Interview with OR

[Dee]

Good evening

I had my interveiw tonight from 5.30-7.00. Although we have both gone BR the OR's assistant was happy to speak to just me with the agreement that I would advise my OH of the conversation.

First we did the assets.
He confirmed that I could keep my car - although I dont work too far from home I have to drive my children to the childminders before I go to work which would mean 4 buses a day and would increase my childcare costs due to the bus times. Its only worth £500. My husband can keep his motorbike as he needs to work odd hours sometimes that too is worth £500.
He said he would get back to me tomorrow regarding the house. We do have quite a high mort and sec loan but he figured the cost of renting would only save about £200 so he was happy to recommend that as it is in neg equity and we could get someone to buy BI then we could keep it (he'll confirm tomorrow when he has spoken to his boss)

Then the Debt
Oh my word how hard is that to explain away when he estimated that we had consolidated about £60k over the last 3 years with nothing to show for it.He was really understanding though and said that he could see how it had happened (I'm glad he could cause I'm not sure I can). We went through the whole saga from my OH being made redundant to my PND causing longterm sick. We got there in the end and he said that he had built up a good picture as to how we had ended up today.
He included our Tax credit overpayment and said that they would continue to reduce our payments until discharge then they would have to cease the reduction. He also included our Elec Bill and said that as we were on a meter and paying in back as we topped up, we should call them and advise of the BR and ask for a recalculation and that the arrears be knocked off. (Thats one I dont feel guilty about [}:)])

IPA/IPO
No IPO [:D]
Income = salaries and tax credits ( not child benefit or maintenance)
Outgoings =
Mort/Sec Loan £920 (hopefully allowed)
Housekeeping £550 (allowed)
Gas/Elec £127 (allowed)
Water £44 (allowed)
Telephones £75 (allowed)
Travelling-work £213 (allowed after explanation)
Clothing £60 (allowed)
Council Tax £85 (allowed)
House ins/reps £40 (allowed)
Sky £38 (not allowed)
TV Licence £12 (allowed)
Family activ £35 (allowed)
Holidays £100 (£50 allowed)
Dentist/Opt £14 (allowed)
Prescrits £10 (allowed)
Hairdressing £19 (allowed)
Childcare £80 (allowed)
Kids Spending £30 (not allowed)
CarIns/reps/tax£101 (allowed)

Result = NO IPA and indication of early discharge.[:D]

Sorry for the long post just wanted to people know how I got on and hopefully it will help someone.

Glad its over and I have to admire those of you in an IVA (although I would have seriously considered it if it was an option), because having come out the other side such a short time after the reality hit home I feel blessed.

The guy on the phone was so lovely and it felt like a very informal chat. I told him what a star he was.

Thanks to everyone who has supported me including Melanie and her team when I was looking into an IVA.

Dee
XXX

[Skippy]

I'm glad it went well Dee. I found it was nowhere near as bad as I thought it would be. Fingers crossed you get ED!

[MelanieGiles]

That's a lovely post Dee. I remember your case, and the emotional struggle you had between wanting to pay your creditors back, and needing to support your daughter at university. You made the right choice, and your post should stand as an example to anyone worried about going down the bankruptcy route - it really is not as bad as it is made out to be, and brings complete debt freedom at a much earlier stage if the circumstances are right.

This must all now be a great relief for you Dee, and I wish you luck into the future.

[Dee]

Thanks Melanie

I do feel very relieved and also extremely grateful that I found this sight.

Looking forward to meeting you next month [:)]

Dee

[Viki.W]

Hey Dee, so glad it went well for you, hopefully you can move on now....no more tears! I'm coming to the FF next month so look forward to meeting you. Viki X

[Dee]

Thanks Viki
Looking forward to meeting you too x

By the way more good news today we can keep the house, just need to sort the BI out.

Dee

[Viki.W]

Dee, that's BRILLIANT, what a relief for you. You're getting there! Viki X

[Moneystinks]

Dee I'm glad things are panning out for you.

XX

[kallis3]

Glad everything is working out Dee