BANK ACCOUNTS AND BANKRUPTCY

[scaredkez]

julie the OR will look into everything and possibly find that account, for the sake of a couple of hundred pounds is it worth risking getting a BRU, the OR could make life difficult for you if he feels you are not co operating and hiding things, i wouldn't.
regards kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[juliedel123]

Thanks for the advice, I know it is probably the best option, it is just that it is all complicated. I do some mystery shopping work which does not pay a lot, it is mostly free pub meals, clothes etc. But over time, this money mounts up and I am frightened it will be seen as an income. Thats why I was considering keeping this bank account that these payments go into a secret.
Ahh, it is all so much to think about.
Julie

[scaredkez]

julie could you not draw the money out and say that you have used it for the BR fees, or using it as cash in hand to tide you over until bank accounts are sorted out,these are reasonable excuses as you do have to have money to tide you over, if that income is not regular i don't think the OR will take it into consideration if you explain its only when and as needed, they don't like to keep changing IPA's up and down as it is not cost effective for them,
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[juliedel123]

Thanks again, Thats what I will probably do.
Julie

[MelanieGiles]

I would definately not recommend that you hide any information from the Official Receiver - the money you refer to is not material, but if they find out that you have not disclosed anything a bankruptcy restriction is very likely.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[juliedel123]

Thank you Melanie, I am just scared of disclosing this bank account, because I am on income support, so will the benefits pople then find out I have been doing this extra work. Everything seems like such a mess, I really dont know what to do.
Julie

[MelanieGiles]

Julie

I sympathise, but if you have been earning extra money whilst on benefits then this, as you know, is wrong. I doubt that the benefits agency would find out about this extra money, but is it worth living in fear of discovery and facing the consequences of being prosecuted? I would forget what has happened in the past, as I imagine that the amounts are involved are quite small, but I would go straight from now on if you are going to continue to earn these casual sums.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
I just want to echo Melanies words in that bankruptcy is a chance to draw a line under your financial problems and its best to be totally upfront and honest from this point on.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[juliedel123]

Andy, Thank you for the advice, I know it is best to go straight from now on when the bankruptcy is planned, however it is the past I am worried about. Although it is not a lot of money I have made, (it is simply paying me back for things I have spent out for, like pub meals and clothes). But because I have already done this work, I am frightened the benefits people are going to find out if I disclose it to the the OR. So I do not know which route to take.
Julie

[pm.e]

My view for whats its worth, I think you have to declare the bank accounts, simple as that.

Where the money comes from, Im sure you can tell him from somewhere, perhaps your parents?

Of course, Im not saying to lie.

Hope this helps.