Bankruptcy

[Cregeen5373]

I am currently bankrupt as from nov 2010 i have to pay weekly for 3 years . I am currently living with my parents but we have had a severe disagreement and are kicking me out can i rent a property while im bankrupt

[IF]

Re: Bankruptcy

Hi Cregeen5373 and Welcome, yes you can rent a property and claim for your utility expenses too. As a result your IPA may be reduced.

Best wishes
If...x

[Cregeen5373]

Re: Bankruptcy

I daint think i cud get in more debt as my bankrutcy will not end for another 2 and alf years

[philnicandamy]

Re: Bankruptcy

Nothing to stop you getting credit IF you can it'll be difficult sure but not impossible

Remember to speak to your receiver / moonbeever though as IF said your statement of affairs will need to reflect your change in circumstances meaning your IPA arrangement could be reduced or even frozen depending on what surplus you had left after your living expenses every month

[IF]

Re: Bankruptcy

Hmmm did you pay your parents any board?? Maybe you could rent a room at a friends house?? We would not encourage you to live beyond your means, so a reasonable rent would need to be paid.

[philnicandamy]

Re: Bankruptcy

and if its November 2010 then you should fall under the older more gen rules regards IPA's

[Cregeen5373]

Re: Bankruptcy

I went to court in november 2010 but moonbeever didnt get in touch till march 2011 wats the ipa rules u was on bout

[Cregeen5373]

Re: Bankruptcy

I do pay my parents rent at the moment but its not alf wat it wud cost for me to rent on my own

[philnicandamy]

Re: Bankruptcy

Have a look at the area see how much it's likely to cost

[Cregeen5373]

Re: Bankruptcy

Wud the old ipa rules make a diff to me bein able to move out i paid debt release to do my paperwork for the bankruotcy and they advised my that itll all be dun in 12 months and i wudnt have to pay anything but wen the reciever contacted me i was told i ad to pay weekly and it wud take 3 years

[IF]

Re: Bankruptcy

I am sorry you paid for someone to do your paperwork as we always advise you to see a Debt charity first they are free and impartial.

Have a read, click on links below re IPA's:-




Income Payment Agreements/Orders.

• Changes for new IPAs from 1st Dec 2010 - Click here
• IPO / IPA (Income Payment Orders and Income Payment Agreements) (IS)
• Annex A – Assessment of real disposable income where the bankrupt's income is derived in part from state benefits
  Annex B - Guidance on the assessment of real disposable income where the official receiver seeks to claim a lump sum payment
• Income payment agreements (IPA)
  Spreadsheet showing average UK spending calculated from the Office of National Statistics publication ‘Family Expenditure Survey’
• IPA calculator Pre 01 December 2010
• IPA calculator Post 01 December 2010

[Never-In-Doubt]

Re: Bankruptcy

Any update here - happy birthday