Im confused...discharged bankruptcy..

ste69_2

Hello my names Ste......i went bankrupt in January and ive just recieved a letter from my Official Reciever saying that i have been discharged early...well to say the least im extremely happy :rotfl::D......i can now start sorting my life out......i havent been working since i went bankrupt...

What happens next?

it says even though im discharged i still have a duty to section 331(1) and 291 of the insolvency act...what does this mean??

Thanks...

fermi

Great news.

ste69 wrote: »

it says even though im discharged i still have a duty to section 331(1) and 291 of the insolvency act...what does this mean??

Just means that should an issue arise in the future to do with your bankruptcy, then you still have a legal duty to cooperate with the OR.

That is a reasonable thing to expect and not a big deal really.

ste69_2

Thanks for the quick reply..........really appreciate it....if i find a job will they be able to take money off me??

thanks again...

fermi

ste69 wrote: »

Thanks for the quick reply..........really appreciate it....if i find a job will they be able to take money off me??

If you haven't already got a Income Payment Agreement (IPA) in place, then they can't do so now you are discharged.

If you now get a job and there is no IPA, then they can't take any of your wages.

ste69_2

Thanks again...thats great news!!!!! im really happy with that..

onetomany

nice one ste good luck x we got iva but think we should have gone bankcruped instead x

fiveyearplan

Hi, welcome and congratulations Ste.

Onetomany- I don't know many people who are happy with their IVAs and many end up BR.

maxmycardagain

i had a discharge in november












but i was ED in october:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

fiveyearplan

Incorrigible Max!