A Final Meeting of Creditors letter

Brandnewstart79

Hi all,

I've had this letter through the post from Grant Thornton UK LLP saying that there will be a final meeting of my creditors to bring their administration of this matter to a conclusion and to obtain their release as trustee in bankruptcy.

On one of the pages it says Grant Thornton are now in a position to conclude its administration of this matter and to cease to act as trustee in bankruptcy as there are insufficient funds available for distribution to be made to creditors. They are quoting the notice of no dividend pursuant to rule 11.7 of the insolvency rules 1986.

What does this mean to me? I've had my IPA Suspended and it is meant to run until Nov 2018 so i'm kind of confused.

Is there anyway i can upload these pages for you guys to read and perhaps shed some light on what it means for me?

Regards

Brandnewstart79

Has anyone got any advice please?

JCS1

Nothing to worry about, just means they are finishing up their case. Were there any assets?

Brandnewstart79

What does this mean to me with my IPA though? Am I still required to let them know if I have a income rise of one happens in the future?

Brandnewstart79

JCS1 wrote: »

Nothing to worry about, just means they are finishing up their case. Were there any assets?

My old house was added to my BR.

Brandnewstart79

Brandnewstart79 wrote: »

My old house was added to my BR.

Do I still have to declare anything towards my IPA? I'm due for a promotion in November.

JCS1

Brandnewstart79 wrote: »

What does this mean to me with my IPA though? Am I still required to let them know if I have a income rise of one happens in the future?

Yes - you still have to notify and co-operate as needed

Brandnewstart79

The voting instructions for resolutions states that "the trustee should have his release under section 299 of the insolvency act 1986".

tigerfeet2006

All the letter means is they've done all the nitty gritty work. Worked out why you needed to go BR. The IPA is in place and all paperwork that they can do they've done. Evrythings running smoothly now so they can concentrate on someone else. All you need to do is keep up The IPA and if your circumstances change let them know until the end of the 36 months.

Brandnewstart79

tigerfeet2006 wrote: »

All the letter means is they've done all the nitty gritty work. Worked out why you needed to go BR. The IPA is in place and all paperwork that they can do they've done. Evrythings running smoothly now so they can concentrate on someone else. All you need to do is keep up The IPA and if your circumstances change let them know until the end of the 36 months.

Hi and thank you for your help. When I done my original IPA I had £330 spare income left to pay towards my IPA but when they looked at it they deemed I couldn't afford to make any more payments to my IPA? I questioned this but they said they were correct to my disbelief. When I get promoted I will have a £3000 a year payrise but my wife will be heavily pregnant by then and we're expecting in the first week of Feb. How will this play out towards my IPA if my wife is off work whilst being pregnant and a new baby imminent?

Thanks again.

tigerfeet2006

You just write saying that you've had a change in circumstances and submit a new SoA with your new wage. When your wife goes on maternity then you do the same again and make new calculations for your outgoings as you will have another person to look after. Every change as it happens you just let them know. When you write when you have a payrise I would also let them know that your wife is due February and going on maternity, just for their information.

Just post on here when it happens and someone will help with the SoA.

Congratulations btw on your impending parenthood.