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T O P I C R E V I E W
nicki.s
Posted - 17 July 2008 : 20:57:34 If I go bankrupt, what happens ig I later receive a pay rise at work? Will I lose all of it and be no better off or will I only lose a proportion?
2 L A T E S T R E P L I E S (Newest First)
nicki.s
Posted - 18 July 2008 : 17:56:00 thanks - that's good to know actually. Under an IVA I can lose the whole amount, which gives me no incentive to progress my career - this would mean that, if I then decided not to take a promtion with a pay rise, my credtors wouldn't get any more money either. Seems daft to me. The terms of bankruptcy actually seem fairer to all parties.
zoe
Posted - 17 July 2008 : 22:17:25 Hi Nicki.s and welcome to the forum You would need to declare whilst you are undischarged. If you enter into an IPA you would need to advise the OR for the duration (3 years) however only a maximum of 70% of your disposable income can be asked for.
