Nearly the end of the IPA

tiggerbodhi

Been just over three years since BR and my last IPA payment is next month, seems to have flown past and will be a good day to know that it is all done and dusted.


Still well "under the radar" as only got a basic bank account last year when I got given a cheque for a Christmas bonus and needed somewhere to pay it into, I have been using a "spare" account that my girlfriend setup, has never once caused an issue with using it as chip and pin or online, no one has questioned it other than the local butcher with a "you don't look like an Amanda"!


Get very little junk mail is one bonus other than vanquis credit cards trying to bottom feed, they must search the BR register I guess.


I have been quite open with anyone who asks about BR and my personal experience of it, becomes a non interest if they can't gossip about it, often some will open up about debt and how BR affects you etc.


For me personally it was the "new beginning" that was needed, there was no practical way that I was going to clear the debt I had and the mortgage shortfall (house was re-possessed) by trying to pay it back, some may criticise but all my creditors were financial "institutions" that had more than a pound of flesh in interest and charges.


The one oddity is that searching the London Gazette I no longer appear as a bankrupt on there, it is as though my record has been deleted or lost, but no matter what I search, name, surname, address etc I do not pop up in results, has anyone experienced this before?


If anyone is at the stage of being advised BR is the way forward and are wavering or worried, it is not the end, it is the beginning of you being in control, no one in process has been unkind, judgemental or tutted once!


Thank you all on this forum during the initial period and later that made sense of IPA's, Nil Tax codes and all the forms.

Lady321986

Well done for getting this far and enjoy the new chapter in your life.

I know a lot of people go bankrupt however not all pay an IPA. It's this I've found to be difficult and I'm just after half way through and can't wait for it to be over.

I think the bit I've found tough about the IPA is the the process of quarterly bonuses not because I have to pay it but the hassle of having to submit my wage slip and then await back (can take nearly a month) and then pay the extra.

I think if it was a flat rate and I didn't get a bonus it'd be better because I'd let the standing order payment do the work and not have to think about it and maybe it'd feel it was going faster.

Although I have to say they don't seem to contact you at all resulting in needed forums like this for help and support. I mean for me I submit my wage slips all the time because of bonuses but they never request them or my p60. Did you find this and when I did have a question I couldn't ever speak to anyone?

I've noticed I'm not in the insolvency register however I didn't think the gazette ever came off. I hope it does though!

Have you had to do any credit file clean up? I'm beginning to research the best way around it all and it definitely looks challenging since not one thing is right on there

Thanks

tiggerbodhi

I found the OR or Clarke Willmott/Moonbeever (still makes me laugh that name!) never contacted me, I sometimes got overtime payments but never contacted them, the OR said if it was not much and irregular wasn't basically worth the paperwork to alter the IPA, really think it was "out of site out of mind" with them.


Not done any credit file clean up as I have only had a very basic bank account for just over a year and every time I try to register with Noddle it says it cannot verify my identity, no idea why as I am on the electoral role, been living in the same place for four years, possibly it is because no direct debits or many transactions on my bank account.


I know I dropped of the insolvency register after the year, but was still on the Gazette up to last year but now not on there either, a bit odd.

Lady321986

Thanks for your reply.

I have absolutely nothing good to say about Clarke Willmot really or the insolvency service. They seem clueless and can never answer even basic questions.

I always thought the gazette listed remained but I hope it doesnt. I think every one after BR time/IPA time and all the years after it remains on the credit file is enough really. Especially after all that time and effort most can't even get a mortgage or even a decent bank account.

I today final got accepted for a flex basic bank account with nationwide. Currently I'm with the secure trust and pay £12.50 per month a joke really just to pay my wage in and for this struggle to pay cheques in, have to pay additional for them to write a one off cheques and withdraw cash lol.

Do you think you've been lucky not paying O/time, been contacted or do you think it's standard?

I always send them my wage slips and let them have all my bonuses I just wondered if you've ever been contacted or asked for bank statements/ P60's over the years because I thought it was a mistake they hadn't asked me and so I keep all payment receipts/bonus letters/wage slips/p60s because I don't ever want them to demand paper work from years before and be penalised. I sound totally paranoid

My credit file is a mess. In fact when i think i have a place to begin then I need some thing else and it just gets even more delayed. I reckon it'll take 6 years to sort out which is why it remains there for that long!

I have a noodle report emailed monthly but I recently requested the £2.00 versions from experian/equifax and the noodle one is useless in comparison, although to get this report I had to answer questions dating back to 2005 about what I did etc, I mean seriously I've slept a lot since then so this whole varification process is tough.

I wouldn't give up on the clean up though and once you've done it try and get a credit card even from the bottom feeders vanquis and buy and pay back straight away to build your score back up.

tiggerbodhi

Since the IPA was agreed I have never been proactively contacted by either Moonbeever or Clarke Wilmott, I once contacted Moonbeever to re-do my IPA when I changed jobs to a lower salary, but gave them a new SOA and there was a bit of back and forth to get the OR to agree a new figure but still pretty painless.


Never been asked for P60's or wage slips, O/Time payments are rare so have not bothered with the rigmarole of contacting Clarke Wilmott and are quite small, if they did would insist on doing a new SOA which could I am confident I could get the IPA agreement reduced if I did anyway, personally believe in not poking the angry spider! as long as they get their monthly payments they are happy.


Might have to contact Experian and get the £2 one, no success registering online, probably as I have kept "off grid" for the last four years nearly, would be good to clean up my credit file if only to finally put it all to bed.


The Gazette listing is meant to stay for all time, my is definitely not there, but again not going to ask them why, just let it lie.


I got a Halifax Card Cash account, couldn't open online had to phone up as I was a recently discharged BR but no problems getting it, at the moment can see no reason to upgrade it as I get online banking, phone banking etc, just only a poverty spec electron/cash card!


My contact with the insolvency service again has been minimal, the original court appearance was good, nice helpful clerk, didn't see the judge, then the interview over the phone with the OR two hours long and then really nothing until I contacted about altering my IPA, but they were always polite and helpful.


Good advice on the "credit builder" card, will eventually climb out of the trench, but have got used to not giving my details out, no nectar cards etc, my only junk mail is Screwfix!