IPA Interview Question

BigMac68

Hello - after over 12 months of plucking up the courage I applied for bankruptcy on Friday - had the confirmation of acceptance on Monday and the OR called me today. During the interview I was asked about the circumstances about how I got in this situation etc. He said he had looked at my credit file and could see when the defaults etc hit. We discussed my car and the value and how I got to the valuation and he said he is happy for me to keep the car as I need it for work. I have had an email to say he does not need another interview with me - I have a few forms to sign and send back. I then need to wait to hear from the IPA team - I am sure I will have an IPA - unless something major happens in the time it takes them to contact me.

At this interview will they go through my bank statements etc and ask about transactions and question what money was spent on in the build up to the bankruptcy or are they predominantly concerned with my income and expenditure going forward ? I have tried to be realistic with my budget and when I completed this on the StepChange site they said it looked okay. Just worrying now what the next interview will entail and how long it will be before I hear from them.

Really appreciate any help with this as worrying ... ! 

luvchocolate

Things are different now..but I would imagine the IPA team are only interested in your SOA going forward 

The OR has made the decision on your car and talked through how you got in your position and advised they have everything they need 

So fingers crossed that part is sorted 

Good luck with the IPA 

Minkym00

It could take 6 weeks for your IPA assessment. They won’t go through your bank statements and will take your income and expenditure as face value.

sourcrates

How much disposable income do you have currently ?

Anything over £20, you will usually get an IPA, unless your income is benefits based, then you won`t.

BigMac68

sourcrates said:

How much disposable income do you have currently ?

Anything over £20, you will usually get an IPA, unless your income is benefits based, then you won`t.

Yes I do have disposable income so expect to have an IPA - it was more about the actual interview to go through it - would they go through previous bank statements etc and question what I spent money on ... or just really be looking forward - which I hope as I just want to move on now and stop thinking about the past 

sourcrates

BigMac68 said:

sourcrates said:

How much disposable income do you have currently ?

Anything over £20, you will usually get an IPA, unless your income is benefits based, then you won`t.

Yes I do have disposable income so expect to have an IPA - it was more about the actual interview to go through it - would they go through previous bank statements etc and question what I spent money on ... or just really be looking forward - which I hope as I just want to move on now and stop thinking about the past 

I wouldn`t worry too much about it, they are simply wanting to arrange your IPA according to your budget.

Its not about punishment or interrogation, there job is simply to set up the arrangement, and make sure you can afford it.

Bankruptcy is not to be viewed negatively, you should look upon it as a new start, not a sentence for previous wrong doing, the people who are dealing with it, are there to facilitate that, not to apportion any blame.

BigMac68

sourcrates said:

BigMac68 said:

sourcrates said:

How much disposable income do you have currently ?

Anything over £20, you will usually get an IPA, unless your income is benefits based, then you won`t.

Yes I do have disposable income so expect to have an IPA - it was more about the actual interview to go through it - would they go through previous bank statements etc and question what I spent money on ... or just really be looking forward - which I hope as I just want to move on now and stop thinking about the past 

I wouldn`t worry too much about it, they are simply wanting to arrange your IPA according to your budget.

Its not about punishment or interrogation, there job is simply to set up the arrangement, and make sure you can afford it.

Bankruptcy is not to be viewed negatively, you should look upon it as a new start, not a sentence for previous wrong doing, the people who are dealing with it, are there to facilitate that, not to apportion any blame.

Thanks for your help - much appreciated