Good afternoon,I was delcared bankrupt 8th March

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
 
 

RJM147

User avatar
Posts: 1
Joined: Mon Mar 29, 2010 2:47 pm
Location:

Post by RJM147 » Mon Mar 29, 2010 2:56 pm
Good afternoon,
I was delcared bankrupt on 8th March 2010 and been told I do not need to have an interview with the OR because my case is straight forward. Because I work in sales I can qualify for a quarterly bonus which can range from between £1,000 and £4,000 after tax payable in April, July, October and January. I have not had a bonus for about 9 months but may get one in April. I don't have any expendable income and am having to borrow £100 from my mum every month to survive still. (The OR doesn't know about my mum's money as it does not go through a bank account). I need to get new tyres for my car and all of my work suits and shirts need replacing, not to mention car insurance etc will need paying before I am discharged and I may not get another bonus before these payments are due. I can probably get my work to hold back paying me a bonus for 3-6 months but not sure what to do as I really need the extra money.
Please help.
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Mon Mar 29, 2010 6:36 pm
You must not withold this information from the OR - who will want to interview you on the telephone if not in person. Until you receive your discharge from bankruptcy, you have to declare any unforseen assets to the Trustee - and this would include work bonuses. That said, it does appear that you have some good reasons for keeping some, if not all, of the money.
Regards, Melanie Giles, Insolvency Practitioner
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom

Post by plasticdaft » Tue Mar 30, 2010 10:06 am
Be up front and honest about this and see what happens. Or try to hide it and get a criminal record. No brainer choice wise if you ask me!!!

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”