www.iva.co.uk

HELLO EVERYONE

WE WENT BANKRUPT ON 4TH JULY 2007 And i wasn;t working but we are struggling at the moment there doesn't seem to be anymoney for taking the kids out and we are always left short. I WAS TOLD BY THE o/r THAT I DIDN'T HAVE TO PAY ANYTHING. IF I GET A PART TIME JOB NOW WILL I HVE TO PAY BACK SOMETHING NOW.
THANKS

Hi,

Not too sure, but I imagine you would have to let the OR know. It would depend on how much money you were bringing in I suppose.

Sorry to hear that you are struggling. The OR could request you make a contribution via an Income Payments Order (IPO) but from what you say I doubt it - An IPO can only be made if you have a surplus of disposeable income - I don't think you have. But you should inform him/her that you are taking on a part time job. Good luck

Hi m15,

Have you been discharged? having spent countless hours boning up on such matters I would think you have no debts to repay once discharged, hopefully an expert can confirm this? it might be worth contacting the OR who dealt with your BR

NO HAVEN'T BEEN DISCHARGED YET WON'T BE TILL JULY 2009.
WELL FROM MY HUSBAND THEY TAKE £74 A MONTH. BUT THEY DON'T TAKE BIRTHDAYS AND CHRISTMAS IN TO ACCOUNT.
THANK YOU ALL

Unfortunately they don't take these things into account. It's the same with an IVA. You are supposed to put some aside for this. Not easy when you have no money left.

If you have more than £100 surplus income then you will most likely have to pay 50%-70% (depending on amount left over) into an IPA. Whatever's left is yours to do as you want with.

Skippy is right. Normally the OR will want 50%-70% of your surplus income. As David says you will need to contact the OR to notify him of your change in circumstances and he will probably want to do an income and expenditure review with you.

If your husband is having difficulty paying his Income Payment, then he should contact the OR and ask him or her to review the agreement.