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m88
Junior Member
159 Posts |
 Posted - 01 February 2010 : 17:44:24
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| i have chance of redundancy,but must give a decision in the next 2 weeks,the actual money wont be paid until after i am discharged,would this be of any revelance to my case. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 01 February 2010 : 18:09:36
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| If you receive the money after you are discharged then you will be able to keep all of it and not have to let the OR know about it. If you receive it before discharge then you would have to inform the OR about it and they would probably take a good chunk of it. |
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m88
Junior Member
159 Posts |
Posted - 01 February 2010 : 18:14:51
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definetly getting money after discharge,does same apply for pension lumpsums
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 01 February 2010 : 18:38:41
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| Yes, any lump sum (lottery win, bonus, redundancy, pension, etc.) you receive after discharge are yours to keep and you don't need to inform the OR. |
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m88
Junior Member
159 Posts |
Posted - 01 February 2010 : 18:44:38
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will show on my wage slip ,that i will send to moon beever ,but thats now irrelevant?
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 01 February 2010 : 18:47:43
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Are you paying into an IPA? If so, then the same rules still apply. Any one-off payments would still be yours to keep.
If you are paying an IPA and your weekly/monthly wage increases then you would have to tell MoonBeever and your IPA would likely increase as well. |
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m88
Junior Member
159 Posts |
Posted - 01 February 2010 : 18:50:51
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not paying IPA,been sending wage slips for around 3 months ,told by Moon beever to keep sending till end of tax year,
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 01 February 2010 : 18:59:58
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| OK, if the redundancy appears in your payslip and MoonBeever query the increase you can let them know it is your redundancy. As you will have been discharged you will be able to keep all of it. |
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m88
Junior Member
159 Posts |
Posted - 01 February 2010 : 19:04:44
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thanks gettingoutofdebt ,your answers are as every very much appreciated.
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windy_miller
Starting Member
10 Posts |
Posted - 01 February 2010 : 19:18:17
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| When you say discharge do you mean after the 6 or 12 month time scale after you went bankrupt? |
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m88
Junior Member
159 Posts |
Posted - 01 February 2010 : 19:24:36
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went BR in july ,up for ED sent i=e forms back 7 weeks ago
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 01 February 2010 : 19:26:16
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quote:
Originally posted by windy_miller
When you say discharge do you mean after the 6 or 12 month time scale after you went bankrupt?
You are normally discharged 12 months after declaring BR however some people receive an early discharge (ED), which can be after as little as 6 months after declaring BR.
An ED is not guaranteed so people should always expect to be BR for the full 12 months. |
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i have chance of redundancy,
