My Bankruptcy

markssta

I am nearly a year into my bankruptcy but i am still out of work, But things may be looking up. Does anyone know if i was offered a self employed role as a sales rep can i go and get a car on HP? Also i dont pay any Income payment orders (IPO/IPA) yet because im out of work, when i do get work or self employed work does the order last from three years from when it starts? or from when my Bankruptcy started?

I rent a house at the moment, If i received some money to buy a house do i have to wait until the IPO have finished?

Going back to the (IPO/IPA) is there a set amount that you have to pay off?

National_Debtline

Hello there.

The only wya that you'll be able to get a vehicle on HP is if you seek permission the Official Receiver and let the finance firm know that you're bankrupt. They are likely to find out via the credit check.

If your employment affords you disposable income an IPA/O is likely to be the full amount of the disposable income, it is usually paid for three years.

In relation to the house situation, will you be buying the house outright? You may find seeking a mortgage nigh on impossible until the bankruptcy has fallen off your credit file. Do seek financial advice on that point, though.

Best wishes,

National Debtline.