Help - SOA and surplus for IPA?

Grandadto2

No coz I have only been trading since December last year and have only been bankrupt a short time. It is the IP who is classing turnover as income, not me. He wanted IPA before seeing my expenses and still wants it even though there has NEVER been a surplus

Ineedaname

Have you tried sending your IP a list of gross income/expenses to show net income and an associated SOA for that net income?

You could do one for each of the last 6 months to prove no surplus.

I would certainly try that before the IP takes you to Court as that's your proof to the Court that you have tried to negotiate and show no surplus.

Grandadto2

IP gets I&E monthly reports, bank statements and list of expenses every month. It is like hitting my head off a brick wall. He thinks I have a surplus because I have money in bank on last day of month but that is for next months bills. If I gave him this then I would have no money for a month!

tigerfeet2006

I think you may have to look at making a complaint to the assistant OR about this IP and seeing where it goes.

debtinfo

well if it is all as you say and all the money is spent on reasonable expenses, then you have nothing to worry about, say no, if they take it in front of a judge simply explain how all the money is used