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Clairebear2502
Starting Member
3 Posts |
 Posted - 01 November 2010 : 18:38:03
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Hi all.
Hve been on here before but can't remember my login. Went br in march and was discharged in august. Am paying an ipa but am due to get a performance bonus of about £400 at end of month. I have read contradicting advice as in I do need to declare it and other info saying I don't as it is one off and I'm discharged
any help pls
many thanks
claire |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 02 November 2010 : 07:29:44
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Hi Claire
As you have been discharged early from bankruptcy unfortunately if you look at the paperwork you received from the OR, you are still under certain restrictions and one of them is that you are still required to disclose any "windfalls" or increase in earnings.
All the best
John Blackadder |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 02 November 2010 : 07:45:08
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Hi Claire
My apologies for misleading you in my last response to you. You do NOT have to disclose any windfall after early discharge although you are required to give the official receiver or trustee information as to your affairs.
The Insolvency Act 1986 states that after early discharge the bankrupt is not required to give notice under section 333(2) to the official receiver or trustee regarding after-acquired property once he/she is discharged.
I hope that helps and, again, apologies for misleading you.
John Blackadder
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 02 November 2010 : 12:03:28
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Hi Claire,
as far as I'm aware all you need to do is keep making the payments as per the original IPA. Moonbeever don't monitor your bank accounts etc, however I think this extract from the technical manual should help:
31.8.4 Bankrupt’s duty to the trustee regarding after-acquired property
In addition to his/her general duty to co-operate with the trustee [note 1], the Act makes special provision requiring that the bankrupt give notice to the trustee of the acquisition of any property, or increase in income, during the period of bankruptcy (i.e., between the date of the bankruptcy order and the date of discharge) [note 2].
Therefore, as you have been discharged from bankruptcy, you do not need to inform anyone about the bonus as it falls outside the relevant period.
Big Al |
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Clairebear2502
Starting Member
3 Posts |
Posted - 02 November 2010 : 13:49:04
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| Hi thanks for replies. I phoned and checked with or this morn just to make sure and they've said I can keep it. Yay. Many thanks :-) |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 02 November 2010 : 14:25:26
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That's brilliant! Have an enjoyable christmas with your bonus!!
JB |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 02 November 2010 : 14:50:02
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Good news, enjoy the bonus!
Big Al |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 02 November 2010 : 18:02:54
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Good news!
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Julie
Starting Member
42 Posts |
Posted - 05 November 2010 : 20:34:15
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| Just caught up with this, great news Claire!! |
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xmas baby
Average Member
537 Posts |
Posted - 09 November 2010 : 16:25:22
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Hi all,
I was discharged in March this year but I still have 18 months left of the IPA. I was always under the impression that I still have to inform Moonbeever, RTLU, etc if there was a rise in my income until the end of my IPA. However, from what I have read in the messages below, this doesn't seem to be the case. I know any windfalls after you have completed your bankruptcy term are yours to keep, but I thought any rises in income, or bonuses still need to be informed of.
I am expecting a small bonus around christmas of £70, so would I need to inform them of this or not?
Thanks
xmas baby |
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Topic |
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Bonus after discharge but still in ipa
