| T O P I C R E V I E W |
| Dez |
Posted - 04 February 2010 : 13:49:56
Hello
Thanks for your help in the past.
I was declared bankrupt on 27 october 2009 and till this day not had to pay the O/R anything but there are arranging for a nil tax code which as just been put in place, anyway I have £120 taken from my wages for childcare vouchers and my daughter is going to get them free so I will have an extra £120 per month in my wages so when I tell the O/R they will want this, does anyone know how long i will be paying this for? I was also told about an early discharge from my bankruptcy will this extra money affect this?
Really hope someone can help me here as I'm very worried about the outcome of this money
Thanks
Dez |
| 7 L A T E S T R E P L I E S (Newest First) |
| Dez |
Posted - 04 February 2010 : 17:39:28
Many thanks for all you help on here
Derek |
| Housing |
Posted - 04 February 2010 : 16:52:05
In answer to your last thread, yes, you would have to inform the OR (even if discharged) about an increase of income if you are subject to an IPA
Hope this assists, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
| Dez |
Posted - 04 February 2010 : 16:42:46
Thanks for all your help just one more thing if I have a IPA does this mean the I have to tell the O/R of any extra money I get after my bankruptcy discharge until my IPA as finished? |
| gettingoutofdebt |
Posted - 04 February 2010 : 14:41:58
Yes, an IPA doesn't affect ED at all but you should remember than an ED is a bonus and expect to be BR for the full 12 month period. |
| Melanie.n |
Posted - 04 February 2010 : 14:39:57
The IPA bears no relevance to your early discharge, these are both seperate things.
Whether or not you have an IPA is not linked to your having early discharge
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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| Dez |
Posted - 04 February 2010 : 14:25:26
Thanks for your reply could I still get an early discharge if I am paying a IPA? |
| Richard P |
Posted - 04 February 2010 : 14:16:10
Hi Dez, welcome back
wanting to be positive about my reply
so yes you must tell the OR about changes in your financial situation
The extra £120 per month may put you above the Disposable income threshold
They (OR) normally send out an I & E after about 5 - 6 months depends office to office. now would be a good time to check back on your finances for the past 6 months and compare this against the original I & E if you have a significant difference or expenses that you had not claimed enter them on the new form and at the same time telling them about your increase of income.
worse case scenario you will get an IPA for about £50 which normally last for three years.
It will onyl be a short term nil tax (end of financial year) so remember to put the tax aside as moon beaver will come chasing.
regards Richard
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