Urgent news on IPA's - Changes for BRs after 01/12/2010

andyf1980

I'd question if anything under £50 is worth taking. Assuming that Moonbeever charges solicitors fees in line with the rest of the market.
Add to that the cost to the or of reassessing soa following a relatively minor change in income/expenditure.

debtinfo

the_bright_side wrote: »

Speaking to my insolvency practitioner today who is also a MoJ advisor, he seems to think that taking 100% is unworkable;

A: As it breaches human rights and that one test case will stop this.
B: Most OR just wouldn’t enforce it (as its easier to allow a BR to have surplus that he / she could use in emergencies rather than contact the OR or Moonbeaver every time there is an IPA payment issue due to none payment = additional admin overheads

but most importantly

The whole point of bankruptcy is to allow the BR a fresh start and to be able to manage their money, with a positive outlook for the future, which this totally goes against

Also how many people will now manipulate their IPA to allow a surplus, just in case, where previously there was no need?????

A. It does not breach human rights that i see

B. Moonbeever work on a percentage basis and absorb their own overheads so the risk here is with moonbeever not the OR, I would presume that they have had detailed discussions with moonbeever as to what the lowest amount they can collect is and as such the £20 limit.

D. The whole point of bankruptcy varies from time to time depending on who is in power at the time, just because it has been like that since 2004 doesnt mean it will be so in the future, their have been times when the whole point of bankruptcy was to punish them as much as possible, in some eu countries it still is.

I would take anything you hear from an IP touting for IVA business about the validity of IPA's that are adminstered by anyone else apart from his own feecharging staff, with a pinch of salt

elliesmemory1

So if you have a surplus of £21 they take it all leaving you with no surplus what so ever?

debtinfo

In theory yes

andyf1980

B. Moonbeever work on a percentage basis and absorb their own overheads so the risk here is with moonbeever not the OR, I would presume that they have had detailed discussions with moonbeever as to what the lowest amount they can collect is and as such the £20 limit.


That's interesting. You learn a new thing every day.

Queen

Hi, I have not been on for a while myself and hubby went BR in Nov 2008 and are just over 1 yr into IPA but am shocked at the new rules on surplus, this does this mean they will include an amount for emegencies i.e. boiler breakdown they won't include an amount for a contract each month how are you supposed to pay for extra's that they won't include for instance by gas is £106 per month this is on time and on between 4pm-10pm and 6am-8am and we are on the best tarrif but OR will only allow £60 therefore this comes out of our surplus.

I feel so sorry for those that this effects from today as BR is not taken as an easy option.

My hubby as a long term illness which resulted in our BR which was the best option for us last month he had 2 days off due to sickness so loss of 2 days pay of approx £120 OR reduced IPA by £30 this has happended again this month but worried about asking for them to reduce IPA again for this month in case they assess this on the new rules, lucky with a small surplus I don't know what we would do if we were on new rules.

elliesmemory1

Queen wrote: »

Hi, I have not been on for a while myself and hubby went BR in Nov 2008 and are just over 1 yr into IPA but am shocked at the new rules on surplus, this does this mean they will include an amount for emegencies i.e. boiler breakdown they won't include an amount for a contract each month how are you supposed to pay for extra's that they won't include for instance by gas is £106 per month this is on time and on between 4pm-10pm and 6am-8am and we are on the best tarrif but OR will only allow £60 therefore this comes out of our surplus.

I feel so sorry for those that this effects from today as BR is not taken as an easy option.

My hubby as a long term illness which resulted in our BR which was the best option for us last month he had 2 days off due to sickness so loss of 2 days pay of approx £120 OR reduced IPA by £30 this has happended again this month but worried about asking for them to reduce IPA again for this month in case they assess this on the new rules, lucky with a small surplus I don't know what we would do if we were on new rules.

This is my worry, if you are left with no surplus at all how are you supposed to manage when any thing goes wrong. ie cooker washing machine etc etc.
I feel this rule will push people back in to debt.
It seems crazy to me.

CHEZ1

HI IVE JUST READ THE NEW RULES :mad::mad::mad::mad: hope i dont appear to be thick but i went BR on the 27th september ipa signed 11th october and have just sent first payment my wages are due to change due to no week end work and an increase in my pension payments due to current goverment guidlines whuch mean i will be earnin 100 less a month ..... to be honest im not sure if to leave ipa as it is as im worried i will be assessed under new rules can anyone advise??? im not trying to get out of paying for ipa at all but am struggling as it is with the figures i was allowed to take 100 percent would leave me struggling further ... i think this new rule will also push people into further hardship....bankruptcy option was hard for me and i had hit rock bottom..... i think this will hit people really hard ...........

fermi

On the info that (we think) we know at the moment, then as your IPA was agreed before 1/12/2010 it will continue to be assessed and reviewed under the old guidelines.

elliesmemory1

Im confused! I have read on here that any changes will be delt with under the new rules is this right or wrong please.