Where do I stand if once I have been discharged from my bancruptcy I receive a one off commission payment from my employer or a substantial amount of inheritence? Can this impact the final 2 years i have to pay into an IPO if I pay this all towards my bancruptcy which i know I am expected to do.
Do you have an IPA? If you receive a commission while you are subject to an IPA / IPO you will need to notify the OR.
Regarding an inheritance, it depends on when the inheritance becomes due. If the person dies whilst you are are BR you must notify the OR even if you do not become aware of or receive the money until after you are discharged.
If the inheritance becomes due after discharge you do not need to inform the OR.
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 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side.
Thanks for coming back to me so quickly, yes I do have an ipo which im paying into. I dont receive bonuses or commission currently but its a possibility next year and this will not be monthly but in one hit during the year. If it comes my way then I hand it back to the OR what impact will it have on my monthly payments?
IPO query
Posted - 10 July 2012 : 15:15:57
