I am currently in a DMP but think I am going to be going BR in January 2009. I am due to go out to Canada in January for a year. I have a few questions I was hoping one of the Experts, or indeed the rest of the Forum, might be able to help me with please:
1. In my DMP, some of my expenditures are incorrect - the DMP provider have increased some values e.g. my rent amount is slightly higher than it really is, prescriptions etc. - will I get into trouble for this when I go BR? Should I set them to the correct values now?
2. I have a 2nd job which is irregular seasonal work / pay. I have told the DMP provider about this but they said no need to declare it. Will I get into trouble for this?
3. I have a hire agreement with my Employer for a push bike. It is paid as a 'Salary Sacrifice' over 18 months at £26 per month. As I am taking a year's Career Break in January they have said they will need either a lump sum payment of about £350 out of my last months wage in January, or I can pay the 12 months over the next 3 months - which would be the best for me to do?
4. Car - I have a car worth about £1,000 which needs about £300 / £400 worth of work doing on it to pass the MOT in January (suspension). Would I get into trouble if I sold it now and bought an old banger for £200 / £300 to last me until January. I need a car for work.
Sorry for the long post - again!!!
I hope someone may be able to offer some advice / suggestions please???
Don't worry about the expenditure as it will be looked at afresh in bankruptcy.
In bankruptcy any additional monies if earned before discharge should be declared to the OR. What happens prior to bankruptcy while in the DMP would not worry the OR
The bike is a tricky one. If you pay a lump sum it could be seen as a preference, and you would not be able to pay if after bankruptcy for the same reason. It is a debt owed to your employer and would be captured in the bankruptcy. However, it is only £350 so they may not be too concerned.
There would be no problem with you selling the car and buying an old banger as the values involved are less than you would be allowed under an exemption.
Going back to the bike issue, if I was to pay for the 12 months that I am away from work now (spread over the next 3 months) whilst in the DMP - would this be ok if I was to go BR in January? Would I even need to tell the OR about it?
More BR Questions Sorry...
Posted - 23 September 2008 : 18:10:38
