income payments order

[kcl]

is my Child Benefit included in my income when deciding if I should have an income payments order?
Also my mortgage is £1124 per month but I have been told that only £700 can be taken into account as an expenditure. (I have 2 dependant children.) Is this correct?

[hara]

No.

IF you have been told by an IP,YOU better change your IP, as there could be potential problems if your IVA goes through.

As you will be tied down for 5 years and have to deal with the same IP

Hara

[hara]

Child Benefit will have to be included.

You can onclude all full amount you pay for mortgage.

hara.

[pippa]

Hi KCL

I assume you are refering Bankruptcy IPA, my understanding is that any working tax credits or child benefits would need to be listed but would not be included as income when calculting if an IPA is to be made as this money is for the child/children. Any expenditure you list for school meals etc may not be accepted as it is possible that this would have to be taken from your child benefit but would depend on the amounts, this is only my view.

In an IVA it is included in calculating your income.

I have not yet petitioned for BR but I have at no time been advised that my mortgage payment is too high, no one has mentioned the £700 limit.



Regards

Pippa