Will OR snatch my university bursary grant?

bellabooski

Hi everyone,
A friend is getting his statement of affairs together ready for going bankrupt. He is starting uni as a mature student in the autumn and will get a student bursary/grant of £4500 to live on whilst studying. He's worried that the official receiver will take the grant money and consider it as a cash asset post-bankruptcy. Could this really happen as it will be money he has to live on?
Thanks in advance for any feedback
Bella

antarctica

I don't think the OR will be able to take a grant away, someone will be along in a minute to correct me if I am wrong..

debtinfo

Technicaly it would be regarded as income but with all the living costs and studying costs, books etc, it would be extremely unlikely that you would have any surplus. I have personally never seen one taken

fatou256

a student grant or loan is not an income it is just a grant or a loan ! ... the OR will have no interest in it whatsoever. ....

the Or is only interested in this tyype of incoem in consideration for an IPA/IPO only

31.7.7 Income sources which can be included in the IPA/IPO calculation
Various income sources available to the bankrupt can be considered by the official receiver/trustee when making an IPA/IPO calculation, as follows :

• Employment and self-employment - see paragraph 31.7.8
• State benefits - see paragraph 31.7.9
• Arrears of benefits received post bankruptcy - see paragraph 31.7.10
• Pension Receipts - see paragraph 31.7.11
• Periodic payments in respect of loss of earnings/personal injury - see paragraph 31.7.12
• Income arising from capital property- see paragraph 31.7.13
• Tax refunds - see paragraph 31.7.14
• Income arising from nil tax (NT) coding - see paragraph 31.7.15
• Income received from spouse/civil partner/partner - see paragraph 31.7.16
• Income from adult children and other adult members of household- see paragraph 31.7.17

debtinfo

Would the grant not constitute a state benefit then

fatou256

debtinfo wrote: »

Would the grant not constitute a state benefit then

no it won't as it isn't an income per se it is only a grant .

bellabooski

Thankyou so much everyone for your very prompt and helpful replies. I'm sure that they will put my friends mind at rest.
Bella:T

So_Sad_Angel

Hiya B

I wish your friend all the best in the BR & his studies. Remember life goes on & soon his BR will just be a memory.

You are a good friend to him,

Angiexx

bellabooski

Hi Angie,
Thanks so much, I'm hoping to go to court with him when the time comes. I've been thru BR myself in 2006 and I've never looked back, best thing I ever did!
Bella xx