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Garycery
Starting Member
United Kingdom
7 Posts |
 Posted - 23 February 2011 : 10:10:38
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Dear Experts,
I was declared bankrupt last year in June. I have 3 questions which perhaps you could help me with.
1. I have been on benefits for all my bankruptcy - so no IPO/IPA. I have now secured a very high paying job [large surplus will be left over] which start on 1 April and my auto Discharge is on 2 June. Is it worth taking the risk of not telling the OR that I am in employment so as to escape a possible IPO/IPA? Is the risk high? Does the OR check one's bank account before auto discharge?
2. The same as above, but I also have the option of starting on 1 May in my new Job, leaving one month of employment which not to tell the OR. Is the risk worth taking?
3. Can an OR suspend the auto discharge merely on their belief that I am a high flier and sooner or later will get a high paying job past the 12 month bankruptcy auto discharge in order to secure an ipo/ipa?
I would appreciation your answers on my dillema. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 February 2011 : 10:20:00
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Hi,
You will have to fill in a new income and expenditure before automatic discharge, so unfortunately, you will need to be honest.
Congratulations on the job.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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moodybluetwo
Junior Member
156 Posts |
Posted - 23 February 2011 : 10:20:59
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| My advice is to be honest in every way.If you don't want an IPA don't change your current situation. If you don't inform the OR of any change you could be breaking the law. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 February 2011 : 10:25:44
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I agree that you should be honest in every way, there is always the chance the OR could find out.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
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Garycery
Starting Member
United Kingdom
7 Posts |
Posted - 23 February 2011 : 10:25:56
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Hi,
Thanks for the answers so far. So what would happen if I start on 1 May and my first salary payment is on 3 June and my auto discharge is on 2 June. Could you shed light on this? Would I still get an IPA.
quote:
Originally posted by Viki.W
Hi,
You will have to fill in a new income and expenditure before automatic discharge, so unfortunately, you will need to be honest.
Congratulations on the job.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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Garycery
Starting Member
United Kingdom
7 Posts |
Posted - 23 February 2011 : 10:27:38
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Hi all,
Does anyone have a view on Question 3: "Can an OR suspend the auto discharge merely on their belief that I am a high flier and sooner or later will get a high paying job past the 12 month bankruptcy auto discharge in order to secure an ipo/ipa?"
iginally posted by kallis3[/i]
I agree that you should be honest in every way, there is always the chance the OR could find out.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx
[/quote] |
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moodybluetwo
Junior Member
156 Posts |
Posted - 23 February 2011 : 10:37:06
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| If you wanted to avoid an IPA....then in my opinion your circumstances should not change until your discharge date.Again its only my opinion....but if you start the process of employment before your discharge date you are obliged to inform the OR. To make things easy just wait until your discharge date. |
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Garycery
Starting Member
United Kingdom
7 Posts |
Posted - 23 February 2011 : 10:45:09
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Hi all,
Thanks for the comments. It is a difficult decision as if I wait until auto discharge I will loose the job, it was already difficult to convince my new employer to put the starting date later. I am really torn and confused whether I should take the risk. Does the OR check bank accounts post discharge?
quote:
Originally posted by moodybluetwo
If you wanted to avoid an IPA....then in my opinion your circumstances should not change until your discharge date.Again its only my opinion....but if you start the process of employment before your discharge date you are obliged to inform the OR. To make things easy just wait until your discharge date.
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moodybluetwo
Junior Member
156 Posts |
Posted - 23 February 2011 : 10:56:38
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| I don't know how the OR checks things but I'm sure they do. Its there job and they have access to many databases...including the inland revenue. I cannot condone unlawful practices in any way and feel you have enough information on the subject to make your own decision. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 23 February 2011 : 12:52:18
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Hi Gary
Take the job but as late start date as you can.
I believe the current motion is to get individuals on £0 IPA rather than suspend discharge.
you must inform OR of change of circumstances within 21 days of change.
you have gone through BR process and given yourself a chance for a fresh start, if you do not tell OR about your changes would you be looking over your shoulder all of the time ?
If you get the IPA so be it, If you have written and carried out your responsibilities to the OR you will be beyond reapproach.
Richard |
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xmas baby
Average Member
537 Posts |
Posted - 24 February 2011 : 12:19:09
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To be honest, would paying just 2 months of an IPA really be so bad, even if the IPA for those 2 months was high? You won't have to do the whole 3 years, which you are lucky to have not had to contribute to for the duration of your bankruptcy.
xmas baby |
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Viki.W
forum expert
United Kingdom
2211 Posts |
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xmas baby
Average Member
537 Posts |
Posted - 25 February 2011 : 10:30:36
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| thanks viki, sorry my mistake. In that case Gary, I would delay starting the job, although if you are going to be paid a decent salary wouldn't you rather pay something back to your bankruptcy? After all, IPA's are intended for those who have some disposable income. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 25 February 2011 : 12:41:01
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It all depends really on whether the job will still be there if you delay starting.
It's not worth losing a good job to avoid an IPA.
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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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 25 February 2011 : 15:35:36
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Hi tracey,
can you email me when you get a chance please?
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 25 February 2011 : 15:45:29
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Done!
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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Cheeky IPA
