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.
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),
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.
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
Bonus payment while in IPA but discharged
Posted - 05 September 2010 : 00:06:39
