Wherediditallgo’s ‘path to enlightenment’ bankruptcy diary

stubie

wherediditallgo wrote: »

I'm making my payments early when I do them, not a month or more later.

This might be a silly question but can you pay all 12 months in advance? Not that I have the money to do that anyway.

Just thought it would make life easier knowing that you did not have to worry about it for the next 12 months etc

rog2

stubie wrote: »

This might be a silly question but can you pay all 12 months in advance? Not that I have the money to do that anyway.

I think that the OR might be interested to know how a bankrupt would be able to do that, as well, stubie.

wherediditallgo

stubie wrote: »

This might be a silly question but can you pay all 12 months in advance? Not that I have the money to do that anyway.

Just thought it would make life easier knowing that you did not have to worry about it for the next 12 months etc

Even if you could, I very much doubt that it would be in your interests to do so. Your IPA is decided by how much monthly surplus income your OR decides you've got. If you can lay your hands on sufficient funds to pay 12 months' payments in one lump sum, then (a) you had considerable savings that should have been declared on your SOA, or (b) you've had some money come to you that should have been declared to the OR within the 21-day limit. Your IPA is based on your monthly surplus, & I think you're much better off paying it monthly than risk questions being asked about where the money came from for the lump sum payment. Whenever I pay mine, they always ask how much I'm paying, so there must be scope for paying other than the set amount e.g. if someone missed a month with the OR's agreement & now wants to pay extra to catch up. However, the IPA paperwork mentions only monthly payments - there are no other payment options offered, & I'd take it from that there are no other payment options that would be entertained.

Anyway, it's not difficult to remember it. You can agree a mutually convenient date of the month with the agent you pay the money to, & you can pay by direct debit/standing order if you wish. I chose not to do that, because I always knew that I'd want to pay earlier than the due date if possible but didn't want to be committed to doing so. If I knew I was going to be away from home around the due date, I'd just pay it earlier so that I didn't have to think about it nearer the time.

wherediditallgo

26 Sept - Got a lovely letter today. The Insolvency Service confirmed that I've been granted an early discharge, with my discharge date being 10 September, & enclosed the notice of discharge. I can't believe it - I can't stop looking at the letter, grinning & clapping like a demented marionette. Me, an early discharge - can't get to grips with it mentally yet. 5½ months from hearing to clearing - what a difference such a short time can make! I'm going to make loads of copies, & I'll particularly enjoy sending a copy to LTSB.

rog2

wherediditallgo wrote: »

26 Sept - Got a lovely letter today. The Insolvency Service confirmed that I've been granted an early discharge, with my discharge date being 10 September, & enclosed the notice of discharge. I can't believe it - I can't stop looking at the letter, grinning & clapping like a demented marionette.

That's great news, wdiag. I'm so pleased for you. :T :T

wherediditallgo

Thanks, Rog. I keep looking at the letter, as if the text is going to change - I know it won't, but I can't stop myself looking anyway.

fermi

wherediditallgo wrote: »

I keep looking at the letter, as if the text is going to change - I know it won't, but I can't stop myself looking anyway.

I know that feeling. Even two months on from my ED I still occasionally have to get the letter out to have a look at it.

Have you checked your entry on the Insolvency Register yet? It's nice to go and have a look at that.:D

wherediditallgo

Yes, I had a look there a few minutes ago. It's all there in black & white - "Discharged on 10 September 2007 (Early Discharge)"

rog2

wherediditallgo wrote: »

Thanks, Rog. I keep looking at the letter, as if the text is going to change - I know it won't, but I can't stop myself looking anyway.

I've actually framed mine - I keep it on the wall in my study - how 'sad' is that? :embarasse :embarasse

wherediditallgo

Not sad at all. I'm going to make loads of copies, as I want to send it to anyone who hasn't put the correct info on my credit file, but I'm going to laminate a copy back to back with a copy of the BR order. It's going on the wall in my study too.