Going BR Friday, baby due next month - SOA & IPA info

lisanewman1980

Hi All,
My husband and I are going BR on friday, we have approx 50k unsecured debts, house is on the brink of negative equity and I am due a baby at the end of next month.

My question is this, as my SOA will change pretty meuch soon after the BR what will happen.

As I am only getting maternity allowance from the government will I still have to pay full fees as my husband is working, in relation to the family budget how is the budget divided between the two of you. As it stands at the minute we will have a surplus income but this will drastically reduce once the new baby is born, there is also the issue of new equipment etc.

I believe an IPA takes a couple of months to sort out so my SOA will be out of date before it even has the chance to get set up.

Can't wait until friday is over and my OR interview is complete then I know where we will stand!!

Sandwich

I don't have the information you're looking for but just want to say good luck with it all.

Depth_Charge

Hi

This BIS link might help

http://www.bis.gov.uk/insolvency/personal-insolvency/income-payments-orders-and-agreements

silvercar

As I am only getting maternity allowance from the government will I still have to pay full fees as my husband is working, in relation to the family budget how is the budget divided between the two of you. As it stands at the minute we will have a surplus income but this will drastically reduce once the new baby is born, there is also the issue of new equipment etc.

If your husband isn't going bankrupt he isn't expected to contribute to your bankruptcy, in the same way as he wouldn't have to contribute to your personal debts.

As far as deciding on your IPA goes, there are 2 ways of dividing the expenses. Either you each pay your share of the family budget according to your income. This would mean your husband declaring his income and apportioning the budget between the two of you. Or (and this would be better in your case) there is no obligation on your husband to declare his income to the OR and without this information the OR would just split the budget 50-50. So with only a low income from child benefit and maternity allowance you wouldn't get an IPA (assuming no maternity pay).

Thinking further, if you have no income and only have benefits, you won't get an IPA.