www.iva.co.uk

Hi
Can I ask yet another question. When my husband and I go bankrupt (in around 10 days) does anyone know how they will treat my wages?

My husband is redundant at the end of this coming week, he will definatley have no disposable income. He will not get any benefit as we spent 18 months in America and he has not paid his national insurance for that time, when they then look at means tested they will say I earn enough to support us.

When I take my wages and put it through the CCCS website then without paying the mortgage or creditors my wages cover everything else we need, food, utilities, council tax,water etc, with nothing left over. Will they say I only need to pay half of that and my husband has to pay the other half and therefore I have disposable income??? If that happens I do not know how we will manage as I need to support us all. (including our daughter who is in FT uni but lives with us). When we move out in to rental in December we should be able to get help with the rent - so that should be covered and still leave my pay for living on.

Dee

Hey huntersrishon, I presume BR is similar to an IVA in that you would have to pay your share of the bills in relation to your share of the money coming into the household. At the moment, as your husband isn't earning anything then I hope I'm right in saying that it looks like you will not have any disposable income to offer as an IPA. However, please wait for a BR expert to answer this for you. X

Thanks Viki, that sounds right to me. I hope it is - I dont want to slip into panic mode again!!

Dee [B)]

Ah Dee, this must be horrible for you but we're all here for you, even if we don't always know the right answers. You WILL get through this, you've come so far already. Hang in there. X

Paul Johns is your man on this, he is soo soo helpful x

The OR will look at both sets of income and expenditure forms to determine how much disposable income you both have. If this is less than £100 you will not be asked to make any contribtuions. If you have any more money than this, an Income Payments Order or Agreement may be put into place where you will pay between 50% and 70% of your surplus income on a monthly basis for a three year period. From what you have already stated, this would seem unlikely.

At the time of our bankruptcies, I was not working but hubby was, our household income was made up of just his wage and Child Benefit for 2 children, even though we have 3, the eldest is at UNI but living at home so we have to support her too although we do not get CB for her anymore as she is doing a Degree!

I put down the total household income and that I was not getting anything.

Our total disposable income was £20 but the OR told me to try and claim some benefits so the disposable income would rise and then he could try and take an IPA of about £100 [:0] This was THE most stressful part of our bankrupty, I was not entitled to any benefits even though I applied for everything. Things settled down and we heard no more about an IPA for about 5 months and then we got another IPOQ I&E form to fill in for early discharge, we filled it in EXACTLY the same as the previous time, with £20 disposable income and the OR tried again for a IPA of £50! [:0] We refused to sign it as we thought it was not fair and could not see where they were getting the figures from, we fought it and were prepared to go to court if need be but, a few weeks later we got ED and the matter was dropped! What a reflief, this put us under so much stress and pressure, it was the hardest part of the bankruptcy and we felt we were treated unfairly.