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Bak.by
Starting Member
4 Posts |
 Posted - 07 February 2011 : 15:13:47
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| I am bankrupt and have been made redundant from a company gone into administration. I have been awarded wages owed, holiday pay totalling £2,100 and redundancy totalling £1140 from the redundancy payments agency. I am aware the trustee dealing with my affairs keeps the redundancy payment but am I entitled to keep the wages and holiday pay? |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 07 February 2011 : 15:53:57
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HI Bak BY
sorry to read about your change in circumstances.
Yes wages would have thought so for holiday pension but not certain
RIchard |
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Bak.by
Starting Member
4 Posts |
Posted - 07 February 2011 : 17:46:00
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quote:
Originally posted by Richard P
HI Bak BY
sorry to read about your change in circumstances.
Yes wages would have thought so for holiday pension but not certain
RIchard
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Bak.by
Starting Member
4 Posts |
Posted - 07 February 2011 : 17:47:57
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The trustee has already received all the funds so I would assume he sould return all but the redundancy payment to me so you think this to be the case?quote:
Originally posted by Bak.by
I am bankrupt and have been made redundant from a company gone into administration. I have been awarded wages owed, holiday pay totalling £2,100 and redundancy totalling £1140 from the redundancy payments agency. I am aware the trustee dealing with my affairs keeps the redundancy payment but am I entitled to keep the wages and holiday pay?
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debtinfo
forum expert
2826 Posts |
Posted - 07 February 2011 : 21:27:22
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| Its not quite that simple, The redundancy compensation is an asset and so will be taken whole. The rest is part of your income for the last month, as such it has to be taken through an IPA, As part of that an assesment of income vs expenditure has to be made so if you have any unexpected expenses this month now would be the time to tell the trustee as this can be deducted from the total, Also if already in an IPA prior to 1/12/10 then they can only take 70% of any surplus |
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Bak.by
Starting Member
4 Posts |
Posted - 08 February 2011 : 08:08:29
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Thanks for that. The income relates to July/August last year before I was adjudged bankrupt. The bankruptcy was partly as a rsult of being made redundant. But the claims have only in the last month been settled. Because it was money owed before bankruptcy does this make any difference? your help is very much appreciated. Thankyouquote:
Originally posted by debtinfo
Its not quite that simple, The redundancy compensation is an asset and so will be taken whole. The rest is part of your income for the last month, as such it has to be taken through an IPA, As part of that an assesment of income vs expenditure has to be made so if you have any unexpected expenses this month now would be the time to tell the trustee as this can be deducted from the total, Also if already in an IPA prior to 1/12/10 then they can only take 70% of any surplus
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I am bankrupt and have been made redundant
