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removingtheshackles

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  1. I was made bankrupt end of April and following on from my interview with the OR I have entered into an IPA for surplus income and NT tax code. I have still not received the paperwork to set this up and the OR told me not to worry about the payments until the paperwork came through. Does it normally take this long? Does anyone have any experience of this? Also, I just wanted to clariy a point. I know I have a duty to inform the OR of a change in my financial circumstances for better or for worse within 21 days. Is this obligation only relevant to the term of the bankruptcy i.e. 1 year (unless granted early discharge) or is it relevant to the entire duration of the IPA (3 years)? Many thanks in advance!
  2. andyr666... You were keeping an eye on this thread & I just wanted to give an update. What I ended up doing is a statement of affairs broken down into three columns: a total, my contribution, partner's contribution. I included EVERYTHING and was honest about all the expenditure in our household. After all, you may be asked for proof so there's no point in exaggerating figures. I also tried to keep in line with the Household Expenditure Spreadsheet which the Insolvency Service refer to. I had my interview with the OR yesterday. She said she found the way I laid out the income & expenditure helpful for her purpose. It gave an overview of our household which helps to put my contribution into context but she was primarily interested in what I contributed to it. My partner's expenses were not brought into question as I had made it clear from the breakdown that I did not contribute to them. The upshot of it is that an IPA will be put in place (which I was expecting anyway) for the next 3 years and I will also be required to pay what would have been my Income Tax to them as well for this financial year when I go to an NT code. Because I was honest, factual and clear in the information I gave, I had no nasty surprises. I was expecting the IPA and knew about the NT code IPA as well. The OR made it clear that the IPA can be reviewed at any point in the next 3 years and she suggested I keep receipts for certain elements of my expenditure. I also have a duty to inform them within 21 days of a change in circumstances (for better or worse). I would strongly recommend that you take appropriate advice as to the best course of action for you. Do your research! Although I was very worried about getting my partner's expenses involved, I'm glad that it's all out in the open. We are afterall a joint household and his income and expenditure is relevant. Thank you to everyone who made a contribution to this thread - much appreciated.
  3. In my SoA which was presented with my petition, I put down our total joint expenses plus my sole expenses for which my partner is not responsible. In my income I put my total income plus my partner's half share towards our joint expenses. Whether I divulge all or nothing makes no difference to my surplus income as I do not contribute towards my partner's high petrol expenses, sky subscription, child maintenance payments, etc. I'm happy to provide either SoA as the end result is the same. My expenses are in line with the basic guidelines anyway so even if they adopt a 50:50 position, it works out the same for me. What I have an issue with is that their reasoning for a total SoA is purely because the car belongs to my partner and I contribute towards half of insurance, tax & servicing although it is legally not mine. I do however use it 95% of the time. What I have decided to do is provide them with a breakdown of our total household income and expenditure and our individual contributions to each element of expenditure so that they can see exactly who contributes to what and in what proportion. I just don't want to get my partner involved with them going through his income & expenses because he would not be a happy bunny. He is self-employed and hasn't been for long so his income figures are a best estimate. What sort of proof can I provide to verify his income figures? Also I am doubtful that he would be happy to. First and foremost this bankruptcy is about ME and the debts I incurred over the last 12 years. I want to keep him out of it!
  4. imageplayer...my *understanding* is that student loans are not taken into account as income but neither can they be 'written off' as part of a bankruptcy or DRO. Don't just take my word for it though - look into it a bit more. Good luck.
  5. Thanks for that. That's fair enough & I'm quite happy to provide the total household income and expenses. Are they however also expecting my partner to live by their definition of what is reasonable expenditure? For example, I would quite happily live without Sky. It is not essential expenditure and quite right that I should not be given allowances for it. He would not be happy to live without it. He also works as self employed, meaning his mobile & petrol costs are beyond reasonable for a family of four but they are reflective of his true expenses. His contribution to the household expenses is higher to compensate for his extravagances. Would the OR insist on such expenditure being cut? Also, would they want to investigate his income and expenditure? That would go down like a lead balloon with him :-|
  6. I have started a new thread as I was going off topic. Just wanted to come back to this thread & thank those who gave me some input back in September as it really helped & I am very grateful. Gaz, I hope things are going brilliantly for you!
  7. I desperately need some advice on how to approach this... Background - We are a household of 3.5 people (2 adults, my aughter (under 16) & my partner's son (under 16) on a half share custody type thing. We also have 2 pets. I don't ask my partner for contribution to my daughter's expenses, neither does he ask me for contribution to his son's expenses. We both work but are just above the threshold for tax credits so get nothing. My partner is not bankrupt. I have recently been made bankrupt & have my OR interview in about 2 weeks time. I submitted a SoA with my petition which represented my total income and my partner's 50% contribution to our joint household expenses. In my expenditure I listed our total joint household expenses and my sole expenses pertaining to my daughter (childcare, school meals, etc). OR has asked me to provide total household income and expenditure. Their reasoning..I have listed half share of car expenses but the car in question is registered in my partner's name. He uses a works van so I am the main driver of the car -they're lucky I only listed a half share not full share! I am happy to do this but if I list joint expenses, they're going to tear me to shreds on things like my partner's £200+ on petrol (because of work) & his 'need' to have sky sports (not at all for my benefit). I am the bankrupt, not him, we have no joint debts & have been living together less than a year. I'm confused about their reasoning & it seems unfair that they may question his expenses to which I do not contribute. Any advice?
  8. Thanks - hugely appreciated. I unfortunately got off to the wrong start with the OR when I couldn't commit to the initial interview slot they wanted. I work for the NHS, which means shifts & no structure to breaks (if I'm lucky enough to get them). My rota wasn't out for the date she wanted so I couldn't commit (otherwise I'd be messing her around). The rota would be out the very next day & I promised faithfully to call her the next day to arrange but she wasn't having it. She suggested I did not appreciate the severity of the situation which I took much offence too but I didn't let on. In the end I gave in & arranged for a date I didn't even know I would be off for. What happened? Got the rota next day, proverbial law I was rostered to work, had to phone back and re-arrange for a date I'd be off. So far, bankrupt one week and managed to hack them off. Headmistress for an OR so really not looking forward to it!
  9. Welshcake I too wish I could smile. I was declared bankrupt last week and have OR interview in 2 weeks. The granting of my bankruptcy was confirmed to me and 3 others who filed for bankruptcy at the same time in the court coffee shop in front of members of the general public. I know bankruptcy is public information but this was humiliating. My contact with the OR has unfortunately been scary and I am not exaggerating when I say I felt like I have been in front of the headmistress each time. It's horrible! I am glad that you experience has so far been better than mine! I wish you all the very best for a debt free future away from the vulchers!
  10. Thank you to all of you who previously gave me advice & support - greatly appreciated. Well the deed is done. I have been declared bankrupt. I have my OR interview in 2 weeks and I'm dreading it. OR seemed very stern when I spoke to her. I'm NOT looking forward to it in the slightest. I still feel like the weight of the world is on my shoulders. It's awful and I really hope that I can soon breathe a sigh of relief!
  11. This was one of the things that I have been extremely hesitant about & has been holding me back. Thank you so much for making us aware because I didn't have a clue despite researching bankruptcy & its implications.
  12. News from the NMC at last... The Constitution Order from 2008 relates to members appointed to the council & not individual nurses & midwives. The NMC position on bankruptcy & NMC registrants is as detailed on this link http://www.nmc-uk.org/aDisplayDocument.aspx?documentID=4186 With this now no longer hanging over my head, I can now look to removing the shackles for real & although not a step taken lightly, can look forward to removing that noose from around my neck. Thank you Gaz for showing that there is life after bankruptcy!
  13. Thanks again for your help. I've been in touch with the CCCS & National Debtline neither of which have been able to help me on the NMC side of things. Interestingly, CCCS recommend I go bankrupt having done their 'Debt Remedy' budget. The order & the NMC guidance are contradictory & I have now emailed the NMC for further guidance. I will post once I find out more. It does seem harsh treatment, particularly as my debts predate my registration! I suppose it's because we're in the public eye & being bankrupt is seen to be damaging to the public's perception of our profession. Does anyone know if & when I do file for bankruptcy, would the OR take over my daughter's savings account for which I am Trustee? There's about £150 in there. Thank you again!
  14. sorry, pressed enter too soon... It's confusing & so I will get in touch with NMC for clarification & post on here as may be useful to others. Good luck to you both & thank you very much for your input!
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