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leen.ow
Starting Member
31 Posts |
 Posted - 14 January 2010 : 19:47:04
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Thanks all for your responses so far.
Melaine, when you say ORs are "allowing" car HP, does this mean they allow the repayments as a deductible expense when we come to work out my IPA?
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Steve Thatcher
New Member
United Kingdom
70 Posts |
Posted - 15 January 2010 : 13:35:04
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I have certainly had situations where a car has been classed as an exempt asset the OR has allowed repayments to continue.
In respect of my earlier comments I can only post what I have and am experiencing, as we all can. Hence I am getting £80 allowances for holidays and £50 contingencies.
In addition I would never advocate simply making up expenditure to use up income. My point is that there are very many catagories of expenses which many people may miss. There are also allowances which can be used. My simple point is know what you can claim and how much and if these are part of your usual expenditure then use them. Haircuts and dry cleaning for instance are great examples.
Steve Thatcher
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 16 January 2010 : 08:19:40
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If you don't use the allowances, then you shouldn't claim for them. For example, I would never claim for dry cleaning as I never use it.
You should always be honest and put down exactly what you spend.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Jane.l
Average Member
511 Posts |
Posted - 16 January 2010 : 10:40:25
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Contingencies have never been allowed in bankruptcy and as the IS is tightening up their allowances, I cannot see these being allowed in the future  |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 16 January 2010 : 10:43:08
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Hi again,
Just to endorse what Kallis has said about honesty.
Remember the OR is an officer of the court and thus has powers that are very wideranging. Do not give him/her anything to catch you out on - you do not want a BRU or to risk (albeit quite rare) the discharge being suspended indefinately!
This does happen and I am aware that in exceptional cases where an OR has been ignored that a period of indefinate suspension can mean just that - years and years...
Good luck, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
Edited by - Housing on 16 January 2010 11:05:29 |
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debtinfo
forum expert
2826 Posts |
Posted - 16 January 2010 : 10:55:39
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| I can tell you from personal experience that if someones income exactly matches their outgoings or the their outgoings exactly match the recomended guidelines, that the examiner will look just that little bit closer at the figures |
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leen.ow
Starting Member
31 Posts |
Posted - 16 January 2010 : 11:03:20
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Indefinite suspension? BRUs? Scary times! I certainly don't intend to be dishonest (I have seen a photo of my local OR and he looks like the demon headmaster) I just want fair expenses to be allowed. Like I keep saying, my only real concern is whether he will allow my £271 HP payment as something I can deduct from my I&E, it would be useful to know this before I go BR so if not I can sort out an old banger. Would I be able to email the OR direct and pick his brains? Or is it a case of just go BR and see what happens?
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 16 January 2010 : 11:07:38
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Hi
Sorry I did not want to scare you - was simply pointing out how some ORs can view things in a worst case scenario.
I wish you good luck and I am sure things will be OK. Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
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debtinfo
forum expert
2826 Posts |
Posted - 16 January 2010 : 11:52:23
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| The OR will not tell you what would happen before a bankruptcy, they are not allowed to give advice, and certainly not advice that might affect your decision as to wether to go bankrupt or not |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 16 January 2010 : 12:39:34
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Just re-read the thread - the OR is not allowed to give you advice I am afraid. He is an officer of the court and, as such, has the interests of the creditors at heart. Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
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RHB
Senior Member
1159 Posts |
Posted - 16 January 2010 : 13:18:21
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| 271 pounds is quite a substancial sum to allow, would you still have disposable income left after that payment & your bills etc to fund an IPA? |
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leen.ow
Starting Member
31 Posts |
Posted - 16 January 2010 : 13:24:05
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Yes, after all is taken off, including the car payment, I would have about £400 DI
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RHB
Senior Member
1159 Posts |
Posted - 16 January 2010 : 14:31:24
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| I suppose if you need such a car for work & in order to pay a more sizeable IPA you may find an OR might exempt it but you wouldn't know before you went BR. |
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debtinfo
forum expert
2826 Posts |
Posted - 16 January 2010 : 14:52:44
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| I think that it would be much more in the OR's interest to give you a few months before starting the IPA. With £671 DI (not including the car payment) you could could save in first 4 months and buy a car and then the OR gets a bigger IPA for 36 months |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 16 January 2010 : 15:15:24
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Lee, thank you for your kind words about my blog - I missed them when I first read your posts!
One question - have you taken professional advice? The reason I'm asking is that looking at you DI you may be able to do a DMP and pay back your debt in less than 5 years, which would save you having BR on your credit history.
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/
30 IPA payments made, 6 to go - the end is in sight! |
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I have been running away from large debts
