Following a uk bankruptcy order

[james.m]

1.Following a uk bankruptcy order is money in a joint account [where one name on the account is the bankrupt] but into which it can be proved the bankrupt has deposited NO money protected from the bankruptcy proceedings ?.

2.What are the current stated guidelines for calculating the amount of an IPA relative to surplus income following deduction of essential living expenses ?

[Skippy]

Hi James and welcome to the forum.

I can't answer your question about the joint bank account, but one of the experts will be able to answer you soon.

Regarding the IPA calculations, I posted the OR's table on another post this morning - 'Struggling to even manage the IVA payments'.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[DebtDummy]

hello james,the IPA is established by the OR using a table which Skippy (hello) has posted.It's based on a percentage of the surplus income you have left after all of your essentials/expenditures have been deducted from income. As to the bank account all bank accounts which have your name on them, even joint accounts you never use, will have to be listed on the petition. Is it possible to simply have your name removed from this account since you never deposit any funds into it?

There is a sister site for bankruptcy information that you may find helpful.http://www.bankruptcyhelp.org.uk
Take care

All I have left is my humour.

View my blog http://www.debtdummybankruwoman.blogs.iva.co.uk.

[MelanieGiles]

Hi James

The "techncial" answer to your query is that the money held in the joint bank account is held to the order of both account holders, but the non-bankrupt party could argue their position with the Trustee on the basis of proof of deposits and payments out.

With regard to the calculation of monthly payments under an IPO or IPA, please note that this is entirely at the Official Reciever's discretion, and the able that Skippy is referring to is a guideline but not set in tablets of stone.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk