Re First BR payment

[swardy73]

Hi there,

I have BR appointment for 25th July. I get paid on wednesday and will set aside the £485 straight away i need (taken from what would have been my IVA amount). I have 3 lots of copies printed off after completing the on-line BR forms. I cannot believe that i went through the forms about 10 times before submitting them, and it wasn't until i had printed them off, i realised i had input my Surname as my middle name!!!!! Doh! I have had to go through the 3 lots of forms to manually alter my own name!
Anyway, everything is in place to petition my own BR after i cannot afford the IVA payments after 15 months, but one question please for anyone who has gone through BR.
If everything goes ok on the 25th July, how long does it normally take for the first BR payment to be paid?
I started at Think Banking once my IVA started, and they pay out my direct debits once i have been paid and transfer the rest to my 'B' account, and that is my own money. I had my IVA set up as D/D, and Think Bank also paid this out on day i was paid. My IP told me she has cancelled my D/D and also cancelled it with Think Banking (as my IVA company work together with Think banking) and told me i could still use Think Banking which i am pleased about as i didn't want to mess about setting up new bank. I presume i can set up D/D also for BR through Think Banking.
Hopefully, will soon be in control of my finances (for the first time in about 12 years!) and can say goodbye to the credit for ever!!!!!

[scaredkez]

hi swardy it takes a couple of months for them to set up your IPA, you will also get nil tax code which takes 2 months to go through, be careful you get paid the tax and have to forward it on to the OR, once you have had the meeting with the OR they will be able to tell you what your IPA will be. they don't back date the payments your 36 months start from the first payment date so don't worry about that either.
don't worry about the court day that is very straight forward and minimal questions are asked by the judge.

good luck
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[swardy73]

Hi Kerri,

Thanks very much for quick reply. I will watch out for the tax code changing. My IP said she would cancel my IVA straight away and let my creditors know (this was on thursday 12th July). I made my appointment for BR on same day and this is 25th July. I'm hoping in the thirteen days that my creditors dont start chasing me again!

[scaredkez]

my tax office notified me of the change so i knew when it would happen, unfortunately they didn't notify hubby so we have to wait until he gets all his wage slips together to see when it took effect, by time your IP has sent all the correspondence out and the creditors start acting on it you will probably be BR, i still have one creditor chasing me even tho they have been told i am BR but i don't let them bother me now as i know they can't touch me!
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/