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BankruptC
Senior Member
1030 Posts |
 Posted - 29 July 2008 : 18:02:35
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Hi again,
Could someone clarify what happens to bonuses received before discharge and the two years after if you get an IPA.
Thanks,
I |
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John
New Member
United Kingdom
73 Posts |
Posted - 29 July 2008 : 19:22:18
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Bonuses whilst in bankruptcy must be disclosed to the OR. After discharge, but in an IPA/IPO, the bonus must still be disclosed as it is part of your income (Income Payment Agreement - IPA) which lasts for 3 years.
However, if discharged and in an IPA, a windfall such as lottery win or inheritance is yours to keep as it is not income.
Assisting where I can. |
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BankruptC
Senior Member
1030 Posts |
Posted - 29 July 2008 : 19:30:26
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Thanks Assist,
My bonuses are not at all guaranteed, in fact it's partly because they went back on their bonus promise this year that we find ourselves in this position now!
So if/when I get a bonus and we're in an IPA, we inform the OR and then do they take all of it, or a percentage? |
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WINCHESTER78
Junior Member
248 Posts |
Posted - 29 July 2008 : 22:26:16
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| HOW WOULD THE OR KNOW ABOUT YOUR BONUS? |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
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BankruptC
Senior Member
1030 Posts |
Posted - 29 July 2008 : 22:47:07
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Hi Brett,
Do you know how much of the bonus they take or is it all of it?
Thanks,
I |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
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Topic |
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Bonuses
