No Surplus

michael1983l

If you have no surplus in your budget to give to the OR and they say you do not need to contribute. If during the 12 months I then went on and did some overtime at work do I need to declare this to the OR and effectivly give my overtime payments to them?

debt_doctor

Hi,
You need to inform the OR of any change in your finances until you are discharged from your BR. If you do not have an IPA in place when you are discharged, you can never have an IPA. If an IPA starts it will run for 36 months at an appropriate variable level.

DD

fermi

As DD says, you have to inform them.

However, if the overtime wasn't a regular or guaranteed part of your wage, then the OR should not claim any extra via an IPA.

michael1983l

My worry is that my SOA comes in at -140 but the national debt line said the OR would likely try to lower a couple of my payments but I still think it won't make it posative. During the period of bankrupsy does the OR check my bank accounts or are they in full control of them?

fermi

The OR doesn't check you accounts or have control of them.

You have a legal duty to inform the OR of a change in circumstance, and you are expected to keep to that obligation.

michael1983l

Whilst I am asking questions, I am also worried about having my BR extended to the 3 year point. I have been struggling with debt for 10 years and most of it was built up a long time ago. However recently because of my worries I have developed severe depression. When I went to the doctors they put me on some tablets that had a behavioral effect on me that made me very hyperactive and impulsive. My doctor said this can be a side effect. During this time I sillily added further to my worries by trying to gamble my way out and obviously gambling can be a cause of extended BR. My total debt is about £37k and the gambling probably caused between 4-6k of that.

My question is will they accept my doctors report that the side effects of the medication had an influence on the flurry of gambling at the end or will they likely just lock me down for 3 years?

I do not think that I will have any spare income to take and I have no assets apart from around £5k in my property if it is sold for market rate without any fees. Will they still try to take that interest or would it cost them more than whats available?

Thanks for the help guys.