Pension after bankruptcy

luvchocolate

Don't forget the ORs fees which get paid first...these can be very substantial 

Minkym00

At the end of your IPA the OR will claim a 15% distribution fee from  the funds that have been collected. Then claim £8k of what’s left in admin and general fees. Then the remainder is distributed to your creditors. In your case that will be less than £6k. 

luvchocolate

It's worth mentioning the ORs fees vary depending on circumstances. 
Mine included a repossession and a non complying ex.
ORs fees were just over £24,000

Minkym00

luvchocolate said:

It's worth mentioning the ORs fees vary depending on circumstances. 
Mine included a repossession and a non complying ex.
ORs fees were just over £24,000

Sounds like there was a trustee and they obviously have their charges too. 

emjay23882

I've been told they can claim a % of your lump sum. Shouldn't it depend on what is owed to the creditors. 

Minkym00

It is claimed depending on how far in to your IPA you (as per my previous response). But if there is anything left over after debts and fees are paid, you will be paid the balance. 

emjay23882

OK, is there any way of finding out what the fees may be. 

emjay23882

Hi Minkym00, just noticed your earlier post.. Does the 8k and 15% apply to all circumstances.