Discharged next week - but what's really changed?

alastairq

Where there has been a gradual build up of funds in the bankrupt’s bank account it is likely that the source of those funds will have been a from a surplus of income

So....are you saying the OR actually monitors BR's bank accounts? [ie by direct contact with the bank..or online?]

Or do they regularly require sight of statements?

A gradual build-up of moneys surely falls into the categories DI mentions above?

Therefore, argument can be presented to the OR in support of their leaving the monies alone?

Of course, after discharge, is it correct that any accounts, savings or otherwise, opened by the Ex-BR need not be brought into the OR's radar?

alastairq

debtinfo wrote: »

I have this mental picture of entering your house now and all the rooms floor to ceiling being covered with shelving and tins like a supermarket:D

shhhh!:whistle::whistle::whistle::shhh::shhh::

debtinfo

The OR does not routinely monitor bankrupt's bank accounts, but if they have reason to they can look at them, hence why not a good idea to boast in front of creditors

As i said it is fairly rare, and would need to be a significant amount to trouble the OR, the above woring is quite open as to allow the OR to use their discretion.

alastairq

The OR does not routinely monitor bankrupt's bank accounts, but if they have reason to they can look at them, hence why not a good idea to boast in front of creditors

oh yes...yet another mental picture arises...of me stood outside the front doors of various massive edifices belonging to major Credit Card companies, waving a savings book in the air and shouting 'yah boo sux'.....?

Ineedaname

debtinfo wrote: »

If you have saved from other allowances which you are meant to spend each month then the R will look at it and think those allowances are to generous and so will look into recovering them. Of course boasting about it in front of creditors is not going to help your cause

Thank you Debt Info - far more succinctly put than I've managed it. At least I now know I'm not going completely mad.

kepar

I still don't understand, at 18 months she could quite easily have saved £3000 because she was under the old system of IPA. If she had saved her spare, why does the OR have a claim to it. As my wife has nearly £2000, she has obeyed the rules and paid her IPA and saved the spare. Why should she lose the money, whilst other's don't pay an IPA. Also what about other br's who are on benefit's and with their SOA's have shown to have spare do not get penalised.

She was told to save her spare by the OR, so why should they be able to take it.

Ineedaname

debtinfo wrote: »

As i said it is fairly rare, and would need to be a significant amount to trouble the OR, the above woring is quite open as to allow the OR to use their discretion.

Kepar - different ORs, different interpretation of the rules.

That is the crux of the problem. Advise someone it's OK to make savings over and above what they need for living expenses (car costs, holiday etc.) and have them come back 6 months later to say their OR has taken the savings. Or suggest they don't make savings to avoid the above being a problem.

I guess the best answer is to ask the individual OR if it's OK to make savings out of allowances and keep the money!

Your wife's OR has already said it's OK, so you should have nothing to worry about.

debtinfo

There is a difference between can and will.

They can because the LAW only says that the bankrupt should be left enough money to live a reasonable life style, thats all it says.Anything beyond that is at the OR's discretion

dojoman

So if you were assessed on the old rules, and say you had a surplus of £700, and according to the then rules you pay an IPA of 70% which is £490, what are you supposed to do with the £210 that is left? If you save it and the OR decides to take it, you are in effect paying 100% of your surplus.

Ineedaname

It's possible it wasn't such an issue under the old rules, but now they're taking everything they can and a BR is meant to have no surplus, the ORs are perhaps getting tight about any amount which could be available to them.

Sign of the times and the current economic climate?