Can someone pls assure me its a max 3yrs for bankcruptcy ??

MissBear75

Hello all,

I've been bankrcrupt since Oct 2010 & paid an amount monthly to the reciever, i'm due to finish the payments at the end of this year but i'm just concerned there may be issues..

I was married to a complete conman who left me with 37 thousand worth of debt, i stupidly took a loan out for him etc & put the house in my name when he vanished i couldnt afford all payments, i spend 2 years trying various payment plans and in the end i had to declare myself bankcrupt as the creditors would not work with me, the interest charges were immense..

I declared myself bankcrupt at the end of 2010, i found a good job and began making payments.

I have met a new guy & am moving in with him shortly so will be glad when the payments end so i'll have more money to live on as we would like to think of starting a family etc..

I have recently got a payrise at the beginning of December i advised the reciever of this, it took a month to get back to me, i sent them all info i had to confirm my new wage & my current outgoings, there has been too-ing and fro-ing and i still havent heard what my new payments are to be as my wage has increased quite a bit -

My question is will they say i will have to pay for longer than 3 years to accomodate this ??

I tried to ring them & explain the situation but was told quite bluntly 'you cant expect to run up debt and then get away with it' ???

I havent run up debt on credit cards, fancy holidays etc and this really upset me.

I have paid on time every month, told them of my wage increase - but am worried that something could come back on me in some way - but it is them delaying matters i have advised them the info i have provided is all i have - can anyone advise me please ??

TinyToes

as far as i know an ipa can only last 36 months. bankruptcy restrictions can last much longer if its gambling related etc but im 99% sure ipa is 3 years.

Mouse1812

Please check the Bankruptcy Register to see if your name is still listed - You should have been discharged by now.

IPAs can only last for 3 years - you have done nothing wrong.

debt_doctor

MissBear75 wrote: »

My question is will they say i will have to pay for longer than 3 years to accomodate this ??

Nope. You cannot have an IPA longer than 3 years.

DD

MissBear75

thanks for your advice, i thought some people did get discharged early but i have a job and can afford payments and i was daft enough to get myself in this mess i just want a definate light at the end of the tunnel.. it just worried me as they were really abrupt to me and i thought ooh please dont make me to another year etc as i want to get on with my life, my debts werent through gambling and i'm keeping you informed constantly of my revised earnings.. thankyou and i'll check the register too - i really appreciate your advice!

MissBear75

Have checked the bankcruptcy register and i am not on there which is strange, i was declared bankcrupt Aug - Ocy 2010 - my ref was 555 of 2010 i just cant understand why its not on there ?? Surely if i am still making payments i wouldnt have been discharged ?

Mouse1812

Odds on you were automatically discharged in Oct 2011. The IPA continues past discharge, but you are no longer bankrupt.

PippaGirl_2

I wouldn't hassle the OR about any change in your IPA. You've done the right thing in telling them about the increase in your income, it's now their job to decide whether to vary your IPA, they may decide not to. Don't worry. Make the most of the extra income meanwhile. Not too long now till your IPA ends and you can start afresh.

rossireps

MissBear75 wrote: »

Have checked the bankcruptcy register and i am not on there which is strange, i was declared bankcrupt Aug - Ocy 2010 - my ref was 555 of 2010 i just cant understand why its not on there ?? Surely if i am still making payments i wouldnt have been discharged ?

not strange ur only on there a year, far as im aware

alastairq

rossireps wrote: »

not strange ur only on there a year, far as im aware

The record falls off approximately 3 months after AD.....so it's best to print off a few copies before it disappears...to prove discharge

rossireps

alastairq wrote: »

The record falls off approximately 3 months after AD.....so it's best to print off a few copies before it disappears...to prove discharge

i know but as op was dishcharged in 2011 i just wondered why they thought it was strange