Redundancy & Bankruptcy

poppy2323

Hi everyone

Been a while since I was on here but just wanted to pose a question to those knowledgable members on here and would be ever so grateful if someone could please advise.

My husband and I were declared bankrupt in April 2009. We are currently paying the official receiver a proportion of our wages.

My husband is being made redundant and finishes work at the end of this month.

I wanted to know what we should do about the official receiver.
My queries are as follows:

Will the OR take a proportion of his redundancy payment off him when we advise them? Bear in mind if he doesn't find work straight away then we'll need this money to live off.

After he finishes work should he just 'sign on' straight away and advise the OR?

Will our repayments be reassessed straight away?

Should we cancel the standing order while waiting for this reassessment?

Thanks guys,

Poppy

curly04

Ok if you are discharged they can not take the redundancy payment from you
and they will re asses your IPA so this may stop

But my OR said if I get a very large payment they may ask me to pay off my IPA in full ie £amount paid each month x the amount of months outstanding.

Good luck
x

curly04

curly04 wrote: »

Ok if you are discharged they can not take the redundancy payment from you
and they will re asses your IPA so this may stop

But my OR said if I get a very large payment they may ask me to pay off my IPA in full ie £amount paid each month x the amount of months outstanding.

Good luck
x

This info was given to me by the RTLU when I phoned them when i mihgt have lost my job

poppy2323

Thanks Curly for coming back to me so quickly.

Yes we have been discharged so that's great news.

The redundancy payment isn't large at all as he has only been with the company for 3 years so he receives statutory redundancy of 3 weeks aswell as an ex gratia payment which means the total amount he gets will be approx 2 months salary.

So do you think I should cancel the standing order as soon as he's finished work and wait for the reassessment after advising OR?

Cheers again Curly,

Poppy

philnicandamy

I wouldnt cancel the SO till you speak to the receiver..

curly04

Agree with Phil - don't cancel anything but phone them as soon as you know what is happening

poppy2323

Thanks for advice Curly and Phil.

Much appreciated

Poppy