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charlie44
Junior Member
231 Posts |
 Posted - 04 June 2011 : 19:32:35
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| If you are lucky enough and manage to save some money whilst BR or while you have an IPA, can the OR claim this money? There is no change in circumstance SOA wise but you have managed to put some money away, not talking thousands either. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 04 June 2011 : 20:56:05
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I think that you should be able to save money from your allowances if you can. Hopefully one of the experts can help with this.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
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debtinfo
forum expert
2826 Posts |
Posted - 05 June 2011 : 09:05:15
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In theory they can yes, Apart from savings for things you are allowed such as a holiday or car repairs, then you should not have any spare money (aoart from maybe if your income is all from benefits) so the logic would be that your budget is too loose.
Of course that i s based on the current system, the previous system did allow you to have some spare money |
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debtinfo
forum expert
2826 Posts |
Posted - 05 June 2011 : 09:09:18
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from the Manual
31.8.40 Build up of funds in the bankrupt’s bank account (amended May 2009)
Where there has been a gradual build up of funds in the bankrupt’s bank account it is likely that the source of those funds will have been a from a surplus of income and the official receiver, as trustee, should consider laying claim to those monies in the account that are in excess of those necessary to satisfy the basic domestic needs of the bankrupt and his/her family. Where the trustee wishes to lay claim to monies of this nature, the claim should be under an IPA or IPO (see Chapter 31.7), rather than as after-acquired property, and an IPA/IPO in to claim the monthly surplus should also be considered.
Where the source of the funds is from some other (non-income) source (for example, small gambling wins), then the monies can be claimed as after-acquired property.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 June 2011 : 09:27:54
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Would that apply to earnings from Ebay sales as well?
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
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debtinfo
forum expert
2826 Posts |
Posted - 05 June 2011 : 09:37:31
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| its all income |
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debtinfo
forum expert
2826 Posts |
Posted - 05 June 2011 : 09:38:48
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| I Should point out that it is fairly rare and would need to be substantial to attact the OR's interest |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 June 2011 : 09:56:19
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It does seem a bit harsh! My selling on Ebay funds my purchases on there such as clothes and presents.
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
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debtinfo
forum expert
2826 Posts |
Posted - 05 June 2011 : 10:08:43
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| yes but of course an allowance in bankruptcy would already have been made for clothing, as i say it does not come up often |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 June 2011 : 11:55:30
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I do agree that you get an allowance as I do in my IVA but it doesn't always cover things and if I can get stuff cheaply from Ebay by selling some of my own old stuff then I do.
I'm in the middle of listing at the moment as it's free listing weekend!
The world is broken, halos fail to glisten
We try to make a difference but no one wants to listen
Hail the preachers, fake and proud
Their doctrines will be cloud
Then they'll dissipate like snowflakes in an ocean
Jan
xxx |
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Essie
Junior Member
United Kingdom
115 Posts |
Posted - 05 June 2011 : 13:29:42
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quote:
Originally posted by charlie44
If you are lucky enough and manage to save some money whilst BR or while you have an IPA, can the OR claim this money? There is no change in circumstance SOA wise but you have managed to put some money away, not talking thousands either.
I hope you can save money. I have set up an extra account which I can save my allowances for haircuts, car tax, insurances, car maintenance etc. I save the haircut money so I can have my hair cut at the usual place every few months. Will I also be allowed to save for a flat deposit for a bigger flat? I currently live in a tiny studio.
Finally got head out of sand in October 2010
BR March 2011
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 05 June 2011 : 23:19:30
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The OR or trustee as a matter of course, don't monitor bank accounts and the like, it's hard enough getting the courts to issue production warrants for bank accounts suspected of being involved in funding drugs supply or terrorism.
They can of course get the banks/credit cards to provide statements for past spending, to identify how you became insolvent, but only where the liabilities are excessively large( £100k or more).
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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SAVING WHILST BR
