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Bankruptcy update-initial telephone interview
vivki
Posts: 40 Forumite
Hi all
Just an update to say that I've had my initial phone interview today. It lasted maybe 20 minutes, and the examiner was lovely. She made an effort to put me at ease, and just wanted basic information. Such as how the debt arose, what I knew about bankruptcy before I applied, when I last paid a creditor, and also for details of anything which was raised in the application, such as property sale within 5 years. I sold my house 4 years ago and used the equity to repay some debts at that time, and a little bit for furniture for our new home. She asked why the house was sold so I spoke about the sale and where the money went. I also added a creditor into the mix during my call, as I had missed them off of my application. For my reason for bankruptcy, I think she summarised this as reduced household income, and Ill health.
I also asked what I should do with a tax rebate I had received yesterday, and she said to not spend it for now, and that she would look at the regulations and let me know in due course. She thought that I may be able to keep part of it as I had 2 payments of 620 and 145, and she considered them perhaps nominal.
I also discussed a sale of stock from my business last month so that she was aware, and also that the ebay account I traded from was sold separately on behalf of my mother who's profile I had used to run my business. I explained that the money from the profile was paid to my mom although my mom is holding the money in case of any issues with the official receiver.
The call closed with the examiner sayiing that they would be in touch, and that the financial statement would be reviewed by a separate team who have recently taken over the examination of I and e figures.
Oh and for my husband, he showed a deficit of 111 against his financial statement, but was asked for ipa payments of £60. We included all sorts in the i and e, including £60 for alcohol, car lease 186, holidays 60, clothes 120, spare 30, gifts 30. I don't know where the 60 ipa has been calculated specifically, but hubby's rejected it as my income was accidentally overstated by 300 per month anyway. So we'll wait to see what they say there.
I'll update when I have more news!
Just an update to say that I've had my initial phone interview today. It lasted maybe 20 minutes, and the examiner was lovely. She made an effort to put me at ease, and just wanted basic information. Such as how the debt arose, what I knew about bankruptcy before I applied, when I last paid a creditor, and also for details of anything which was raised in the application, such as property sale within 5 years. I sold my house 4 years ago and used the equity to repay some debts at that time, and a little bit for furniture for our new home. She asked why the house was sold so I spoke about the sale and where the money went. I also added a creditor into the mix during my call, as I had missed them off of my application. For my reason for bankruptcy, I think she summarised this as reduced household income, and Ill health.
I also asked what I should do with a tax rebate I had received yesterday, and she said to not spend it for now, and that she would look at the regulations and let me know in due course. She thought that I may be able to keep part of it as I had 2 payments of 620 and 145, and she considered them perhaps nominal.
I also discussed a sale of stock from my business last month so that she was aware, and also that the ebay account I traded from was sold separately on behalf of my mother who's profile I had used to run my business. I explained that the money from the profile was paid to my mom although my mom is holding the money in case of any issues with the official receiver.
The call closed with the examiner sayiing that they would be in touch, and that the financial statement would be reviewed by a separate team who have recently taken over the examination of I and e figures.
Oh and for my husband, he showed a deficit of 111 against his financial statement, but was asked for ipa payments of £60. We included all sorts in the i and e, including £60 for alcohol, car lease 186, holidays 60, clothes 120, spare 30, gifts 30. I don't know where the 60 ipa has been calculated specifically, but hubby's rejected it as my income was accidentally overstated by 300 per month anyway. So we'll wait to see what they say there.
I'll update when I have more news!
0
Comments
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Spare and gifts probably not allowed which is where the £60 may have come from. Alcohol not permitted either.0
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Alcohol definitely not approved, and I don't know why it's on the form! Bizarre! The rest seems to vary case by case. Hopefully my income change will knock the ipa out of the water anyway,,,0
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