The Man from NR he say............................

[BlueShoes]

Sadly our car is worth quite a lot more, so in BR it would no doubt go. As I need a car to do my job, and to get kids to school(3 miles away, no direct public transport links) I am assuming we would get an allowance for a new one?
Blue

[Skippy]

If you can prove that you need the car for work you will be given an allowance for a cheaper car and yours will be sold. Sadly the OR doesn't class taking the children to school as a necessity...

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/

[Skippy]

If you can prove that you need the car for work you will be given an allowance for a cheaper car and yours will be sold. Sadly the OR doesn't class taking the children to school as a necessity...

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/

[BlueShoes]

Thanks Skippy
I would be unable to do my job without a car, and the route I would need to take to get the children to school would mean we would need to leave at 6 in the morning! I am surprised that getting your children to school isn't seen as a valid reason. The schools which are nearer to us (ie walking distance) are all full, and we would not be able to move our kids into them even if we wanted to!
Blue

[fudge34]

Thanks its nice to hear someone that has gone through the process and out the other side - I was talking to my husband last night about it and he thinks we should just do it - need to get some clarifcation on the house front I need to know without doubt really that he will be able to buy me out of my interest next year as I cannot lose the house as I have a baby etc so with that in mind need to sort that out - can I ask what your debts were when you applied for a BR order and how much you pay back? I owe currently 60 grand (As you know NR are the main creditor) and I wondered how much I would have to pay back over 3 years - on my IVA form it has surplus income of 300 per month thanks so much! you are stars and this forum has helped me no end

[pippa]

Fudge34

There is an IPA scale on the forum, which gives a good idea of how much you would have to pay. Also you need to review your expenditure as its possible it may be a little bit more generous in BR.
I am expecting to lose my car, its worth approx 2.5k so have resigned myself to that going, along with the house. My daughter is due to start college in Sept so will qualify for a student bus pass and we are currently living not far from a direct bus route to the town centre where I work.
I am going in to see my IP today to review my options as a result of the IVA being rejected, will let you know what their suggestions are later.
Take care

Pippa

[fudge34]

Thanks Pippa. I wish NR could see what effect they are having on people and more than that themselves as people like you and I who want to pay back the debt are in no postion to do so. Good luck with your IP and I hope that they can come up with a good solution for you. I am sure it will all be OK let's be positive!

[Skippy]

Hi Fudge, my debt was around £65k with very little to show for it. My surplus was agreed at £310, and I pay £186 per month into my IPA. I have posted my expenditure allowances on my blog, but obviously these will be different for everyone. I have also posted my IVA allowances for comparison.

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/

[pippa]

Skippy13

How have you found living on your BR allowance,is it realistic and do you find you can manage well on it? They gave you a holiday allowance too, thats great.

Pippa

[Skippy]

I haven't got loads of money each month, but I have enough to live on, and to pay my share of the bills. They allowed me £20 per month holiday allowance which really surprised me, although they wouldn't allow my contingency fund!

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/

[fudge34]

And its better than trying to find the money every month for an IVA I am guessing?! Did you find an IP from this site I wonder whether to ask whether my current practioner who did my IVA would take on this as well - would like to try and get this wrapped up asap oh teh stress of it

[Skippy]

You don't need an IP for bankruptcy. I filled the forms in online and went along to my local court - you will need to check if you have to make an appoinment or if they have a walk in system. The fees are £485 per person, although some of that can be waived if you are on benefits.

I was asked by the judge if I had taken professional advice and I could answer yes as my IP had advised me that BR was my best option. Have a chat to your IP and see what they say.

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/

[fudge34]

I know this sounds a bit silly as well sorry but I wanted to double check a few things about BR before I committed myself to it - do you have a chance to do this when you submit your form am just worried about the house really some websites say you can buy back your interest and others say you lose your house so I wanted to make 100% sure before I did anything!
sorry I keep going on and on on

[accgroup]

My experience is that the Official Receiver or a trustee in bankruptcy would only seek an order for possession and sale of a bankrupt's property as a last resort and that they give the bankrupt and/or their family every opportunity to reach an agreement prior to taking this step.

Andrew Wilkinson
Insolvency Practitioner

AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

[fudge34]

Thanks Andrew! need to contact you will do that tomorrow thanks!