Pay Rise

watcher27

Hi All,
I'm currently 6 months into my bankruptcy and pay no BRO or IPO etc.

However, I will be receiving a 4% pay rise at work which equates to an extra £57 "take home" a month.

My worry is that when i inform the OR of the increase, they will set me up on an IPO which will last for 3 years. In reality I was hoping for an early discharge in a couple of months

The only thing is, is that since being made bankrupt we have lost our child benefit (£50 month) and our gas/electricity DD has increased by an extra £25 a month!

So my question is, will the OR take the loss of child benefit & increase in gas/electricity into account when informing him of the payrise? Or will they just see the increase and give us an IPO straight away??

mazman83

Hi

They will ask you to submit another income & expenditure form and then they will tell you if you will be given an IPA.

kepar

Can I ask why you have lost your CB?

watcher27

kepar wrote: »

Can I ask why you have lost your CB?

Because we earn over the £26000 limit.

JCS1

watcher27 wrote: »

Because we earn over the £26000 limit.

Think that is working tax credit? Do you still get child benefit which is £20-30 per week for first child and then £13-40 for subsequent children.

watcher27

JCS1 wrote: »

Think that is working tax credit? Do you still get child benefit which is £20-30 per week for first child and then £13-40 for subsequent children.

Doh! Your right
Sorry, so yes its working tax credits gone, we still have child benefit which is £80 every 4 weeks :rotfl:

watcher27

Also, when you resubmit your SOA, will the OR re-evaluate EVERYTHING?? like Cars etc
Or will he just look at bits that have changed?

For example, we were lucky and kept both cars, but a different OR might look at the SOA and decide one has to go etc

JCS1

watcher27 wrote: »

Also, when you resubmit your SOA, will the OR re-evaluate EVERYTHING?? like Cars etc
Or will he just look at bits that have changed?

For example, we were lucky and kept both cars, but a different OR might look at the SOA and decide one has to go etc

Did you get exemption letters for each car? If you did then it can't be changed.

watcher27

JCS1 wrote: »

Did you get exemption letters for each car? If you did then it can't be changed.

Yes, we got the exemption for both cars :j

Another question i have, is about loans from family members.

This month, my car needed £1196 worth of work (wheel bearings, drop links, new alternator etc etc etc), which my dad paid for, but i have to pay him back obviously.

Can I or should I include this in my SOA?

mysterio_2

if you have paperwork exempting both cars they cannot be touched

however you wont be able to include the monies owed to your father in your SOA it'll have to come from any spare cash you have each month

watcher27

Right, had my pay rise!

So, is there a form i fill out and send in?

Or do i phone the OR office who will take the details over the phone? Or will they send me a form?

Also, I know the cars are ok as i've got the exemption letters, but what about everything else?
For example we had £80 worth of mobiles/phone/BB/Sky charges on our last SOA which were accepted no questions asked. Could the person looking at our revised SOA change this?

many thanks