I declared voluntary bankruptcy in February. Having argued with the official receiver for several months they are insisting i contribute half of my disposable income (£100)towards my debts. I'm distraught! for the first time in years i am living quite happily and now they want to take my money for 3 years! Is there anything i can do to avoid this? My parents have offered to pay a settlement figure of £1000 - have you ever heard of anyone doing this? Any advice would be hugely appreciated.
Hi I am not aware of anyone successfully offering a settlement figure - and if you were it would need to be the £3600.
The other issue is that if you are in an IPA you have a responsibility to advise the OR of any change in circumstance over the 3 years. Technically the IPA can go up or down over this time
Were you not aware that you would have to make payments if you had sufficient disposable income? This should have been explained to you when you took advice about BR.
Is paying £100 per month for 36 months really that bad - you've had all your debts written off after all.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
Hi tiffany lg, I pay an IPA of £277 and I have only paid two payments so far and do find it difficult. It is, however, a far less gloomier prospect knowing this is only for 36 months rather than the amounts I was paying, prior to BR, and still would not have anywhere cleared my debts this side of life? I have drawn up a little sheet with the dates of IPA payments and mark them off as they occur with a fluorescent pen! Really gives me a light at the end of the tunnel. Like Skippy said the likelihood of an IPA should have been explained to you.
I declared voluntary bankruptcy in February.
Posted - 06 August 2009 : 16:19:56
