IPA is it avoidable?

Geoff_n_Nat

Hi fellow money savers!! We went BR on wednesday and are waiting for our interview with the OR. I've been reading about the IPA where the OR can take a percentage of any spare income. Is this avoidable? My wife has suffered depression for years, mainly due to money problems, and she's been really low just lately, I'm worried that the BR has not completely freed us and she's still going to feel pressure and still in debt if that makes sense. We were just managing to pay an IVA at £480 per month, now that this is gone will this be classed as excess income? Thank you for any help!!

elliesmemory1

I think you have to have £99 or more after all your allowed bills are paid. Im not an expert by any means went br three weeks ago.

I would have thought that if you have more than £99 a mont spare you will have to pay a IPA but im sure someone who knowsmore about it all will be along to advise you.

curly04

if you have to pay it will be alot less than £480 per month


when you did your soa how much did you have left after paying everything?

skylight

The IVA will have stripped you back to the bare bones. The SOA is far more generous in BR so I doubt that much will actually be your surplus. (I hope your SOA on the BR forms was truthful and not the same as your IVA one).

Even if you do pay something, it will be a lot less than your IVA amount. Does your wife work or claim DLA for her condition? Because DLA would have been included as income in an IVA but cannot in a BR SOA.

Geoff_n_Nat

SOA was awkward. Since iva, wife paid all bills, household, car expenses, shopping etc which left her with less than £99 per month. I'm self employed, April 2009 to April 2010 my profits were £11,200 after tax which equals to £933 per month, I gave my wife around £250 towards housekeeping, £60 ish towards petrol, £60 ish for afterschool club, I average around £40 for clothes / shoes, £40 phone, probably £460 ish per month. Wifes been really ill ( suicidle at one point ) about money or the lack of it. hoping that OR will take this into consideration. I obviously don't want t avoid the responsabilitys I have but want to relieve my wife of as much pressure as possible

Geoff_n_Nat

skylight wrote: »

The IVA will have stripped you back to the bare bones. The SOA is far more generous in BR so I doubt that much will actually be your surplus. (I hope your SOA on the BR forms was truthful and not the same as your IVA one).

Even if you do pay something, it will be a lot less than your IVA amount. Does your wife work or claim DLA for her condition? Because DLA would have been included as income in an IVA but cannot in a BR SOA.

Wife works, I think if she stopped it would drive her mad!

curly04

the only thing they take into account is your surplus

i had major problems with mine who tried to tell me to go to work on the bus - when im partly wheelchair bound and couldnt walk as far as the bus stop!

so what is your surplus on your paper work you sent off?

Geoff_n_Nat

curly04 wrote: »

the only thing they take into account is your surplus

i had major problems with mine who tried to tell me to go to work on the bus - when im partly wheelchair bound and couldnt walk as far as the bus stop!

so what is your surplus on your paper work you sent off?

Thats ridiculous curly.

I think that my surplus will be 460 ish, sorry for the hazyness, a bit blank in the mind, too much happened this week and a bit mind blown!!

curly04

Post your SOA up here asap and let us all have a look!
if that is your surplus now they would hav took more off you on a IVA

Geoff_n_Nat

wife soa

income after tax 1100
tax credit 65
child benefit 134

total 1299


rent 325
housekeeping 400
gas/elec 146
phone 60
fuel 40
council tax 98
RCN 16
tv licence 12
car tax 21
rac 15
car ins 51
house ins 16
pet ins 15


total 1261


Just realised she hadnt put down for any clothing, pet food, too little for fuel!!




unsecured debts

santander 3854
simply be 546
hmrc 3384
claim4refunds 2000
barclaycard 1224
barclayloan 8435
barclays bank 2198
hfc 60

total 21701


me
income April 2009 - April 2010 averaged at 933 a month

Housekeeping 250
phone 45
fuel 60
clothes etc 40
after school club 60

Total £455

Iva was 480 but obviously now stopped


debts

barclaybank 253
barclaybank 1247
capital 1 460
hmrc 2395
mbna 1160
mbna 1299
claim4refunds 2000
aqua 2523
barclaycard 270
barclayloan 1394
barclayloan 198
barclayloan 4920
barclaybank 340
barclayloan 1774
barclayloan 1247

total 21480

Geoff_n_Nat

Sorry about delay, a friend turned up with kebabs and an eight pack for us, how nice is he???!!!!!