Does the OR have any right to home left to me

[mattm]

My mother is leaving me her home in her will. Does the official reciever have any right to this once I have been discharged from Bankruptcy?

[MelanieGiles]

Hi mattm

No - once you have been discharged from bankrutpcy, the need to disclose after-acquired assets ceases.

[iva experts]

Once you have been discharged from being bankrupt you are no longer obliged to let the OR know of any asset that you may have gained.

[Oliver]

Absolutely not. Once discharged the OR can not aquire this asset.

[broke100]

Hi

I am confused with the answers given to this question. I was under the impression that whilst paying into an IPA agreement you were obliged to inform the OR of any change in your circumstances for the full 36 months. This includes pay increases, windfalls,inheritance,bonus etc etc. The fact that you receive automatic disharge after 12 months or earlier does not free you from the obligations of an IPA agreement. If I am wrong then this is good news i.e. I will be able to keep my bonus next Christmas as I will be discharged by then with 24 months of my IPA to run still. I was required to pay all 100% of my December 2007 bonus to the OR. Any thoughts on the above?

[Adam Davies]

Hi
I believe that payrises have to be declared during he three year IPA but not windfalls,inheritence etc once discharged.
I do not know about bonus's but would expect that they would be deemed to be part of your pay so it could well be due again.
I'm sure someone will give you a difinitive answer soon
Regards

[Helpful Advice]

Hi Broke100,

Andy is correct, Bankrupcty deals with assets up to the point of Bankruptcy and any windfalls or inheritence during your term as an undischarged bankrupt, any assets aquired after your discharge will not need to be declared to the OR.
An income payment order or agreement will last for a three year period and deals with your income against your expenditure i.e. your disposable income so your bonus will have to be taken into concideration im afraid as it is part of your taxable income,

Hope this helps