Discharged next week - but what's really changed?

jpr_74

Just going through all my paperwork and the BR threads just trying to get a heads up on my circumstances. I am due to be automatically discharged next week on 7/6/2011 and I am thinking "great....but what has really changed?" - am I missing something, or is the pessimist in me just being silly. The reason I am thinking this is because:

I will still be paying the IPA for another two years, and also have no notify the receiver & Moonbeever of any changes in income plus / minus.

&

My credit file will still be the same for at least 6 years from the last date of the last default (not that I want any credit...).


I am just trying to think of something that will be different or to my advantage when I am discharged. Other than Barclays will let me go online - what's changed? Can anyone give me anything in detail to be positive about in the short term?

Also, what if I decided to put some money away in a savings account avery month from any surplus / be given some money as a gift, would the OR / Moonbeever need to know about this?

Ineedaname

Almost the exact same question was asked a couple of weeks ago, it's sort of an anti-climax until the day itself.

Nothing will change, you're right about that. You'll have a little job to do in a few months with cleaning up your credit files, you may also be able to open a savings account a little easier.

If you do put some money by then the OR/Moonbeever do have a right to know as it means you can live on less than they have allowed you and give more to them as surplus.

Not the positive post you wanted I know and I'm sorry about that. Try to look forward to the IPA ending and the freedom you'll have then to do what you wish with your money.

jpr_74

Ineedaname wrote: »

If you do put some money by then the OR/Moonbeever do have a right to know as it means you can live on less than they have allowed you and give more to them as surplus.

I already have a savings account that Barclays setup for me last year but never used....just seems a little frustrating that I am trying to turn my life around and make my future better financially, but it seems that I am not allowed to put money aside to help me for when June 2013 comes around and my IPA is finished. After going through my income and expenditure it almost feels like if I have any surplus then I HAVE to spend it just to justify their calculations....

I_luv_cats

Think of it as 3 steps...

Step one : Your bankruptcy discharge (year 1)

Step two : Your IPA comes to an end in a couple of years (years. 1- 3)

Step three : Your'll be free of your bankruptcy and adverse credit file after another 3 years (years 1-6)

A new chapter in your life free of debts

Ineedaname

JPR - I know it's frustrating, but unfortunately that's the rules. Obviously you won't spend everything you have in your allowances every month. For instance, if you have allowed for prescriptions but don't need them, or to save up for a new pair of glasses as you've allowed so much per month for that. So you can have savings, it's just a case of if it gets to a point where the OR thinks you have more than you need for reasonable living expenses...

wolfers

I'm near to AD, too. I've heard nothing from the OR since my interview a few weeks after my BR.

How likely is it that I'll hear from the OR after discharge? Is he likely to ask for bank statements during my bankruptcy? Can AD be reversed? I guess I'm worrying (as usual!) about what could go wrong. Can I relax and be glad that it's all over?

dojoman

If you manage to save any of the money from your agreed SOA, there is no reason to inform anyone, you only have to inform the OR/Moonbeever if your circumstances change, ie you have an increase in your salary or even a decrease.

kepar

If you do put some money by then the OR/Moonbeever do have a right to know as it means you can live on less than they have allowed you and give more to them as surplus.

INAN why??????????

jpr_74

dojoman wrote: »

If you manage to save any of the money from your agreed SOA, there is no reason to inform anyone, you only have to inform the OR/Moonbeever if your circumstances change, ie you have an increase in your salary or even a decrease.

So is this right then and I can put some money aside as INAN earlier advised that I could not.....?

Shall I just ask Moonbeever?

dojoman

jpr_74 wrote: »

So is this right then and I can put some money aside as INAN earlier advised that I could not.....?

Shall I just ask Moonbeever?

As long as it saved from your agreed SOA that your IPA is based on, then you do not have to tell anyone. If it was money from a change in your circumstances then you would be obliged to tell them.

jpr_74

dojoman wrote: »

As long as it saved from your agreed SOA that your IPA is based on, then you do not have to tell anyone. If it was money from a change in your circumstances then you would be obliged to tell them.

Thank you Dojo....that seems to make more sense based on the SOA as they work out what I should be spending based on my income and I guess it's my choice to save......