Bankrupt and stressed out with OR

SouthCoast

lilibet1 wrote: »

i think op means the amount paying for ipo?

I have about £148 a month disposable income so is taking 50% of that..

£75 x 36 = £2,700

debtinfo

Just a few points, when the examiner said voluntary they probably meant that its up to you whether you agree to sign or not,

You should always put down what your actual outgoings down regardless of wether you think that they are too much or to little. You should not (with the help of CAB or anyone else) try to make it fit in the what you or they may perceive are limits, if they are your true outgoings it is very much harder to argue against rather than if it may look like you have been trying to second guess the OR

if you cant come to an agreement it can go to the judge to set the IPO. This as has been covered could be the same, more or less than the OR wants, it is entirely at the discretion of the judge, so you would want to be even more certain of your amounts and the reason they are necessary.

Repayments to family members is not usually an acceptable expense

Pets are usually limited to about £20 pm

Hope that helps

delightfuldior

SouthCoast wrote: »

Why are you not free from all of your debt?

because I have an ipa for 3 years so will be paying back 2.5k back which is much better than 14.k not including the 3k i owe mum.

delightfuldior

Darnit wrote: »

Just a couple of really important points that don't appear to have been stessed yet for the OP.

You ARE NOT ALLOWED to pay your family debts back with your disposable income. This can land you with a bankruptcy order for longer. I understand the moral obligation but you must hide this fact from EVERYONE if you do it. Don't pay by cheque or bank transfer. It is classed as favouring a creditor and is against the law.

Also, if you refuse the IPA, the OR will get an IPO (order) and it could be for mroe money. so keep calm, negotiate and count it in your head as a "loan" with a fixed end date. This will help you to get through psychologically.

Baby steps are best, first go BR, have interview, agree IPO, count the months down and get discharged.

best of luck

the OR never mentioned anything about this... she asked me why I owed my Mum the money of which I explained but didnt say whther it was included or excluded in the SOA. I did say that 75 quid a month wasnt enough to pay her back and fund my dogs special diet but she wouldnt budge. :mad:

I mentioned about pay:mad:ng mum out of my disposable income because i didnt know y:mad:u werent meant to. its done now anyhow..

so i'm gunna sign the ipa and just get on with it

OrkneyStar

delightfuldior wrote: »

the OR never mentioned anything about this... she asked me why I owed my Mum the money of which I explained but didnt say whther it was included or excluded in the SOA. I did say that 75 quid a month wasnt enough to pay her back and fund my dogs special diet but she wouldnt budge. :mad:

I mentioned about pay:mad:ng mum out of my disposable income because i didnt know y:mad:u werent meant to. its done now anyhow..

so i'm gunna sign the ipa and just get on with it

Not seen your SoA, but could you syphon off any off your food money to go toward your dogs special needs diet ? Check out the Old Style Board for inventive ways to decrease your food spending!
That way food spend stays are it is on SoA, you just spend it slightly differently!
As for your mum only getting £75 pcm, well if she was treated like all the other creditors were I doubt she would get that much back!
I understand the wanting to pay family back, but OR has to do things the legal way. Just think, if someone really wanted an extra £50 for themselves every month they could just pretend they had a loan to someone in family! Does your mum know the full extent of your money problems and the implications for you, of paying her ? Did she know how bad things were when she loaned you the money ?
Anyway, try not to stress too much, it will come well in the end.
x

kepar

The problem is the OR could see it as you are favouring a creditor and give you a BRO/BRU.

delightfuldior

kepar wrote: »

The problem is the OR could see it as you are favouring a creditor and give you a BRO/BRU.

BRO/BRU? what is this??? she hasnt mentioned anything about this.

FraudBuster

delightfuldior wrote: »

BRO/BRU? what is this??? she hasnt mentioned anything about this.

Some BRO/BRU from the North East are listed here



http://www.insolvency.gov.uk/databases/ddirector/viewbrobrudetailssummary.asp?gnnregion=north east

fermi

delightfuldior wrote: »

BRO/BRU? what is this??? she hasnt mentioned anything about this.

I wouldn't overly worry about it. Especially as you mentioned the payments to your mother and the examiner didn't seem bothered.

Officially you shouldn't be paying your mother back, and the payments certainly cannot be included on a SOA for the OR's IPA calculation.

However, many many people do pay back debts to friends/relatives out of any surplus that they are eventually left with. While it's something the OR can't officially sanction, I get the impression that they understand. Turning a blind eye is perhaps the wrong phrase, but.......