Advice please

MagicWriter2003

I was made bankrupt in December 2009, in Scotland, through the low income rule and am unsure of a few things. The main one is that my partner of nearly 4 years would like me to move in with him in the next few months but I am unsure of whether we would be better waiting until after my bankruptcy is over as I do not want him to become liable for any of my debts (all made before I met him). Has anyone else been in a similar position?

tigerfeet2006

He will not be liable at all for any of your debts but obviously moving in with him will change your SOA. I am not sure if you have something like an IPA with a LILA.

I will PM one of the Scottish members to give you some help.

Welcome to the board by the way

MagicWriter2003

Thanks for you help Tigerfeet, but what are SOA, IPA and LILA?

Merry_Gentry

SOA - Statement of Affairs

tigerfeet2006

MagicWriter2003 wrote: »

Thanks for you help Tigerfeet, but what are SOA, IPA and LILA?

SOA= Statement of Affairs (your incomings and outgoing.)

IPA=Income Payment Agreement (in the UK if you have more than £99 surplus after your SOA has been agreed then you pay a % of that surplus to the OR in an IPA)

LILA= Low Income Low Assests (the thing that you have gone through.)

Hopefully Cait will be able to explain some of the implications to you when she see's my message.

MagicWriter2003

Thanks for all your help!

fiveyearplan

MagicWriter2003 wrote: »

I was made bankrupt in December 2009,

Are you sure?

MagicWriter2003

Am I sure of what????????????

Merry_Gentry

It says you were made bankrupt in December 2009 - unless you have a time machine, do you mean 2008??

LilyBart

If magicwriter had a time-machine, he/she would either be a multi-millionaire or have been kidnapped by the CIA by now! If I'm wrong, please can I have a go at time-travelling? I can think of a few situations in the past I would like to have handled differently, then there's the wrinkles, the middle-aged spread....

coolcait

MagicWriter2003 wrote: »

I was made bankrupt in December 2009, in Scotland, through the low income rule and am unsure of a few things. The main one is that my partner of nearly 4 years would like me to move in with him in the next few months but I am unsure of whether we would be better waiting until after my bankruptcy is over as I do not want him to become liable for any of my debts (all made before I met him). Has anyone else been in a similar position?

Hiya MW

I'm really sorry to you and tigerfeet that I haven't answered you before now:o . I wanted to double check a couple of things with a friend first. If I'd known it would take so long, I'd have just posted, lol!

Like tiger says, your partner would not become liable for any of your debts if you move in with him. And he won't be expected to make any payments towards them. So he's not going to be affected directly. I hope that helps put your mind at rest on that one.

Moving in with him might affect you, however (in terms of your bankruptcy!). It could change the amount you are spending on things like housekeeping, for example. And that could affect whether or not you have to pay a contribution (IPA), and how much it will be. Are you paying anything at the moment?

If you are only receving benefits, then you can't be asked to pay a contribution anyway. But if you're earning a wage, plus getting benefits, then it's possible that the Accountant in Bankruptcy might ask you for a contribution if your circumstances change.

It all depends how much you've got coming in. If your case is 'pure' LILA, and you're earning less than the minimum wage, it's fairly unlikely that you'd be expected to pay anything - even if you do move in with your partner.

The best thing to do (and I'm echoing tiger again) is to post your SoA at the moment. That will help give us a better idea of what's coming in and going out (and the people on here are excellent at spotting the things which it's so easy to miss out when you're trying to remember what you spend each month!).

HTH