Bankruptacy or charging order

blind-as-a-bat_2

Queen wrote: »

sorry to sound a bit thick but we both would need to g BR biggest debt in joint names, £120 child benefit leaving a surplus of £238 how much would they take from this for a IPA

It would depend on how that surplus fell against your incomes

But worst case if it fell at 50/50, that is you had £120 surplus and so did your OH then it would equate to £120

But if it fell that your surplus was £99 and your OH was £139 then you would only pay £70

Its hard for me to predict how it will work out, or what your OR may allow on your I&E, if you get a realy nice OR you may not pay anthing as its that close

But remember i have increased and added things to your I&E so you will still be better of than you are now

Queen

surplus being approx £208 from your I&E would the OR take all of this for IPA

blind-as-a-bat_2

Queen wrote: »

sorry should be a surplus of £208 n0t £238

I missed that too, but you can get the idea from my post, but there is a good chance you may not get one at all, but it should br no more than £70-80

As long as your OR doesnt reduce anything, which whith the figures i used in the second I&E they shouldnt, i cant guarentee that though but its unlikely

blind-as-a-bat_2

Queen wrote: »

surplus being approx £208 from your I&E would the OR take all of this for IPA

No just a percentage

fiveyearplan

and if your circumstances change the IPA can go up, down or be dissolved altogether.

Queen

Hi if there is a surplus of approx £208 how much of a % would they set as a IPA?

blind-as-a-bat_2

50%



Heres the codenced scale

Queen

Hi thanks for the scale, still very undecided what to do we have appointment today with the consultant see how that goes, employer has written asking for OH to attend disaplinery meeting tomorrow and I have ha dlots of calls today fom creditors advising that even though they accepted a token payment of £1.00 they now can only accept £10 to stop account going to debt collector have a telephone appointment with cccs on Thursday my head is whizzing and feel so sick from stress

Queen

Hi, can someone tell me what the actual process of BR is after going to court, still worried if they will let us keep the car value approx £2750 but needs this for work

blind-as-a-bat_2

The deciding what route to take is a hard bit, i remember feeling much the same as you discribe, even though i had no house or car to complicate the issue, it still took some getting my head around.

In answer to your car question, if the BR is working and needs the car so they can continue working then in most cases it is treated as wxempt, but if it is of too hi a value, even if exempt they may still take it, but are supposed to give you some cash back to buy another, cheaper car.

No one can predict if they will exempt it though, even though it sounds like they should, i can quote you the quidelinss that say so, but that doesnt mean the OR will follow them im afraid as each case is treated on its own merits.

But if your OR follows the letter of the guide then you should not be left without a car, but i cant guarentee that im afraid