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  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 5th Nov 12, 5:58 PM
    • 8,879Posts
    • 21,291Thanks
    MSE Andrea
    Ask a StepChange (formerly CCCS) counsellor a bankruptcy question
    • #1
    • 5th Nov 12, 5:58 PM
    Ask a StepChange (formerly CCCS) counsellor a bankruptcy question 5th Nov 12 at 5:58 PM
    StepChange Debt Charity (formerly CCCS) has several counsellors answering questions in our forum.

    There are three ways to contact them:

    1 - To ask them a question please post it below and Allen, Linsi, Kirsty Rachael or Richard will post a reply here.

    2 - If you would prefer to ask a question in private you can send a private message to StepChange Private Messages and one of the counsellors will get back to you.

    3 Ė StepChange Debt Remedy is a free and confidential online debt advice tool. You can put a budget together at your pace, and you can also talk it over with an advisor through online chat.

    This thread continues from the previous Ask a counsellor a question thread one
    Last edited by MSE Andrea; 14-12-2016 at 1:40 PM.
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Page 62
    • $izzle$
    • By $izzle$ 9th Jan 18, 9:30 PM
    • 12 Posts
    • 1 Thanks
    $izzle$
    Thank you very much for your help.
    I have sent the query off to The Insolvency Service as suggested.
    • Bluehat1
    • By Bluehat1 16th Jan 18, 6:57 PM
    • 2 Posts
    • 0 Thanks
    Bluehat1
    Considering bankruptcy.Debts are around 45k,all on credit cards. I now have more money going out than coming in,even just paying minimum amounts.
    My income is from State benefits (pip,esa and housing benefit) plus a small personal pension.
    Having done an SOA,I would have a few hundred pounds surplus every month in bankruptcy.
    Could this money be taken from me as an IPA,even though it is Disability related?
  • StepChange_Linsi
    Hello

    Thanks for your post and welcome to the forum.

    When going bankrupt all income needs to be declared but disability living allowance (DLA), attendance allowance (AA) and personal independence payment (PIP) are not counted as income when working out an IPA. Other state benefits and pensions are classed as income when working out an IPA.

    If you receive state benefits along with another non-benefit income (such as a private pension), an IPA can be made. Having said this, the IPA amount must not exceed the non-benefit income.

    You can apply to go bankrupt through the GOV.UK website. If you get stuck completing the application or if you have any questions about the information you need to provide you can call the Insolvency Service Helpline on 0300 678 0015.

    Before you make a decision Iíd also recommend you use our online Debt Remedy tool, just to make sure bankruptcy is the right solution for you. Itís free to use and takes about 20 minutes to complete Hereís the link.

    I hope this helps,

    Linsi


    Considering bankruptcy.Debts are around 45k,all on credit cards. I now have more money going out than coming in,even just paying minimum amounts.
    My income is from State benefits (pip,esa and housing benefit) plus a small personal pension.
    Having done an SOA,I would have a few hundred pounds surplus every month in bankruptcy.
    Could this money be taken from me as an IPA,even though it is Disability related?
    Originally posted by Bluehat1
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Littlealfiesmum
    • By Littlealfiesmum 23rd Jan 18, 7:45 AM
    • 2 Posts
    • 0 Thanks
    Littlealfiesmum
    Bankruptcy advice needed
    Hi my partner is about to declare bankruptcy because of a failed IVA he has debts from a period of ill health

    His current employment contract has ended & due to a period of unstable MH he is now reviewing PIP & focusing on recovery before attempting Work again
    He has 2 children he pays CM for.

    My question is how long do the payment plans after bankruptcy last?

    Weíre getting married & I would like to move house (house is mine) & in the next year or 2 would like a baby meaning household expenses would be paid more by him as Iíd be on maternity. I guess I am anxious about moving & struggling to pay because of all the extra money going on the payment plan.

    Heís signed off work for the next month & will be signed off again due to having surgery & his MHso will this effect any payment plans?
  • StepChange_Rachael
    Hi

    Thanks for your post and welcome to the forum.

    Iím sorry to hear your partner is going through a difficult time at the moment.

    Once a bankruptcy petition is made the Official Receiver (OR) can set an income payment arrangement (IPA) for up to 3 years. This will usually happen when the household budget shows there is more than £20 a month available at the end of the month. This would be set as a monthly payment towards the bankruptcy.

    If there are changes in your partnerís financial situation and an IPA is set then your partner would need to contact the OR and discuss these changes.

    If your partner hasnít already then Iíd suggest getting free and impartial third party advice before submitting the petition. Especially as youíve mentioned you own a property. Itís possible the OR may want to check for any beneficial interest that your partner may have if you live together.

    You or your partner could also contact the Insolvency Service. They should be able to answer questions about bankruptcy in more detail so youíll have a good idea of how changes would affect an IPA based on your partners situation.

    Take care
    Rachael





    Hi my partner is about to declare bankruptcy because of a failed IVA he has debts from a period of ill health

    His current employment contract has ended & due to a period of unstable MH he is now reviewing PIP & focusing on recovery before attempting Work again
    He has 2 children he pays CM for.

    My question is how long do the payment plans after bankruptcy last?

    Weíre getting married & I would like to move house (house is mine) & in the next year or 2 would like a baby meaning household expenses would be paid more by him as Iíd be on maternity. I guess I am anxious about moving & struggling to pay because of all the extra money going on the payment plan.

    Heís signed off work for the next month & will be signed off again due to having surgery & his MHso will this effect any payment plans?
    Originally posted by Littlealfiesmum
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Littlealfiesmum
    • By Littlealfiesmum 23rd Jan 18, 9:13 AM
    • 2 Posts
    • 0 Thanks
    Littlealfiesmum
    Thank you, we don't currently live together and wont until the wedding in March 2018. Hoping to get this all sorted before then, we're running out of time I know but the house is mine and i've owned it since 2006. He will move in with me after the wedding.
    • pinkmum3
    • By pinkmum3 23rd Jan 18, 6:05 PM
    • 1 Posts
    • 0 Thanks
    pinkmum3
    Help! I'm scared
    Hi I'm looking for some support and advice please. I'm a single mum in approximately £25000 debt on credit cards. Atleast £10000 of this is due to me being stupid and letting an ex boyfriend put credit in my name. The rest is probably down to me trying to juggle things on my own without any maintenance from the kids father. I've tried until now to stay on top of things and am not in any arrears as yet, but I'm thinking I can't do this much longer. If I'd done it way back when I first looked into it I'd be discharged by now, but I keep trying to give it another go and keep plodding on. I first and foremost am scared about people knocking on my door, etc and keeping a roof over our heads. Second to that I've been trying to maintain a good credit rating as I rent privately, but to be perfectly honest that hasn't helped me at all anyway as the minute agents find out I get top up benefits and have pets they don't want to know anyway. Btw I am working. My rent at the moment is quite steep and as I said I've been unable to find anywhere cheaper, but if I was to take this step I'd be ok to stay on here. I'm just so scared of the prospect of doing this and feel like such a failure. If I was to go ahead I'd have to send token payments until I'd managed to save up the fee. I'm so mad that without the ex's debt I'd be able to do a DRO instead, but not sure that's any better at the end of the day. StepChange tool thingy has advised that bankruptcy is the way to go.
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