I was declared bankrupt in may this year and have not yet been discharged. i have just received a cheque for £100 which i won in a competition. do i have to declare it to the OR or can i keep it as it is a small amount? if i do have to declare it will i lose the whole amount?
When I questioned the OR about what I should do if I should receive any extra money she told me that if it was a small amount and a one off then I didn't have to inform her but if it was a regular increase in my income or a reasonable amount then I should inform her.
thanks for your response. i am a little confused then because my OR said that if say i got a bonus at work for any amount then i have to inform them within 21 days. i thought it maybe different for windfalls. i am worried about calling them and asking in case i lose it. i was actually considering cashing it in at cash convertors!
If you are still BR then any additional income (bonuses, windfalls, etc.) need to be declared to the OR. Once you have been discharged then you can keep any windfalls but will need to inform the OR of any salary increases if you are paying an IPA.
I was given a one off payment of £100 last year and I did declare it and they ending up taking 70% of it (£70). I was a bit surprised they took so large a percentage on such a small sum, but at least I was honest I suppose as much as it grieved me to do it.
thanks for the advice, i think its best to let them know then, dont want to cause more issues for myself. good to know though that i can keep any windfalls after discharge, i was not aware of that.
just received a cheque for £100
Posted - 11 August 2010 : 20:23:31
