A year in the life of my BR.

JCS1

Either wait and see if they suggest and IPA, and if they do, amend your figures then.

Or if it would make you feel more comfortable, then email them a replacement. Back with a link that should give you contact details for your OR so you can phone them for email address.

Click on your OR's office and it should give you contact details. Phone the front desk and ask for email address of either your Case Clerk or Examiner.

http://www.insolvency-service.co.uk/officemap.htm

ANewEra

Thanks JCS1, sometimes I get all panicy and just need some sound advise like that! I will see if they ask for IPA, then amend if necessary - I pressume I would have that chance?
There is no point panicing now if they are not going to do that anyway.
One other thing - IF you get a IPA, do I pay them by DD or SO or similar, or do they get it taken from your wages? I really don't want my work to find out if possible - it's not a huge problem, as I don't work under the FSA ( I used to, before I left with PND - it's true, there are good things that come from bad, as I would have lost that job through BR wouldn't i?)

JCS1

ANewEra wrote: »

Thanks JCS1, sometimes I get all panicy and just need some sound advise like that! I will see if they ask for IPA, then amend if necessary - I pressume I would have that chance?
There is no point panicing now if they are not going to do that anyway.
One other thing - IF you get a IPA, do I pay them by DD or SO or similar, or do they get it taken from your wages? I really don't want my work to find out if possible - it's not a huge problem, as I don't work under the FSA ( I used to, before I left with PND - it's true, there are good things that come from bad, as I would have lost that job through BR wouldn't i?)

Can pay for DD or SO. Doesn't come out of your wages.

You may get a Nil Tax Code which would go to your employer (you then don;t pay tax and instead pay the same amount that you would pay in tax to the OR), but the reasons for the change of tax code are confidential between you and HMRC, they won't tell your employer why. You can pay this by DD/SO too

ANewEra

Really? How and why does that happen to some people then? I have not heard about that at all. So you would pay your tax contribution to the OR? I pressume you would just not be taxed, have a big take home pay, BUT have to pay the tax part to the OR?
What circumstances does that happen in? Is it usual?

JCS1

Quite common, tends to happen if you pay more than £50 worth of tax a month. Only lasts for the current tax year (also stops if you change employment). Tend not to bother if you go BR in Feb/Mar, as by time paperwork sorted it's not worth doing.

So if you get an IPA form in the post to sign, it will probably be for a NT Tax code, so check first - I've had a few people on the end of the phone upset in the past as they think it's an IPA for 36 months rather than a Nil tax Code one.

denise123

check figures again, as everyone else has said, this is so important, you have to make sure you do not leave yourself to short, the thoughts of feeling a little guilty over going BR does tend to make some people go short on this and that, just to remove some of the guilt that can happen sometimes.

food is always a good one that can help with that, along with magazines/newspapers/after school club/dentist/presriptions/glasses/contents insurance, [now the time to start thinking? because it will be difficult to replace things] thats all i can think of

good luck and well done once more

xxxx

Margaret54

Hi welcome to the site. There are so many lovely people on here, and the other boards as well of course:) Well done to you, for facing up to everything and you should pat yourself on the back, for doing what you have done. I am sure it must have been so scarey, but you did it afraid, and when you are through all this and you are able to look back on your journey you will feel great. Best wishes xx

AllNancy

ANewEra wrote: »

Thank you everyone for your kind words of support. I'm glad that you can relate to what I say, it's true, it makes you realise that you are not the only one and if others before have got through all this then you can too.

Well, today I posted off the expenditure thing, (when I spoke to the OR on the phone, she said there was a guide to what is accpetable on the internet, but I couldn't find anything and I googled just about everything thing I could think of)

I find it strange that a 'holiday fund' is allowed, yet an 'emergeny fund' is not.

This is what I wrote down:
rent 750 income:
housekeeping 250
electricity dd 62
water dd 23
petrol 250
clothing 30
council tax 132
childcare fees 548
car insurance 38.05
tv licence 11.61
contents ins 10
car breakdown 5
car tax 17
car repairs 30
hair cuts 13
holiday fund 40
1/4 electric 40

---

total 2279.66

income
net wage 1147
child benefit 75.20
child tax credit 604.24
work tax credits 237.16
housing benefit 172.32
child maintanence 200

---

total 2435.32
Although, one thing that I did not say was, I pay the first £243 of childcare from my gross wages, so my net is now £990, then I pay the difference from my wages, so I still have the same childcare costs, but as I am saving paying tax on the first £243 pounds, I probably save about £40 as untaxable. Will the OR know this - will they say this is fraud? OMG, why didn't I just say this to start I would have less stress worrying even if I had less money.

And then when I get home tonight there is a bill from E-on not content with £62 dd for the electricity, there is another £48.75 they want from somewhere! Thank goodness I have a 1/4 electric fund, although whether this is allowed I have yet to find out.
There are some costs that you cannot do anything about, the rent, council tax, petrol etc are all static, but I figure I can try and keep costs down with electric and food, I don't have my water on constantly, I turn it on when I come in from work so I can wash my son, do the washing up and have a shower, and I don't often have the heating on - I have one flat above and two below, so am insulated to a point - if it gets cold I turn them on for a while but I am so obsessed by how much they will cost I am scared to, but I don't want my little boy getting cold, I make him wear big jumpers most of the time!

I forgot to say yesterday, but the day after I went to court, I made an appointment with Barclays in town (and the first person I see behind the counter is my son's friends mum - so glad she was not the person I opened the acc with!!) But the chap I saw was nice and we sorted out a basic cash card acc, and also a instant access savings account, which I have set up a dd for £50pm to go into) I have not declared this on my outgoings, as I figure I can cut some costs on my housekeeping and save it from there if necessary. I was disappointed that they didn't offer internet banking with the acc, as I like to keep a very close eye on it, but then on Monday he rang me to tell me that I could have it - which is only a small thing but it made me feel so much happier!

I'm feeling a bit more positive today - maybe it has something to do with only having 1.5 days left in work this year, I'm so looking forward to the New Year - not the evening, I will be sat here on my own with the little one snoring in bed no doubt - but looking forward to the New Year, new start, and by the end of the year I will be discharged!

IPAs Assessment of Real Disposable Income


Hi,
You might find this useful.


Nancy

ANewEra

Today I received a letter from the Abbey saying that they have frozen my little boy's savings account - I suppose it's as my name is as a trustee on it? It says I can still put money in but not withdraw until the OR has looked into it. Is there any way that they can take this money as an asset? There is about £400 and it's all my son's from various birthday or Christmas gifts, I feel so awful that his savings may be at risk because of my stupidness.

tigerfeet2006

Get on to your OR and get them to un freeze it. Then take it out and put it in an account in your son's name in another Building Society or Bank. Halifax have a habit of doing this.