Thanks Melanie - Good News (at last)!!!

[BrassicLintus]

Hi all, Melanie many thanks and can you pass on my thanks to Suzanne (can you also thank Tina for taking the time to contact Suzanne beforehand to let her know I'd be phoning). I took up your kind offer and contacted her last week for a bit of advice. And it's good news!!! I've just heard from the OR that I can keep my car if I can come up with £3500. My car was valued at £6500 - and a friend was able to come up with £3000, so I just have to find another £500. Also regarding my IPA, the OR calculated my surplus based on the last 3 months payslips (which included a lot of overtime), and came up with a figure of £531 surplus so an IPA of £350 per month!!! When in reality my surplus (thanks to yet another mortgage increase!!) is now only about £20! I didn't want to sign the IPA agreement forms stating that I agreed to pay £350 because I knew I just couldn't afford to pay it. So I contacted the OR and explained and he said to send in as many payslips as I can and they'll review my IPA. So hopefully they'll be able to come up with a more realistic figure. I don't mind paying an IPA - just want to pay what I can afford though - otherwise I'm back to square one!!!! Quick question - can you vary an IPA from month to month? For instance there's no major overtime available in the forseeable future (usually tends to be in the summer months) so if I don't work overtime then I don't have any surplus. But if overtime became available could I pay in say half of that months overtime (as in an IVA)? Just a thought.

[BrassicLintus]

Another quick question regarding the BI in my house. The OR as asked for a written valuation and up to date details of the amounts owed to creditors claiming mortgages and other charges over the property. I have my mortgage redemption statement and my secured loan statement which I obtained in August (in preparation for the BR), so could I just use these statements again? Or do I need new ones? Cheers.

[pippa]

Hi Brassiclintus great news on the car

Not sure about the OT, I always thought they did not take sporadic Ot in to account, but your situation doesnt seem to follow this theory. Hopefully some one a bit wiser will be along shortly

Pippa

[Skippy]

Hi Brassic, sorry, I can't offer you any advice but I just wanted to say I'm glad you're starting to get things sorted out x

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/

[BrassicLintus]

Thanks Pippa n Skippy. It is a weight off my mind knowing I can keep my car. My job relies on me being able to get to work ontime and I could face the sack if I'm late (lost count of how much I used to have to spend on taxis and hire cars when my old banger used to play up!!!) Still have to come up with the £500 and i just said yes to the OR because I was so relieved - didn't think to ask my friend first!!! Some serious bribery is in order me thinks!!!! But the OR probably thought that seeing as my surplus income is £531 per month I could afford it (not!). Still 1 problem down - 2 to go! Jane - if you're online - how are you doing? Have to managed to sort out your IPA problem yet?

[scaredkez]

brassic the or will not fluctuate your ipa each month for the overtime it is too much messing about for them, they would only change it if it was guaranteed income which it isn't good luck with it and well done with the car, know how it feels was so glad when my mum and dad bought mine back for me, which has been a god send really as hubbies has been off the road failed its mot and of course we don't have the funds to get it repaired at the mo so i am juggling work round him,very understanding boss luckily!
all the best
kerri

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

[jane.l]

Glad you are getting things sorted out! No, I have not heard back yet from OR about an IPA. I did have my appointment at the Benefits Office, as suggested by the OR, but I am not entitled to anything, I am not eligible for Income Support as I live with a partner who works, I am not eligible for Job Seeker’s Allowance as I have only ever worked part-time and so have not paid enough NI contributions! I did leave a message with OR to tell him this, so I am still waiting to see if they are going to try to go ahead with the IPA of £100 per month, even though OR told me our surplus is currently £86.56!!!![:0]

[johnpaul]

hi there i am so very pleased for you sorting it out well done glad you kept the car

JOHNPAUL

[MelanieGiles]

Great news - and glad that we were able to help. Suzanne in my office is a mine of information about bankruptcy - she probably knows more than I do!

Kerri is right about the IPA payments - once a figure is agreed it generally tends to stick, and your property and mortgage papers ought to suffice with regard to the OR's needs.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[BrassicLintus]

Thanks everyone. I understand what Kerri and Melanie are saying regarding overtime, but as Pippa said I thought that they would only take into account regular overtime (and I don't class 6 days overtime in 1 month out of 9 as regular!!) Still, will send off all this years wage slips and wait and see! Jane, you sound a bit more positive than last week, so hope you're feeling a bit better and not stressing too much. Kindest regards to all.

Sam
x

Sam
x

[douglass]

Hi Melanie, I hope you are well. Could I ask you a question please? In your experience, am I likely to get a BRO, becasue I ran up half of my debts in an 18 month period? Also, because I withdrew lots of cash on my credit cards over this period I cannot prove what I did with it (which, to be honest, was usually drinks, dinner, clubbing with friends and hangers on (!) taxis, etc).
I am worrying myself sick, I think it's fear of the unknown - until now I haven't missed a card payment, and have never set foot in a court.
Thanks for listening. D.

[MelanieGiles]

It is hard for me to say douglass, without more detailed knowledge of your circumstances, but what the OR will look at is whether you borrowed money without any reasonable prospect of repayment. If they feel that you did, then an BRO is possible.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[BrassicLintus]

Douglass, even if you do get a BRO, all it will mean is that the restrictions placed on us as undischarged bankrupts will apply for longer. To be honest it wouldn't really affect you that much. So try not to worry too much, just be honest with the OR. He will ask how you thought you could pay the money back - and what you used the money for - but again just answer his questions as best you can. And the BR courts aren't like the criminal courts like you see on the TV - the people there are generally very kind and sympathetic. Have you got your BR date yet?

[douglass]

Melanie & Brassic - thank you so much. I have a provisional date of 17th October, but maybe able to get an earlier cancellation, if my pension statement comes! Its just so stressful at the moment, as I am sure everyone here can appreciate, as almost everyone here has been through it too. Thanks again guys - I really appreciate the help, advice and support you all provide. D.

[lily]

Hi Douglass

Good luck with the BR, I know this is a difficult time for you, hang in there, it will be so much better for you on the other side of this.

lily