Friday, 22 January 2010

How are Insolvency Service letters like buses?

How are Insolvency Service letters like buses? When three come at once, of course.

So, some news at last, some of it good and some that needs to be challenged. First the good news - we get to keep the car and we don't have to 'buy' any interest in it, so that is a big relief. I never thought I'd be as relieved as this - I don't even like the damned noddy car - but at least it's ours and we don't have to go through the experience of having our car sold from under us. Chalk one up to our side for once!

Next up, on looking at the budget details that I gave them they want me to agree to an Income Payment Agreement of £300 per month for the next three years. Now, I was hoping to avoid an IPA, but I guess I did really expect one - after all I'm a bankrupt and the Insolvency Service has to do it's best to claw something back for my creditors (even if they are faceless banking corporations - the same bastards that screwed our country for years to come). The amount of £300 feels a bit steep - and frankly I don't know how I'll pay it at the moment - but the first step is to challenge some of the figures from the Insolvency Service; I have realised over the last couple of months that I missed a few things off that I'm able to claim for and so I'll have a go at reducing the IPA to something that feels a little more reasonable. Of course, I may not succeed - in which case I shut up and get on with paying, but I have to try.

Still no news on the house, but I guess I feel a little better that I'm close to an agreement on the IPA (even if it makes things tight for three years). I hope soon to be in the phase where I just get my head down, pay monthly what I need to pay, have no more scary paperwork to deal with - and get to the point where I'm no longer bankrupt. I realise that following that is still the huge stage of trying to recover my credit rating - but that is still a long way away, and one step at a time.