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  • FIRST POST
    • Maverick1103
    • By Maverick1103 23rd Feb 18, 3:51 PM
    • 61Posts
    • 18Thanks
    Maverick1103
    My Bankruptcy journey
    • #1
    • 23rd Feb 18, 3:51 PM
    My Bankruptcy journey 23rd Feb 18 at 3:51 PM
    Hi all,

    I recently applied for Bankruptcy last Saturday and then was approved on Monday morning, I have my phone interview booked in for Tuesday morning, a big weight has been lifted off my shoulders and will be even more so after the phone interview.

    I had a lot of creditors, 14 to be in fact, with just over 20k owing to them all and it's something I've been trying to sort out for the last year, it was even more difficult when my relationship broke down (12 months ago) and I have 2 young kids too, 12 months on and I now have a new partner who's very supportive of me and I've been able to move forward and this I feel now is me starting afresh with a clean slate!

    Now I have a question regarding the process; my I&E doesn't leave me with much left over, in fact, my budget leaves me with -29 after paying my creditors 28 per month combined, so I don't think I'll have anything to pay into an IPA, which I will find out more on Tues. Once I've had the interview will I have many more dealings with the OR at all?

    I would also like to thank everyone on here, there are many informative members on here that make people like myself relieved from certain worries when going through this process or when you receive a letter from a creditor with terminology that you just don't understand. I've not been that active on here but I've read many posts from many members and I just want to say thank you!
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    • Maverick1103
    • By Maverick1103 6th Mar 18, 2:34 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    I just want to add, as I think I've not clarified previously, these figures are solely mine, my partner doesn't work so receives benefits, these are my half of everything except Rent and Groceries where I pay more than half because I earn double to what she get's in benefits.
    • haggis0073
    • By haggis0073 6th Mar 18, 2:42 PM
    • 160 Posts
    • 118 Thanks
    haggis0073
    i think i put in around 700 for my groceries (2 adults, 3 kids) and that was not even questioned, car parking is easily 20 amonth, car maintanance is low also as is clothing, haircuts etc

    What i mean by the above is that NO IPA should be sought, i would certainly challenge the IPA for such a low amount, it would not be worth the OR taking it to court for that amount as would probably cost them more to get an IPO.

    personally i would challenge the IPA and up the groceries and make sure you go over your budget slightly
    • haggis0073
    • By haggis0073 6th Mar 18, 2:51 PM
    • 160 Posts
    • 118 Thanks
    haggis0073
    remember that just because you are now bankrupt it does not mean you are not allowed to have a decent standard of living
    • Maverick1103
    • By Maverick1103 6th Mar 18, 2:54 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    i think i put in around 700 for my groceries (2 adults, 3 kids) and that was not even questioned, car parking is easily 20 amonth, car maintanance is low also as is clothing, haircuts etc

    What i mean by the above is that NO IPA should be sought, i would certainly challenge the IPA for such a low amount, it would not be worth the OR taking it to court for that amount as would probably cost them more to get an IPO.

    personally i would challenge the IPA and up the groceries and make sure you go over your budget slightly
    Originally posted by haggis0073
    Well our groceries combined is 570 (310 + 260), I also have 2 of my own kids who stop with me every other weekend, I was thinking of contacting the OR to state that my groceries are lower than I thought, however, it's where I take the money from to add to my groceries as I feel I've cut back anyway.

    The confusing pat is the above figures show I have 5 surplus so how can the OR come up with 24? Surely that's not right or they feel I can cut back with certain things, which if I can then I'd be looking to add it towards groceries.

    • haggis0073
    • By haggis0073 6th Mar 18, 3:04 PM
    • 160 Posts
    • 118 Thanks
    haggis0073
    by looking at your SOA the only thing i can see that they may have refused you is entertainment, you should ask the OR how he came to the IPA amount, if it is due to the entertainment then simply add it towards your groceries, you are well within any kinda trigger figures so that must be the only thing that has caused an IPA IMO
    • haggis0073
    • By haggis0073 6th Mar 18, 3:13 PM
    • 160 Posts
    • 118 Thanks
    haggis0073
    By upping the amounts on your SOA will mean you are in surplus, you can then explain to the OR that you are trying to cut back on the grocerie budget (to help figures balance) but also stating that you feel the new revised grocery budget is realistic

    Did you have any debt advice during the BR procedure, if so then give your advisor a quick call/email and see what they say about the IPA, the more advice the better

    Just remember that an IPA is an agreement, if you dont agree then dont sign and certainly i would challenge it. I would be very surprised if they took this to court to get an IPO for such a low amount

    There will be more people along shortly that will know the correct procedure when challenging an IPA
    • Maverick1103
    • By Maverick1103 6th Mar 18, 3:24 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    by looking at your SOA the only thing i can see that they may have refused you is entertainment, you should ask the OR how he came to the IPA amount, if it is due to the entertainment then simply add it towards your groceries, you are well within any kinda trigger figures so that must be the only thing that has caused an IPA IMO
    Originally posted by haggis0073
    The entertainment is actually sports activities for myself, there wasn't a section.

    By upping the amounts on your SOA will mean you are in surplus, you can then explain to the OR that you are trying to cut back on the grocerie budget (to help figures balance) but also stating that you feel the new revised grocery budget is realistic

    Did you have any debt advice during the BR procedure, if so then give your advisor a quick call/email and see what they say about the IPA, the more advice the better

    Just remember that an IPA is an agreement, if you dont agree then dont sign and certainly i would challenge it. I would be very surprised if they took this to court to get an IPO for such a low amount

    There will be more people along shortly that will know the correct procedure when challenging an IPA
    Originally posted by haggis0073
    I had advice from StepChange, they wen't over the SOA orignally with me before I completed the application, they did state that certain elements were low however they believed with my -29 I wouldn't get an IPA, so I think I will call them back and see what they say.

    Am I able to email the case officer who I had the phone call with or do I need to write directly to the OR?
    • haggis0073
    • By haggis0073 6th Mar 18, 3:30 PM
    • 160 Posts
    • 118 Thanks
    haggis0073

    Am I able to email the case officer who I had the phone call with or do I need to write directly to the OR?
    Originally posted by Maverick1103
    i would have to let someone else help you on that bit as not sure sorry, someone will have the answer i'm sure
    • Maverick1103
    • By Maverick1103 6th Mar 18, 3:46 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    i would have to let someone else help you on that bit as not sure sorry, someone will have the answer i'm sure
    Originally posted by haggis0073
    No problem, thanks for your help on this. I've just emailed the case officer anyway as would've thought this day in age communication via email would be acceptable.
    • Gaz1
    • By Gaz1 7th Mar 18, 9:56 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    Hi all does my soa have to match up with the figures i gave in the initial form or does it have to go more in depth as i left out the debt payments or what would have been my current outgoing outweigh my income by 200 per month
    • Maverick1103
    • By Maverick1103 8th Mar 18, 8:04 AM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    Hi all does my soa have to match up with the figures i gave in the initial form or does it have to go more in depth as i left out the debt payments or what would have been my current outgoing outweigh my income by 200 per month
    Originally posted by Gaz1
    Well when I completed my application my SOA only had a payment to a CCJ and HMRC overpayment, all my other creditors I left off.
    • Gaz1
    • By Gaz1 8th Mar 18, 1:04 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    Ive received my paperwork today and there is no soa in there but 3 forms i have to sign and return a TNIDIS, NTB2 and DPADA so what does that mean as ive got my phone call tomorrow at 1pm
    cheers gaz
    • Maverick1103
    • By Maverick1103 8th Mar 18, 1:34 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    Ive received my paperwork today and there is no soa in there but 3 forms i have to sign and return a TNIDIS, NTB2 and DPADA so what does that mean as ive got my phone call tomorrow at 1pm
    cheers gaz
    Originally posted by Gaz1
    The SOA should be completed during the application process, that's when I did mine, that paperwork is basically for your granting permission for the OR to act on your behalf etc.
    • Gaz1
    • By Gaz1 8th Mar 18, 3:51 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    The SOA should be completed during the application process, that's when I did mine, that paperwork is basically for your granting permission for the OR to act on your behalf etc.
    Originally posted by Maverick1103
    Before i go on i just want to thank everyone for all your help and advice it is much appreciated.
    so when you say during the process would that be during the phone call or after soz if i sound a bit thick.
    Many Thanks.
    Gaz
    • Maverick1103
    • By Maverick1103 8th Mar 18, 4:30 PM
    • 61 Posts
    • 18 Thanks
    Maverick1103
    Before i go on i just want to thank everyone for all your help and advice it is much appreciated.
    so when you say during the process would that be during the phone call or after soz if i sound a bit thick.
    Many Thanks.
    Gaz
    Originally posted by Gaz1
    You should've already completed the SOA when doing the application, the case officer will go through it a bit during the phone call and then get back to you, that's what happened to me.
    • Gaz1
    • By Gaz1 8th Mar 18, 5:30 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    You should've already completed the SOA when doing the application, the case officer will go through it a bit during the phone call and then get back to you, that's what happened to me.
    Originally posted by Maverick1103
    oh right so ive already done it ok then thank you.
    • Gaz1
    • By Gaz1 8th Mar 18, 7:49 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    does anyone know how long we are under the ORs umbrella for from start to finish, obviously from the date our bankruptcy application is accepted but for how long after we are discharged
    thanks Gaz
    • haggis0073
    • By haggis0073 8th Mar 18, 8:27 PM
    • 160 Posts
    • 118 Thanks
    haggis0073
    once discharged then thats it, so usually 12 months after the BR date you will get discharged, unless under a BRO/BRU

    Also the OR can only impose a IPA/IPO within that 12 months, after which you can earn what you like
    • Gaz1
    • By Gaz1 8th Mar 18, 11:09 PM
    • 33 Posts
    • 5 Thanks
    Gaz1
    lol im abit lost or thick whats a BRO/BRU
    • LaLaLa34
    • By LaLaLa34 8th Mar 18, 11:17 PM
    • 13 Posts
    • 7 Thanks
    LaLaLa34
    If you've acted over irresponsibly or dishonestly, eg using large amounts of credit while being insolvent OR not communicating with the official receiver they can impose a BRU/BRO. You would still be discharged after 12 months as normal but the restrictions of bankruptcy can imposed. Usually they are 3 to 4 years, if you've been really naughty then it can run for up to 15 years. Tbh looking through BRU/BRO orders, 6 years and above are for people who have acted fairly dishonestly eg hiding assets from the OR.
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