| T O P I C R E V I E W |
| daisy duck |
Posted - 05 September 2010 : 00:06:39
Hi. I have been reading several questions relating to bonus payments but still do not know any answers.
I was made BR July 2008 and discharged a year later but have been in an IPA since October 2008 and will be finished paying my IPA in October 2011.
I have just received a bonus of £600 and do not know if I should tell OR or just keep quiet I have read that if you have been discharged then any bonus payments are mine to keep like lottery wins etc. could you please answer this question me once and for all.
Cheers. |
| 6 L A T E S T R E P L I E S (Newest First) |
| debtinfo |
Posted - 05 September 2010 : 17:14:05
Here is the OR's technical manual on the subject
xxii Employment bonuses
Where a bankrupt receives a bonus from his/her employer, this should be claimed by the trustee under an IPA/IPO, rather than as after-acquired property, as a payment in this respect comes under the definition of income.
Ishould point out though that if you can show that your reasonable expenditure in that month that you need to keep some of the money the trustee can consider that you do |
| Julie |
Posted - 05 September 2010 : 14:46:53
As per my previous post hubby kept all of his bonus and it was more than £600 so hopefully daisy duck will be able to retain the money.
|
| debtinfo |
Posted - 05 September 2010 : 14:00:38
However a bonus is income not the receipt of an asset, so you may have to hand some of it over |
| gettingoutofdebt |
Posted - 05 September 2010 : 12:38:56
If you receive a one-off payment after you have been discharged but are still paying an IPA then the money is yours to keep. The only time you will need to contact the OR is if your regular income increases. |
| debtinfo |
Posted - 05 September 2010 : 07:47:07
Do tell the OR, if you are allowed to keep it telling the OR wont change that |
| Julie |
Posted - 05 September 2010 : 00:37:52
Hi - as far as I'm aware, the bonus is yours too keep, this was the advice we had from OR's office when Hubby had a bonus ( discharged from BR but in an IPA), |
