Bonus in BR

northernman_2

Hi there, I was made BR last May and have gone through all the meetings with the OR and then my appointed Trustee. We volunteered our house (after getting rented accom sorted) and that has now been marketed and sold. I have agreed an IPA and that is in its 4th month now.....automatic discharge will happen in May this year.....all fine and dandy.

With my job, there may be a possibility of a small bonus due at the end of this month - not definite, but just in case what is the protocol surrounding it.......do I need to inform the Trustee myself or will it be picked up as part of his 6 month review ?

dalip

Hi NM Things seem to be ticking along nicely for you:D .

I think you need to give your trustee a quick ring to let them know but most of the time they are not interested,unless it's a large amount or a regular thing. Dx

northernman_2

thanks Dalip and yes all is 100000% rosier than this time last year.....a lot of thanks to this site and the good people like yourself who helped us.....

I will contact the Trustee to see what they say with regards to any potential bonuses.

Once we are discharged, as I understand it, we dont have to tell them anything at all, but they review my income every 6 months. Now my wife went BR with me at the same time and therefore will be discharged at the same time too...she wasnt working at the time and wont be yet so she has no IPO in force....should she get a job will they ask for her income now in any future changes to my IPO ?

dalip

This has cropped up a couple of times. If you have an IPA check the wording on your letter. Some older style letters(when bc was 3 years)say you need to inform the OR of any changes in income/Circumstance until discharge:D . So you would be correct(ignorance is bliss;) ) in not telling them anything after discharge......but if the letter states until your IPA has finished then i am afraid you would have to tell them that your wife is contributing to the household.DX

northernman_2

excellent, cos I checked and mine is the old style....so I dont need to tell them, only up to discharge.

however, it does say that my income will be reviewed every 6 months and any increase could be claimed for my creditors, so does that mean if I get a bonus and 5 months later the review happens and they spot it, and I have spent it ( which I will have ) will I owe them it ????

dalip

Oh not sure on that one:o sorry NM.