Bankruptcy and going back to work?

freakier_darkali

So last year my partner went bankrupt. We couldnt afford our rent so we had to move in with my parents. We are currently on benefits as we both have been signed off work. My partner now feels he is able to go back to work and we want to move into a place of our own. How will this work with the official reciever, as we want to also save some money so we can relocated in about 6 months to the isle of wight, but if we have any spare money the official reciever will take it wont he? Does anyone have any suggestions?

scootw1

I believe that once you are discharged you cannot get issued with an IPA so if you wait until discharge you should be okay.

Sooty0404

Money you acquire after your bankrupcy date is unlikely to be touched by the OR unless there are unusually large amounts ie lottery win or large inheritance.

scootw1

depends if you get an IPA. I will get one and I was told that the OR will want all my backpay for a payrise I've just had, which will amount to about a grand

shameless-about-money

freakier_darkali wrote:

So last year my partner went bankrupt. We couldnt afford our rent so we had to move in with my parents. We are currently on benefits as we both have been signed off work. My partner now feels he is able to go back to work and we want to move into a place of our own. How will this work with the official reciever, as we want to also save some money so we can relocated in about 6 months to the isle of wight, but if we have any spare money the official reciever will take it wont he? Does anyone have any suggestions?

If you were discharged from bankruptcy and were without an IPA in that bankruptcy, then you have no problems. An IPA must be set up within the time of the undischarged status.

Any monies you incur post discharge - income, lottery or windfall cannot be touched by the OR - unless there was already an IPA in place.

Oldernotwiser

freakier_darkali wrote:

So last year my partner went bankrupt. We couldnt afford our rent so we had to move in with my parents. We are currently on benefits as we both have been signed off work. My partner now feels he is able to go back to work and we want to move into a place of our own. How will this work with the official reciever, as we want to also save some money so we can relocated in about 6 months to the isle of wight, but if we have any spare money the official reciever will take it wont he? Does anyone have any suggestions?

Just a cautionary note about the Isle of Wight. I'm a Careers Adviser working with adults on the Island and I wonder if you realise how poor the employment situation is here? I don't know what sort of work you're looking for or what skills you have but unless you have some very marketeable qualities the Island is something of an employment black spot. Very many jobs are at minimum wage and many of them are also seasonal. It's a very pretty place to look at and a nice place to live in some ways but not the place I would choose to rebuild a life in with no employment arranged. If you'd like any further information; do send me a pm.

suegw46

You said your partner was made bankrupt- not you, so just put any savings in your name, that can not be touched. they will allow your partner to keep what he needs to live off. Unless he is earning lots of money you should be ok. My husband was bankrupt last year & they did not want to know about anything I had. Also not easy to re-locate, suggest you contact above!