Can the court turn down BR application?

gettingready

In what circumstances one's BR application can be turned down by the court please?

Is it possible to turn up at the court with all the BR forms and be turned down - after paying the fee or before?

Tried to look through the threads but could not find that info....

Thanks a lot

kerrypn

Hi again getting ready-if you are not insolvent the judge can turn down a BR. Citizens Advice Bureau, debtline or CCCS can offer you advice on this. Having seen your surplus on your other thread, I would speak to at least one of these before filing for BR.

Regards

Kerry

gettingready

Thank you Kerrypn - very much appreciated.
I am waiting for CCCS to call me on the 3rd but wanted to know a bit more in advance.

Is there any guidance on how much "surplus" can one have before they are considered to have "too much" to go BR then?

debtinfo

It Is not about the surplus, what it is about is if you can pay your debts as they fall due, ie add up all the debt repayments that are due monthly and is your surplus does not cover this then you are insolvent

kerrypn

Please have a read through this:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

This should give you a good oversight to BR and also alternatives. I am not sure what is "allowable" surplus, but if we take your SOA as having a £500 surplus (half of the original surplus you submitted) you could try to make payments to your creditors-the OR would take some of this anyway to pay off some of your creditors.

There is a thread here somewhere that has the %age the OR takes, i will try and find it for you

kerrypn

This is the table posted by fermi regarding IPA contributions:

gettingready

Kerryp - thanks for posting the table.

This what I am hope for - BR with IPA for 3 years rather than a DMP that would go for ages.

From the table above I see that 70% of my "surplus" would go towards an IPA - as long as it lasts 3 years that is better than indefinite DMP.

Will see how it goes...
Thanks again.

Debtinfo - thanks for posting. My surplus does not cover the payments that were/are expected that is why i am looking to go BR with the interests to be frozen and an IPA which I understand is normally for 3 years?