Nearly Ready For The "SUBMIT" Button

debt_doctor

Hi, you are correct, if that is the involvement as just a share holder then that's fine - but as Directors are shareholders the adviser should have asked the question about whether you were involved in the company - that was my point.


When you are discharged from bankruptcy, the requirement to inform of new property / assets ends and the requirement to advise of new income ends providing you are not already in an IPA. This is whether you have a BRO/U or not.


Their advice was incorrect.
DD

VeryInTheRed

OP here - my interview is on Friday.

Slightly bricking it : /

74leeboy

I've just had my interview and the lady on the phone was extremely nice and very helpful indeed. So no need to be bricking it. You will be fine. Good luck.

VeryInTheRed

Ended up having my interview today!

leeboy is right - was not as scary as I thought. Very understanding. The lady I had had a very calming voice, that helped.

£400 for cigarettes was not allowed. Good job I start on the Champix this thursday

Might end up with a small £50ish IPA - but at least the weight of a £65k debt is gone and I finally feel I can breathe!

Thank you to all who offered support and advice!

I will point anyone I come across who is struggling in your direction! Superstars!!

VITR

Butts

VeryInTheRed wrote: »

Ended up having my interview today!

leeboy is right - was not as scary as I thought. Very understanding. The lady I had had a very calming voice, that helped.

£400 for cigarettes was not allowed. Good job I start on the Champix this thursday

Might end up with a small £50ish IPA - but at least the weight of a £65k debt is gone and I finally feel I can breathe!

Thank you to all who offered support and advice!

I will point anyone I come across who is struggling in your direction! Superstars!!

VITR

What exactly did they say about your cigarettes ? - were you allowed anything at all ?

Any other disputed expenditure ?

Hope you can wriggle out of the £50 and have a celebratory cigar

VeryInTheRed

Hi Butts,

No not a penny was allowed for smoking

The OR was fine about everything else and even upped a few of the things - can't remember which ones now though.

Butts

VeryInTheRed wrote: »

Hi Butts,

No not a penny was allowed for smoking

The OR was fine about everything else and even upped a few of the things - can't remember which ones now though.

Hi VITR,
Did you ask why they have a section for it if it is not allowed ?

VeryInTheRed

No, didn't think too at the time. Was just getting through the interview lol!

debt_doctor

VeryInTheRed wrote: »

No, didn't think too at the time. Was just getting through the interview lol!

Completely understandable! - You are one of the first on here who has gone through the new SFS / IPA rules.


Technically it is wrong that nothing is allowed for smoking, but it does seem that the overall more generous figures have been allowed - the IS are learning too.


If you are happy with an IPA of £50pm then that's fine, if not then post your thoughts on here.


I hope you could lurk on the forums for a while as your experience is very important for others.


Thanks,
DD

Butts

debt_doctor wrote: »

Completely understandable! - You are one of the first on here who has gone through the new SFS / IPA rules.


Technically it is wrong that nothing is allowed for smoking, but it does seem that the overall more generous figures have been allowed - the IS are learning too.


If you are happy with an IPA of £50pm then that's fine, if not then post your thoughts on here.


I hope you could lurk on the forums for a while as your experience is very important for others.


Thanks,
DD

Perhaps it would be useful if VITR could post his SOA that was allowed as part of the bankruptcy to compare with the original he submitted on here ?

Knocking his £400 out for smoking there must have been some big movements in other areas to keep his prospective IPA down to £50.

DD as you acknowledged the OR was technically incorrect about allowing nothing for smoking - what figure as a member of the "magic circle" were you expecting would trigger their interest with regard to this ? - £50 , £100 ???