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Tess
Junior Member
United Kingdom
219 Posts |
 Posted - 11 May 2008 : 09:04:19
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I have been told that the OR does not take into account Tax Credits or Disability payments when deciding on an IPA is this correct. An IP told me that he would only look at my salary which is £1110 per month. Just need to clarify this.
Tess
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melanie_giles
Senior Member
1191 Posts |
Posted - 11 May 2008 : 22:54:19
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That is correct for bankruptcy purposes, although they can be used as income to support an IVA.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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pix1
Average Member
689 Posts |
Posted - 13 May 2008 : 18:42:43
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| Does this meant the OR also does not take into account Child Benefit when assessing disposable income vis a vis a possible IPA/IPO? |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 13 May 2008 : 19:10:47
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Hi Tess and Pix,
The benefits you are receiving be it disability, tax credits or child benefit will form part of your overall income therefore will be calculated against your expenditure and used for the make up of any IPO/IPA.
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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Tess
Junior Member
United Kingdom
219 Posts |
Posted - 13 May 2008 : 20:11:07
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I am very confused One expert is saying that they are taken into account and another says that they are not. Anyone else have any idea.
Tess |
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Tess
Junior Member
United Kingdom
219 Posts |
Posted - 14 May 2008 : 07:17:18
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| Can anyone else throw some light on this |
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melanie_giles
Senior Member
1191 Posts |
Posted - 14 May 2008 : 07:59:16
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I stick by what I said Tess - having employed a manager from the Insolvency Service who has actually worked at calculating these payments, but at the end of the day it is down to the individual examiner to use their discretion, so there is no consistent answer I am afraid.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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pix1
Average Member
689 Posts |
Posted - 02 June 2008 : 14:05:27
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| I think the SOA form asks about tax credits or child benefit so presumably they would be taken into account in any assessment. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 June 2008 : 14:33:24
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Hi all,
Any income from benefits will be taken into account.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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IPA
