A little bit help and info please

tigerfeet2006

£400 to 450 is perfectly reasonable.

mirabel25

just another question, we will most likely have an ipa for 3 years, if say one of us is made reduntant after being discharged does any redundancy go to the or? also if say a family member offered to pay the 3years ipa to end it early would this be allowed? thanks in advance

alastairq

mirabel25 wrote: »

can anyone tell me will we be able to keep our co op cashminder account for wages and essential dd council tax etc, we opened the account about a year ago and will need it for wages etc. worried sick over this.

Hi, as said above, no need to worry...but be aware, Co-op are intolerant of mismanagement...[3 strikes-and you're-out rule?]....but they do [or did] have a department specifically for those who petition BR...they are very helpful too.

I strongly recommend you apply for another Cashminder account right now.

Because Co-op till don't do real-time balances over the internet [the best way of controlling the accounts]...I advise a second account which deals solely with fixed essential payments likes SO's, DD's, etc....[rent, CT, leccy, phone, insurances, etc]....

When income hits the first account, simply transfer [online and instant]...the amounts required for the fixed outgoings into the second account, then leave it alone to do its stuff.

The remainder in the first account is then available for normal spending, food perhaps, petrol, etc etc?

Thus, this should lessen the fear of accidentally spending money meant for DD's or bills.

[Whilst BR and discharged, there is no limit on the number of accounts that can be held.]
The above makes budgeting for non-fixed spends a lot easier.

[The above was also recommended to me by my local CAB debt adviser some years ago......seems to work a treat....as I am not particularly plagued by Co-op's ancient accounting system.

piglet74

Hi, have you spoke to your lender yet?

I few months ago I was thinking of handing my house back thru voluntary surrender

I phoned my lender and they offered me an assisted sale

They covered the Estate agents and solicitors fees, and wrote off 90% of the shortfall, you get a few years to pay the other 10%

While the house is for sale you get to live there, they did ask could I make a payment towards the mortgage, I offered £10, they accepted, (mortgage and secured loan was £1300 a month!)

While I realised its not for everyone, it was the best thing I ever done, maybe ring your lender and ask would they offer you an assisted sale, some of them would do anything to avoid voluntary surrender or repossession

Hth good luck with it all

mirabel25

Thanks for the reply, we havent contacted lender as arrears wont start until 28th when payment will be missed, we dont want the house and already have a rental lined up. just saving for the bankrupcy and rental in the meantime. thanks

mirabel25

I have another question and looking for advice please.If we are not given an income payment arrangement at the start of Br can this be given after the 12 months? so basically the question is can an ipa be added after the discharge?

alastairq

hi.....nope.

The IPA has to be 'all-in' before discharge date.

mirabel25

Hello again! can anyone tell me when the OR does our soa will he base any ipa on joint income as we are both going BR or will it be done seperately? many thanks in advance.

mirabel25

anyone? please

mirabel25

Hello again! can anyone tell me when the OR does our soa will he base any ipa on joint income as we are both going BR or will it be done seperately? many thanks in advance.please can anyone answer question for me.