BR First Interview on Friday, worried!

Muttipops

Hi, first interview on Friday.
Whilst I think I pretty much have all the info required and know what to say, something that worried me is this; I have to give them 12 months of bank statements, so they can see everything I have spent.
I thought I was heading for a F&F settlement until March this year and so I spent money , say, on a once in a lifetime experience that cost me £295. Will this sort of spending be questioned? It is about the only frivolous thing I have done in 13 years of hardship, but I don't want it to come back and bite me on the behind.
Thanks for any answers.

National_Debtline

Hi

I don’t think you need to worry. The OR may ask about the spending but you didn’t intend to go bankrupt at the time you spent it. Just be open and honest.

James
@natdebtline

BobbyEwing

How did it go? I've got my phone interview on Wednesday. What sort of questions did they ask? Do they tell you if you have an IPA at that stage or do you have to wait?

Muttipops

Hi, Bobby,
Well, it went amazingly well.
They say be prepared for it being half an hour at least, but it only took 19 minutes.
They told me then and there that they would not be doing an IPA, my bank account was not frozen and that they needed a few more details to be sent to them, but nothing that was difficult to provide and what I am not able to access they will do themselves.
Then it was " We'll contact you in a few months to tell you how we are getting on, please tell us any change in circumstances in the meantime," and goodbye!
My case is fairly simple, but all the same, I was amazingly surprised by this interview. Long may this continue.
I will say that because I have been on this forum seeking advice then my application form was well filled out and my SOA realistic, which I am sure helped smooth things out.
Good luck with your interview.

Muttipops

Oooo, I forgot, the sort of questions they asked were " How did you get in financial difficulty"? and in my case as I am not a UK citizen, "How do you come to be living in the UK" and that was about all, apart from discussing my application form.

BobbyEwing

That's awesome. I had a quick phone call on Thursday to arrange the "proper" interview for next Weds. They havent asked me to prepare anything for it, other than to have the application to hand at the time of the phone call. I'm just really worried as you read so many things on this forum about unaffordable IPA/IPOs etc so it's good to hear that yours went well. I also appreciate that everyone's circumstances are different so I guess I just have to wait and see. Well done again!

A4445

I went bankrupt in 2009 and didn't get an IPA either. The OR just said we won't be considering an IPA for you and that was that!

NotEvanAPot

BobbyEwing wrote: »

I'm just really worried as you read so many things on this forum about unaffordable IPA/IPOs etc so it's good to hear that yours went well.

Just to be absolutely clear, no IPA/IPO is unaffordable. Some posters here may be unhappy at paying out after their BR order date for the following years, but it would never be an unaffordable amount, and vastly less than the debts would cost to service, otherwise a court should not approve the order being made.

Should the OR deem a surplus to exist following payment of reasonable living expenses, this is the amount due to be paid. Lack of agreement can lead to an IPO being applied for, but is a rare situation - both because the Insolvency Service is extremely undermanned and that undischarged bankrupts often baulk at the implied threat of their automatic discharge being suspended/delayed without agreement. BR is a lifeline from crippling debts, but should not be viewed as a cure or release from responsibilities. Creditors expect that either the OR or an instructed IP to recover as much as possible, but protections exist to allow general costs (rent, bills etc) to be paid first. An IPA is not a penalty, it is the legally accepted route to recover any surplus from a bankrupt estate for a fixed period.