can i deal in shares a group of us are about to start buying shares £150 each a month do i have to tell OR as the forms we are filling in wants everyones name tax code ref etc we have done quite well out of this for the past 9 years i dropped out last year for BR reasons but would like to start again i am still BR until next sept
I think you would have to tell the OR about this im affraid at least until your discharged.
Jo x
18 Weeks down
34 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Needafriend's Info on Bankruptcy :-) http://debtfreejo.blogs.bankruptcyhelp.org.uk/ Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
It is definitely the case that you must tell the OR about this. Alternatively and better still, put it off for another year. We don't want the OR thinking you might be the next Warren Buffett!
if you can demonstrate a disposable income of 150 per month I believe you will find that the OR will encourage you to have an IPA which would be for £75ish per month.
If however you elect to have a monthly contribution of sub 100 then this is what the OR would allow you for disposable before an IPA would come into effect.
You should also check to see what the rules are with the share purchases - i.e. you would need to pay for the shares you bought instantly and not have the 24 hours to complete the purchase - otherwise if you exceed the 500 you would in effect be obtaining credit.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
can i deal in shares
Posted - 12 December 2008 : 09:51:17
