OR wanting to take 80% of excess income. Can anyone help?

cuddlymarm

Hi

We have recently moved house so have had to redo our allowances with the OR. He has come back with a figure that is taking 80% of our excess income. OH does have a good job but when we have been looking at the Insolvency website it only says that it will take up to 70%. Can he do this or is he just trying it on and seeing if we pay? Has anyone else had to pay this ammount?

Any advice would be good? We are not greedy people and had fought not going BK all the way but this just seems unfair. They say that they are not punishing you but then this feels like they are.

Thanks in advance for any help
Cuddles

fiveyearplan

I'd ask for comments on your SOA and if you're not happy don't sign anything.

cuddlymarm

Bump:rotfl:

nervousmother

You need to know for sure if he is taking 80% or could it be he has not allowed for something?
Ask him how he has got to that figure so you have it in writing, at that point you can say you dont agree..

cuddlymarm

Hi again

Thanks for the replys

He has written in his reply that he wants to take 80%
If we don't agree who will have the final say on whether its fair?

Thanks again
Cuddles

JCS1

If you don't agree to the IPA, then ultimately it can go to court for a judge to decide.

Ask the OR for his calculations - should be an excel spreadsheet that he has to use .

Rosey321

I have never heard of anything more than 70% being asked.

Has your rent gone up? If so, I'm just wondering if they are taking the opinion that you could have got by on a lower rent house, therefore although your disposal income may be lower due to a higher rent, they might still want the same share as before.

Will be interesting to find out - we are about to move and I need to declare our rent is about to increase as well !

cuddlymarm

Hi Rosey

We have moved into a higher rent house because we have had to move nearer London with OHs job (we checked it was OK before we did it with the OR and we haven't a choice because it would have meant commuting 2 hours each way every day otherwise.)
We have looked on the Insovancy website and also on the firm that is dealing with our insolvancy and thery all say 70% as maximum contribution.
Its just frustrating that we have tried so hard. OH went and got a job when our business was struggling (even though it is down the other end of the country) and now I have also moved to him now the business has gone. Its just another stress I suppose. We've lost everything, moved away from our family, and are trying to rebuild. Sorry just feeling a bit glum this morning.

On the up side I've got an interview next week so you never know things might be on the up

Better go
Cuddles

Addicted2Chocolate

What do you mean by the 'firm dealing with our insolvency'? Is the the OR asking for the IPA? Or an insolvency practitioner as Trustee?
Id the OR write back asking for a full breakdown of the figures they have allowed and how the final figure calcualated.

cuddlymarm wrote: »

Hi Rosey

We have looked on the Insovancy website and also on the firm that is dealing with our insolvancy and thery all say 70% as maximum contribution.
Cuddles

cuddlymarm

Hi

We've got a trustee. OH went BK last July but it took them until November to pass us on to an Insolvancy Practicioner. We agreed an ammount (which was quite reasonable) but always knew that OHs job was going to relocate (and we kept them informed and OKd the rent with them before we took the flat)
OH has now replied to there letter. They queried the rent, the fact that I'm not contributing and his travel expenses and said that thay wanted to take 80% of anything after allowed expenses. I haven't got a job yet and we've moved as near to Marks work as we can afford. (Its a lot more expensive now we are living within commuter distance to London)
He's queried that they want 80% because 70% seems to be the maximum ammount on all the advice sites (including their own )

We'll just have to wait and see what they come up with
Cuddles

Addicted2Chocolate

OK, the Insolvency Practitioner is not bound by the rules set down on the Insolvency Service website. The information on the insolvency service site applies to cases where the OR is Trustee. You said in your Original post that the OR wanted 80% of the excess income, which is not the case, an Insolvency Practitioner is seeking 80% of the surplus.
Anyway, I would still do the same, decline to consent and say how much you think you can afford.