Just a quick question re. early discharge forms

dottydora

Hello, I just have a quick question if you don't mind.

I'm busy completing the early discharge income and expenditure forms I've been sent. I found the whole process quite easy when I completed the forms pre-bankruptcy, because I followed the advice on this forum. Well in the meantime I have tried to put it behind me and move on and so have subsequently forgotten all the advice!

I just need to know if I put life insurance costs on the forms (as I did pre-bankruptcy) are they allowed or do the costs come out of any surplus?

I hope everyone is keeping well and hope someone knows the answer! Many thanks.:wave:

nervousmother

Yes you can put them on but be aware if anything happens to you the OR will claim 50% of any payout.

glad your moving on.... good luck in getting the ED!!

peachyprice

Unless your circumstances have changed your IPOQ should be the pretty much the same as on your BR forms.

The only thing that will have changed is that they now include child benefit when calculating a surplus for an IPA, if you are in receipt of this make sure you increase children costs to include the full CB amount.

HTH

dottydora

Hi Peacyprice and Nervousmother. thanks for your replies.

NM - OR says at any time (now or after discharge) I can buy the beneficial interest in the life insurance policy for a one off payment of £50 and then he will have no claim to it should it pay out.

Peachyprice - I didn't know that child benefit was now taken into account but it makes no difference as the surplus is too little anyhow. But thank you, I appreciate it may have made a difference and I'd have been gutted! The only change is that I no longer have childcare costs as my 'baby' is now at secondary school.

Thanks once again for your support.

Good Luck everyone! x