airbnb and bankruptcy

london1973

Hi everyone

i'm not sure if tere is a thread on this, there is now!

BR october 2017

i've recently put the spare room in my house (which kids use when i have them) on airbnb - I've had a few bookings-i'm not on an IPA and the I would think it highly unlikely the amount I make would put me over the threshold-just affords me a few extra pennies really

However how does one approach with regard to the OR, as the income is sporadic and short-notice, often last minute, its tricky to declare anything concrete

thoughts?
thanks

National_Debtline

Hi london1973

As it’s classed as a change in your financial circumstances you will need to tell the OR about this. The best policy is to be honest and explain income will be sporadic and find out how they want to deal with it. It may be that you will need to update them each month with any bookings you have had. An income payment agreement (IPA) can last for 3 years and will be taken if prior to discharge you have more than £20 per month surplus income.

Susie
@natdebtline

london1973

thanks Susie, I will inform them
however how can they set up an IPA post discharge without knowing your income-especially if its retrospective?-the airbnb, which doesn't give me a surplus I should add, will fluctuate massively depending on time of year (that's even considering I continue doing it, its quite a headache)

just don't understand how you can have an ongoing IPA with such huge uncertainty

luvchocolate

I would think you are not discharged yet with no I.P.A? If this is the case you would have been better waiting until discharge then you are home and dry.
You will need to inform the O.R of any earnings so far and explain it hit and miss, they may want you to inform them on a regular basis.
It would be a shame to get hit with an I.P.A now so close to discharge.

luvchocolate

london1973 wrote: »

thanks Susie, I will inform them
however how can they set up an IPA post discharge without knowing your income-especially if its retrospective?-the airbnb, which doesn't give me a surplus I should add, will fluctuate massively depending on time of year (that's even considering I continue doing it, its quite a headache)

just don't understand how you can have an ongoing IPA with such huge uncertainty

They cannot set up an I.P.A post discharge if there is not one in place prior.

london1973

Thanks LC as always
1. I did it because I need the money!! Without it I am getting by on a pittance really, after rent, bills and a modest maintenance payment, point being the amount I get wouldn't get me to an IPA, I'm pretty sure of that
2. Do you know where I can see some filled out SOAs, to give me a rough idea of what they allow
3. My question was really how can they set you up with a 3 year IPA before discharge if your income is so uncertain?

Thanks!

TheGardener

london1973 wrote: »

Thanks LC as always
1. I did it because I need the money!! Without it I am getting by on a pittance really, after rent, bills and a modest maintenance payment, point being the amount I get wouldn't get me to an IPA, I'm pretty sure of that
2. Do you know where I can see some filled out SOAs, to give me a rough idea of what they allow
3. My question was really how can they set you up with a 3 year IPA before discharge if your income is so uncertain?

Thanks!

If your income is really low - even if you tell the OR about your extra income, it doesn't automatically mean you would get an IPA. There are no specific 'allowances' for an SOA. If you complete an SOA based on not having the airB&B (there is a template here you can format to post directly on this board) then we can look as see what your income/expenses are help judge if there is room for manoeuvre. It may be that even with the B&B income - you are still able to avoid an IPA.
IPAs are flexible and can go up and down based on your income. You have 21 days from the date of the actual change to let the OR know about it.

london1973

Thanks Gardener
Going a bit off-topic but how is maintenance handled in a SOA/IPA- I make a payment that aquatints to approx half my ex and kids costs- which includes their household bills, food etc

Is this allowed and does it have to be broken down separately

Thanks

TheGardener

london1973 wrote: »

Thanks Gardener
Going a bit off-topic but how is maintenance handled in a SOA/IPA- I make a payment that aquatints to approx half my ex and kids costs- which includes their household bills, food etc

Is this allowed and does it have to be broken down separately

Thanks

Is the maintenance subject to a court payment order - or an informal agreement with your ex?

london1973

informal agreement, but quite scientifically calculated- also she doesn't work

TheGardener

You may find you have a problem with the OR on this - there is no question about court maintenance orders but informal agreements may well be challenged no matter how well calculated. Be prepared to argue you case on that one.