please help! cant cope anymore!

homealone_2

seen as you do have an income other than benfits at the moment(you said you dont know for how long) this will mostly go towards an IPA which is an income payment agreement which will take a percentage of this money to pay your creditors for 36mths. but as soon as this stops contact the OR and your payments will be ajusted.


must be really dim or have blinkers on somewhere as i had no idea about paying an IPA, my income is £386.24 approx so how much do you think they will take from that. plus am almost 100% certain that they will class my DLA as income, it has been double checked for me so in that case i will have an income of approx £654 per month so how much of that do you think will go on an IPA, will it be as much as DMP (£509) or IVA (£594). let me just check my facts are straight once and for all so i dont confuse myself further. the DMP is a definite no no as that will take 8 years 3 months. with the IVA i could still pay as much as the DMP but i will be able to keep my £3000 isa and all debts will be written off after 3 years, even though i will need to pay £7,500 set up and admin fees where as if i go BR i will still pay much the same as the others on a monthly basis, will lose £3000 isa but no set up fees and will be debt free after one year. have i got all that straight??

dalip

I would hazard a guess tha an IPA would be in the region of £250 a month(please correct me dee if that is wrong;) ) for 36mths. Bear in mind this can be suspended if your circumstance change. For any months that an IPA are suspended they still count towards the 36. So in theory you could pay one months,then have your IPA suspended for the following 35 months and still be finished at the same time.

You are correct on what you say above but i was under the impression an IVA lasted for 5 yeas not 3

lisamummytoarchieplusbump

homealone wrote: »

disability living allowance for me £268
disability living allowance for son - this certainly should not be included in your income.
incapacity allowance £404
child tax credit £390 a month
housing benefit £507
child benefit £81 per month


have filled in missing amounts for you RAS have also just rung DLA for advice and they said

"no matter what my DLA should not be counted as income. even if i were to win the lottery tomorrow i would still be disabled and would still receive benefit, it is to be used in addition to your income to help with every day needs that arise due to your disability"

this amount makes all the difference in their figures as to whether they recommended an IVA or bankruptcy. but i seem to remember them saying that they did count it as income no matter what??? has anyone else had any experience regarding DLA being used as income?????

i think if you ring the insolvency agency and ask them directly as going by what you said it wouldnt be classed as income but IVA and DMP class things differently as they was saying i had to use my childbenefit for a DMP even when i explained that its my childrens money not mine.

so im thinking that if you are on benefits and that is what the govenment says you need to live on then they cant touch it, i know im on benefits.
so should only be your extra income from work and it will be up to 70%

i have pm you before about the isa that it doesnt make sence for you to go into a IVA that costs £7500 to set up just to save £3000 in investments?!?!?

a DMP allowences are much tighter than br so you will be scrapping by as there aim is to get as much money to pay creditors

so basicly they will only take upto 70% of your work income of £386.24 someone on here has a IPA calculator you will only pay this for 36months (3yrs) and then be debt free. but if you income does drop ie work stops paying you then you will contact the OR and they will recalculate your IPA. yes you will loss the £3000 isa but in 3yrs with all your debt gone and even stashing some each week you will have alot more than that by 3yrs time so trying to do an IVA or DMP just to save it will make you alot worse off a month

lisa

homealone_2

thanks for all your help, you must all be sick of me by now. i never realised just how much was involved before. just when i think i get a handle on it someone mentions something else in passing, like the IPA and i think oh hang on a minute i didnt know about that bit, must not have looked very closely but i cant remember many threads talking about an IPA when talking about their bankruptcy. still not sure if they take a portion of the income i receive from my ex employers or whether they take it from my entire monies received including benefit? considering inland revenue who i owe the most too have not said a peep which leaves only 2 serious creditors and i am only a month behind with them! i could paper half of my bathroom with the letters i have received and dont even get me started with all the calls. god only knows how some of you manage that have more than 2 creditors to deal with? well dont remember who i have told but i am going to be away all of next week, so i dont know how much, if anything i will get to do on all this over the weekend so it will need to wait. i just have to get away for a while and try and figure out my next move,. the hospital were not too pleased when i couldnt go for this emergency scan on monday but i cant see one week making that much difference. no doubt while i am away i will still pop on and if i do get to talk to anyone else i will post what happens. but like you all have said bankruptcy appears to be the best solution, now if only i could get it out of my head that they wont laugh when they see my SOA or ask for so much money every month for this IPA i would still be really struggling, i would be fine, i hope anyone due in court this week sails through it, i will be thinking of you all

tigerfeet2006

An IPA is only set on your earnings it won't be set on your benefits especially the DLA

This is from the Bankruptcy Help sticky at the top of the board.

Income Payment Agreements/Orders.

• IPO / IPA (Income Payment Orders and Income Payment Agreements) (IS)
• FAQ - Income Payment Orders / Agreements ( IPO / IPA ) (IS)
• OR's Case Help Manual - Income Payments Agreements (IS)
• OR's Case Help Manual - Income Payments Orders (IS)
• OR's Technical Manual - IPAs Assessment of real disposable income (IS)
• Nil tax (NT) coding/IPAs (MSE)
• Income Payments Calculator (Excel spreadsheet) (IS)

I am another one on here who has been through those health issues, so understand completely. Hope it all goes well for you. It is more important that you get this sorted before anything else. We will be thinking of you.

ampersand

homealone wrote: »

thanks for all your help, you must all be sick of me by now. i never realised just how much was involved before. just when i think i get a handle on it someone mentions something else in passing, like the IPA and i think oh hang on a minute i didnt know about that bit, must not have looked very closely but i cant remember many threads talking about an IPA when talking about their bankruptcy. still not sure if they take a portion of the income i receive from my ex employers or whether they take it from my entire monies received including benefit? considering inland revenue who i owe the most too have not said a peep which leaves only 2 serious creditors and i am only a month behind with them! i could paper half of my bathroom with the letters i have received and dont even get me started with all the calls. god only knows how some of you manage that have more than 2 creditors to deal with? well dont remember who i have told but i am going to be away all of next week, so i dont know how much, if anything i will get to do on all this over the weekend so it will need to wait. i just have to get away for a while and try and figure out my next move,. the hospital were not too pleased when i couldnt go for this emergency scan on monday but i cant see one week making that much difference. no doubt while i am away i will still pop on and if i do get to talk to anyone else i will post what happens. but like you all have said bankruptcy appears to be the best solution, now if only i could get it out of my head that they wont laugh when they see my SOA or ask for so much money every month for this IPA i would still be really struggling, i would be fine, i hope anyone due in court this week sails through it, i will be thinking of you all

#####
Hello ha - I'm still looking for mot's ' have job! post' and now find yours - dear lady, I'm afraid I am now on your case as an interfering old bat, all for you.

Yes, you MUST PHONE CAP TODAY.

PLEASE PLEASE PLEASE, CHUCK AWAY ANY PREJUDICE ABOUT DOING SO WITH THE SAME DISPATCH THAT YOUR HUSBAND HAS SHOWN TOWARDS YOU.

What happened at Hospital?

I now align myself with your supporters on here and use the royal 'we' in saying we need an update from you.

But let it include the result of your call with CAP.

You are already punctuating my thoughts today.

Soft hugs.

homealone_2

hello all, hope you are all keeping well. i have just come back from holiday taken a huge step over my post!! one was hard to step over as it was 2 feet tall i cant even lift it!! i did ask DWP to send me details of how after knowing i was in receipt of an £8000 tax credit overpayment in 2003 from them, how did they figure out i now owe £15,500 as they seem to think i have been overpaid every year since when i was under impression i had not been entitled to any money for years. well judging by the size of this paecel they must have included every conversation since 2003 and then some. but reading that will have to wait till i am up to some light reading.lol. i would love to say the break away did me good but i was very ill the whole time i was away. it started with the whole left hand side of my face being swollen and very sore was not sure if it was a particular tooth causing thee problem as it was the whole top and bottom jaw and gums. evetually that subsided and i then got a terrrible bout of flu which i still have with an awful hacking cough. then on way home the entire right hand side of my face developed same problem as left and am sat here in agony. i dont know how many of you know all the trouble i have had with my teeth since starting morphine a few years ago. dentist has now referred me to a dental hospital as i am there almost every week with a problem and she seems to have to keep patching me up but with no real effect. trouble is appointment is not till 26th feb and the way i feel now i dont know if i can wait. the hospital she has referred me to does operate an out of hours service which i am seriously considering at moment, although am unsure of what they can do. all of this has kept me pretty occupied but have still laid awake thinking over my financial dilema. more charges are building up and i now need to stop dithering, make a decision and get acting upon it. weighing things up pound for pound and bearing in mind advice i have been given i feel bankruptcy is the only route for me so will ring CAP as so many have advised tomorrow and take it from there. i will be back on to post tomorrow after i have spoken to them. hopefully wont be spending day at dentists!! and i thought flu jabs stopped you from getting flu so dont know how i managed to still get it. may be laid up couple of days with illnesses but will still try and do what i can. i cant go on avoiding answering phone in case it leads to another £10 letter from the bank so i need to get on with it. have a good night all and good luck to anyone due in court tomorrow, will be back tomorrow

haleygrey

:A hi ha, glad that you're back but sorry to hear that you havent been well. off to be with you now and get as much rest as possible so that you are strong enought to do some more tackling tomorrow. DONT FORGET TO CONTACT CAP!

ampersand

Haleygrey is saying it all in that last sentence, homealone.

Someone else has taken that big step today - well done x, you know who you are.

When any one of us writes ' You're not alone' or 'We're all with you/thinking of you/behind you' it is not mere verbiage. They are all true, felt thoughts, so please let them accompany you in strength tonight, THEN PHONE FIRST THING TOMORROW -0800 328 0006 for CAP.
Let us know how things go.

homealone_2

yes, as soon as i can muster byself together (feeling so crap) i will ring cap and get back to you all. have just been checking out tips for toothaches and one says that if it is a real general jaw sort of not what sure tooth it is kind of thing cos they all hurt including gums could be related to sinus. now that could be the problem as this flu is yuck and blowing my nose is not a pleasant experience, if you know what i mean!! so maybe its that causing the pain as it does seem weird had exact same pain last week but on left side. so lying here now covered in vick hoping it will achieve something. so when feeling bit more normal tomorrow will dig out all paperwork and start again!! thanks everyone