IP taken over as trustee

newstart123

Hello all,

This is my first post so please forgive me if I waffle.  I was declared bankrupt back in November 2022.  Had interview with OR and IPA assessment  with no IPA set. My case was then taken over ant the end of January by an IP due to my name being associated with my husbands business that is in liquidation. He has also been declared bankrupt.

The new IP then sent me their own questionnaire and forms to fill out followed by a whole new budget sheet.  I sent everything  back in February and haven’t heard from them since after ensuring they had everything they needed.  This week (end of June) I contacted them to adjust my our energy budget and I am now being hounded for more information.  I have also queried the fact that they have not yet provided us with the option to buy back our Life Insurance (which the OR said we were candidates for) only to get a response stating that the IP does not allow Life Insurance in the budget.  My husband only has 3 months left of his bankruptcy so this all feels very last minute to me.

I have been somewhat affected by this whole process and the time leading up to it and anxiety is high therefore coping levels low.  I have made their clear to the IP and they just don’t seem to care. I have already been interviewed and assessed for income and given advice from the OR that does not sit in line with theirs. I was under the impression that they all had to follow similar rules?

My husband has also had issues with them, sending them payslips and budget multiple times but then getting letters through the door threatening the delay of discharge.  I seem to get a sense that they really forget that we are real people at the end of these written communications.

I was just wondering if it was worth complaining or whether there is just no point.  Also if anyone has any experience of been set a no iPA to be assessed again/life insurance policies in bankruptcy.

Thank you for sticking with that if you have made it to the end!

newstart123

Sorry for the terrible grammar/spelling. I was literally shaking writing this.

luvchocolate

Hi I had my appointment with OR and SOA was agreed..no IPA and kept my car. 
A trustee was then appointed due to properties in my sole name. 
We met and gave me new budget to write down. 
Gave them copies of the approved ones from the OR and they accepted those. 
Sorry you're having problems. 

newstart123

Thank you for taking the time to reply.  

It is interesting to hear others experiences and how vastly different each individual case is. 

I have mentioned on many occasions to them that my budget was approved and not unreasonable. The IP have stated that they have to do their own budget assessment and are querying things that the original assessor said were absolutely fine.  

sourcrates

Usually a simple bankruptcy is nothing to be feared, they normally pass off quite smoothly.

The fact you are associated with your husbands failed firm has complicated matters, the appointed IP seems to be nit picking, but that is likely what he is being paid to do.

Sorry for the problems you are going through, discharge is only 5 months away, so it won`t last forever, focus on that.

Minkym00

With regard to the life policy, there are two issues –

 

1.       The IP has so far not allowed you buy it back. The only reason would be if it has some value and was an asset, but it’s only an asset whilst premiums are being paid and they’ve said they won’t allow this as an expense. This is unusual and should be queried.

2.       The IP is incorrectly not allowing insurance premiums as an expense. See section 35.63 here Technical guidance for Official Receivers - 35. Income Payment Agreements and Orders - Guidance - GOV.UK (www.gov.uk)

 

It’s worth noting that signing an IPA is voluntary and enforcement can only come via an Income Payment Order issued by the court (and even then it would take an Attachment of Earnings order to enforce payment). The IP will not want to pursue this through the courts, but could ask the OR to do it. Anyway, if you point them to the technical guidance that may sort matters.