I have just gone bankrupt

[aurora]

I have just gone bankrupt, and now have been offered voluntary redundancy from work. I am due to have a baby in 3 months time, and will not be working again in any case. Can the trustee take this money from me, or is there even any way they will find out about it?

[MelanieGiles]

Hi aurora and welcome to the forum, although I am sorry to hear about your redundancy.

The Trustee will probably not take your redundancy money from you, as this is compensation for loss of office and needed to fund you over the next few months. I suggest you speak to them straight away and make it clear that you need to retain this money and see what they say.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To appoint me as your IP visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
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[iva experts]

Hello Aurora and Welcome!

Sorry to hear about your current situation, I would contact the Trustee as soon as you can to explain the events you are facing. I dont think they would ask for the redunancy money as you will need this to live off. Please post when you know of the outcome [:D]

Best Regards. IVA Experts

[aurora]

Thank you for your replies...they have been re-assuring. I am off to an insolvency solicitor tomorrow, just to get it confirmed, and hopefuly she can act on my behalf...as
I don't wish to talk to the official receiver again.

[aurora]

contacted an insolvancy practicioner, and they say, that they will take the money, and perhaps leave me with a few months money to live on...as they have the creditors interests foremostly in mind.

[MelanieGiles]

How much is your redundancy settlement likely to be?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[aurora]

It is £9,370.

[MelanieGiles]

Depending upon what your normal salary is, I can see the OR allowing you to keep some of that money, but perhaps not all of it - it will really depend upon how quickly you can find alternative income, which with a new baby will not be easy.

Put up as strong a case as you can.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[aurora]

I will email the o/r and see what reply they give me.

Regards