Bankruptcy today

SkintSquaddie

I've managed to get my fees together for my bankruptcy today however I'm currently unemployed so I know an IPA won't be set up against me however as an example if I got paid 1500 per month and I had 500 in agreed outgoings with the OR what would likely be the IPA repayment as I'm reluctant to press the button if it leaves me still scrimping and scraping

Thanks

sammy32683

You put down reasonable expenses. So shopping, clothes, petrol, small amount of savings, medical, parking etc so you are living comfortably as they don't want you to get in the same situation. 

Anything left over will go towards debts until they are cleared along with the OR fees. 

So if you earnt 1500 and you really only had 500 outgoings they would take 1000. 

SkintSquaddie

sammy32683 said:

You put down reasonable expenses. So shopping, clothes, petrol, small amount of savings, medical, parking etc so you are living comfortably as they don't want you to get in the same situation. 

Anything left over will go towards debts until they are cleared along with the OR fees. 

So if you earnt 1500 and you really only had 500 outgoings they would take 1000. 

That was just like layman's terms so it might be different but obviously I contribute to half my partner's bills as the house is fully in her name bought before we was together and it's roughly 500 but that doesn't take into account shopping and clothes etc just the basic household costs 

SkintSquaddie

I've taken the dive paid and submitted pretty nervous now though

george_112

It’s done now, time for a fresh start! I’m only 2 weeks in but starting to feel better and haven’t worried about money since 

SkintSquaddie

george_112 said:

It’s done now, time for a fresh start! I’m only 2 weeks in but starting to feel better and haven’t worried about money since 

That's good to know how long was it before you was accepted

george_112

It was done by 10:30 the next morning. I had a letter 4 days later saying no interview needed and a quick call agreeing my expenses took 10 minutes 

SkintSquaddie

george_112 said:

It was done by 10:30 the next morning. I had a letter 4 days later saying no interview needed and a quick call agreeing my expenses took 10 minutes 

How do they set up an IPA if you don't need an interview

mwarby

If they think you are suitable for an IPA they will get in contact. You are obliged to inform them if your circumstances change, eg earning more money. In case george_112 the SOA was gone through extensivly here, and the figures at the end didn't suggest an IPA was viable, which is perhaps why there was no interview

george_112

mwarby said:

If they think you are suitable for an IPA they will get in contact. You are obliged to inform them if your circumstances change, eg earning more money. In case george_112 the SOA was gone through extensivly here, and the figures at the end didn't suggest an IPA was viable, which is perhaps why there was no interview

Yes they just called to check I wasn’t furloughed and was receiving my usual wage. She then said she’d just be asking for £30 that would have been done one the council tax payment. 
The OR dealings have been fine so far, it’s the bank that’s the pain in my case! 

SkintSquaddie

george_112 said:

mwarby said:

If they think you are suitable for an IPA they will get in contact. You are obliged to inform them if your circumstances change, eg earning more money. In case george_112 the SOA was gone through extensivly here, and the figures at the end didn't suggest an IPA was viable, which is perhaps why there was no interview

Yes they just called to check I wasn’t furloughed and was receiving my usual wage. She then said she’d just be asking for £30 that would have been done one the council tax payment. 
The OR dealings have been fine so far, it’s the bank that’s the pain in my case! 

I got laid off due to this covid 19 not furloughed full on binned off so I'm only living off job seekers for the time been. The banks are my issue too as one of my accounts is where my benefits go. It's already a basic bank account so I'm hoping it remains open