| T O P I C R E V I E W |
| mike.b |
Posted - 28 July 2009 : 19:26:07
I made myself bankrupt on the 18th July 2008, shortly before hand I lost my job and I have not been in work since. I was discharged on the 18th July 2009 and I have been informed that as soon as I start working the OR will not take any money from me is this correct? |
| 11 L A T E S T R E P L I E S (Newest First) |
| mike.b |
Posted - 28 July 2009 : 21:03:23
Well its been hard lifing on £50 a week but I am glad in a way now knowing I dont have to pay anything back. |
| Skippy |
Posted - 28 July 2009 : 20:44:56
Congratulations on your discharge and good luck with the job hunting.
I don't doubt there's a lot of people who would avoid looking for work so they didn't have to pay an IPA, but personally I wouldn't want to struggle on benefits for a year!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
| mick1972a |
Posted - 28 July 2009 : 20:04:57
Lol im sure some people do Mike. They dont take all of your money just a percent of any excess you may have so in some cases depnding on how much you get paid and your out goings and such then your still prob better off working.
Mick |
| mike.b |
Posted - 28 July 2009 : 20:02:22
Many Thanks! I must wonder then why people dont try and lose there jobs before going BR and not working for a year! |
| mick1972a |
Posted - 28 July 2009 : 20:01:22
Its true, your BR only lasted a year and once your discharged anything that you do such as getting a job or recieving more money is all yours.
Congratulations on your discharge to.
Mick |
| mike.b |
Posted - 28 July 2009 : 19:58:49
Seems to good to be true! |
| mick1972a |
Posted - 28 July 2009 : 19:56:59
Yes Mike it would all be yours as you have been discharged. |
| mike.b |
Posted - 28 July 2009 : 19:55:34
So if I was to get a job tomorrow all the money from that would be mine? |
| mick1972a |
Posted - 28 July 2009 : 19:52:27
Its an Income payment agreement.
When you go bankrupt the OR would of had a look at your incoming money and your out goings.
If you had over £99 available after all of your essential living costs were payed then they would of taken a percentage of that to pay to your creditors for 3 year.
As you were not working and presumibly on benefits then you would of not had an IPA and so would not have to pay anything.
Once you are discharged you can not then get an IPA. |
| mike.b |
Posted - 28 July 2009 : 19:48:14
Sorry to sound silly but whats IPA? |
| mick1972a |
Posted - 28 July 2009 : 19:36:42
Mike thats right, if you have had no IPA and are now discharged then you will never have to worry about an IPA and thats it all done.
Mick |
