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Will I get A IPO cant fathom out the rules
Holes_in_my_pocket
Posts: 1,494 Forumite
Would like to no where if possible where i stand with the surplas income rule which i have copied and pasted below with the following incomes:
War pension State Benefit £488
Incapacity State benefit £404
Post Office Pension £279
I will have a surplas of £170 a month will i have to pay all that in a IPO
Whilst an IPA should not be sought where the bankrupt's only source of income is state benefit [note 3], the official receiver should not automatically discount the possibility of obtaining a contribution from a bankrupt who has surplus income but is also in receipt of benefit. Any calculation to identify surplus income should include all available income, including state benefits, paid to an individual for the general benefit of that individual and their family. This includes child tax credit, which is also a state benefit and comprises part of the income available to the bankrupt and his/her family, against which an IPA can be calculated. The person making the income and expenditure calculation (usually the examiner) should initially ascertain whether the bankrupt is also in receipt of non-benefit income. If this is the case, an IPA should be considered, the total income should be established (see other income sources at paragraph 31.7.7) and the bankrupt's reasonable expenses deducted (see paragraph 31.7.19) to cover his/her reasonable domestic needs. An assessment can then be made as to whether the bankrupt is in receipt of surplus income. If an IPA is to be sought, any surplus should be less than or equal to income from the source other than benefits. It should be remembered that whilst the bankrupt's total income (including state benefits) should be included in the calculation of surplus income, it is the income from sources other than the benefit(s) which is providing the payments under the IPA/IPO, which is why an IPA should only be sought to the extent of the non benefit income.
War pension State Benefit £488
Incapacity State benefit £404
Post Office Pension £279
I will have a surplas of £170 a month will i have to pay all that in a IPO
Whilst an IPA should not be sought where the bankrupt's only source of income is state benefit [note 3], the official receiver should not automatically discount the possibility of obtaining a contribution from a bankrupt who has surplus income but is also in receipt of benefit. Any calculation to identify surplus income should include all available income, including state benefits, paid to an individual for the general benefit of that individual and their family. This includes child tax credit, which is also a state benefit and comprises part of the income available to the bankrupt and his/her family, against which an IPA can be calculated. The person making the income and expenditure calculation (usually the examiner) should initially ascertain whether the bankrupt is also in receipt of non-benefit income. If this is the case, an IPA should be considered, the total income should be established (see other income sources at paragraph 31.7.7) and the bankrupt's reasonable expenses deducted (see paragraph 31.7.19) to cover his/her reasonable domestic needs. An assessment can then be made as to whether the bankrupt is in receipt of surplus income. If an IPA is to be sought, any surplus should be less than or equal to income from the source other than benefits. It should be remembered that whilst the bankrupt's total income (including state benefits) should be included in the calculation of surplus income, it is the income from sources other than the benefit(s) which is providing the payments under the IPA/IPO, which is why an IPA should only be sought to the extent of the non benefit income.
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Comments
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Wow that is incredibly badly worded!
My take is this -
All income is taken into account when completing you SOA. When all reasonable expenses is taken out the OR can look at left over income for purposes of IPA. Any payments you thereafter make come from your income but not your benefits.
IE: the £170 you may have to pay will come from your pension, not from your state benefits. - effectively they are trying to say that they will be taking the money from your pension not your benefits - but does it really matter, they still taking it!!
I think thats what they trying to say !?!
Tim
You tried your best and you failed miserably. The lesson is 'never try';)
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And its means-tested benefits that are NOT taken into account. (JSA or income support for example - under those circumstances, no other benefits such as child tax credit will then be taken into account either)
If you have a surplus of £170 a month, post up a SOA detailing your circumstances and full outgoings (just so that any new people don't have to trawl through posts to find out). We can spend some of that for you.
You are unlikely to get an IPA based on your income, but a jobsworth OR may say otherwise - thats why we need to sort out your SOA to get less surplus; its just less potential hassle later on.0 -
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 279
Partners monthly income after tax....... 0
Benefits................................ 893
Other income............................ 0
Total monthly income.................... 1172
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 195
Clothing................................ 70
Petrol/diesel........................... 90
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 12
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Gym (GP Letter)......................... 40
Board................................... 200
Child maintence......................... 150
Total monthly expenses.................. 972
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Lloyds.........................9300......323.......0
Abbey..........................5322......192.......0
tesco..........................3000......30........0
Yes Car........................6040......142.......0
Capitalone.....................1000......10........0
Mastercard ....................3000......30........0
Barclycard.....................3000......30........0
M&S............................3000......30........0
Total unsecured debts..........33662.....787.......-
Monthly Budget Summary
Total monthly income.................... 1,172
Expenses (including HP & secured debts). 972
Available for debt repayments........... 200
Monthly UNsecured debt repayments....... 787
Amount short for making debt repayments. -587
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -33,662
Net Assets.............................. -33,662
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.0 -
GYM and Clothing trying to get GP letter no rent utilities paying board0
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Holes_in_my_pocket wrote: »Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 279
Partners monthly income after tax....... 0
Benefits................................ 893
Other income............................ 0 You live with your Dad now?? (Sorry if wrong, I read so much!!) So they may query his contribution.
Total monthly income.................... 1172
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0 £330 for "keep" to include utilities
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 195 This is acceptable for a single person. But as its close, up it to £210.
Clothing................................ 70
Petrol/diesel........................... 90 You have no other car costs though? Like ins and tax?
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 0 I thought I read you had pets? Add £10 here anyway (proof is not normally asked for).
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20 You may not be allowed this. Keep it anyway.
Haircuts................................ 12
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Gym (GP Letter)......................... 40
Board................................... 200 Oooh - I see that its here and not in rent now. Up it though - £330 a month is still considerably less that you would pay for these privately for even a bedsit somewhere. £82is pw
Child maintence......................... 150 Is this CSA? Or the same amount as CSA would work it out to be?
Total monthly expenses.................. 972 1127
That leaves a surplus of about £36.
As you are mainly on benefits and a pension, you just want an SOA that balances enough so that hopefully they won't look at it too deeply. Never any guarantees though (Never are in BR), but hopefully it will keep them interested in someone else!
*IF* you do have to pay an IPA, then its 50% of any surplus over £99 as a starting point. And these are flexible, so if your circumstances change so will your SOA and IPA.
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(mobility car tax & insurance are all inclusive as part of the lease)We all die. The goal isn't to live forever, the goal is to create something that will0
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philnicandamy wrote: »(mobility car tax & insurance are all inclusive as part of the lease)
Ta!!
(Too short - 10 characters)0 -
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maintenace by court order not through csa0
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problem is i sleep on my fathers sofa and have down for 3 yrs and he gets housing benefit0
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