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 Will I be able to keep bonus after discharge		  New Topic  Reply to Topic
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Mark.5
Starting Member



3 Posts
Posted - 27 March 2012 :  00:54:26  Show Profile  Visit Mark.5's Homepage  Reply with Quote
Will I be able to keep bonus after discharge

I stop paying sons maintenance in December 2012. Will I have to declare this ?

Niobe
Administrator



United Kingdom
4590 Posts
Posted - 27 March 2012 :  08:00:41  Show Profile  Reply with Quote
Hi and welcome.

Do you have an IPA?

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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Mark.5
Starting Member



3 Posts
Posted - 27 March 2012 :  08:17:17  Show Profile  Visit Mark.5's Homepage  Reply with Quote
Yes I do have an IPA...
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 27 March 2012 :  09:41:09  Show Profile  Reply with Quote
In that case then, as far as I am aware, you will have to declare the change in your income and may well have to pay the bonus (or part of it) across.

I do stand to be corrected though so hopefully one of the experts can come on and advise.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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Mark.5
Starting Member



3 Posts
Posted - 27 March 2012 :  09:51:36  Show Profile  Visit Mark.5's Homepage  Reply with Quote
I phoned another help line this morning and their saying that I don't have to. Just wish they would make these things clear. But thank you for your help Jan!
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 27 March 2012 :  10:47:44  Show Profile  Reply with Quote
One of my friends was bankrupt and I know she had to inform the OR of change in income but not sure about the bonus.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
xxx
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mydebtpages
Starting Member

43 Posts
Posted - 27 March 2012 :  12:19:52  Show Profile  Reply with Quote
Hi Mark

Don't know which helpline you rang but I think you were misinformed. This from the Insolvency website:

quote:
What if my income changes when I am paying an IPA or IPO?

You must contact your trustee (who may be the official receiver) immediately. You will be asked to fill in a form that gives details of your new income and your current spending. Your IPA or IPO may be changed to take account of the change in your circumstances.

If your income has gone down, the trustee may decide to suspend your payments under the IPA or IPO until your situation improves.

If your income has gone up, the trustee may decide to increase your payments under the IPA or IPO.


Best

-MyDebtPages
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