take months to set up. I was made BR in March last year and made my first payment in June, and I've heard of people who have waited a lot longer.
Regarding the original question, as far you will need to speak to either your OR or whoever is administering your IPA (Clarke Willmott?) for clarification.
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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wayne.d
Junior Member
172 Posts |
Posted - 29 April 2008 : 12:23:39
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| i declared BR sept 05 and started payments Dec 05 scheduled for 3 years, i was made redundant july 07 so my last payment was june 07, with no income my BR payments were suspended by the OR which leaves around 18 months, i was hoping the time i am unemployed was taken off the time left. Also the job i will start is not great pay so i think i can get around £40pw tax credit if i apply, can they include this in my salary and take 75% excess or just base it on salary alone. |
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storm
Junior Member
United Kingdom
232 Posts |
Posted - 29 April 2008 : 12:28:11
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| The best thing to do is contact your OR or IPA as skippy suggests. They are in the prime position to tell you where you stand |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 29 April 2008 : 13:34:32
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Hi Wayne,
An IPA/IPO will last for 36 months regardless of what is paid, if the payments have been suspended during your period of unemployment this will not carry forward you will only have to start paying again once you have a disposable income and this will be the balance of the 36 months no longer.
Hope this helps.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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wayne.d
Junior Member
172 Posts |
Posted - 29 April 2008 : 17:18:43
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| thanks for the advice, it is appreciated, it will be 36 months Dec 08, so hopefully my last payment. |
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my BR was suspended when i was made redundant
