Some bankruptcy debt written off, do i still i have to pay it?

tigerfeet2006

That if you are working doesn't necesarrily mean you will have an IPA. Your out goings will change when you start working so you will have more outgoings so you may not have enough of a surplus.

If you get a job then post your new SoA up and someone will check it for you.

bradztheman

what happens when im discharged??
Will i get a letter on exactly the same day as i went bankrupt the year before?
If i start working after im discharged, (11months time), do i have to tell them ive found a job then or declare any other changes if im discharged??

Also, how when will i receive a BRO if i was ever going to? its been 5 weeks since i went bankrupt...Not sure if i'd know by now?

alastairq

Hi.......

what happens when im discharged??

If no IPA has been agreed by that point, then the OR cannot impose one..[except under certain, rare, circumstances...that involve a Court]. You are also freed from the restrictions imposed by bankruptcy.

Will i get a letter on exactly the same day as i went bankrupt the year before?

No....automatic discharge from BR passes with but a whimper! Check your details on the IS website, you will see them change midnight on day of discharge. Print off a few copies for the future, as the notice disappears after about 3 months from Discharge.

If i start working after im discharged, (11months time), do i have to tell them ive found a job then or declare any other changes if im discharged??

If no IPA has been agreed by the date of discharge, then you would not need to inform the OR at all of any changes.

However, if an IPA/IPO has been agreed beforehand, then you would have to inform the OR of any material changes [to your SOA] for 3 years from date the IPA was agreed. Thus, the amount paid under the IPA could be increased, decreased or suspended as the situation demands.

Also, how when will i receive a BRO if i was ever going to? its been 5 weeks since i went bankrupt...Not sure if i'd know by now?

In such an unlikely event, the BRO would probably mean continuation of bankruptcy restrictions for a considerable time. The OR won't know if the conditions for a BRO are met until they have thoroughly investigated the financial history, or the BR hasn't been entirely co-operative with the OR.... don't' worry!

bradztheman

In such an unlikely event, the BRO would probably mean continuation of bankruptcy restrictions for a considerable time. The OR won't know if the conditions for a BRO are met until they have thoroughly investigated the financial history, or the BR hasn't been entirely co-operative with the OR.... don't' worry![/QUOTE]

will i still be discharged after 12 months even if i get a bro? wheni am likely to find out if/when i receive a BRO? could it be in a few weeks or months time? How long will they take investigating?

PippaGirl_2

Why do you think you might get a BRO Bradz? It's not normally in people's minds.

tigerfeet2006

bradztheman wrote: »

In such an unlikely event, the BRO would probably mean continuation of bankruptcy restrictions for a considerable time. The OR won't know if the conditions for a BRO are met until they have thoroughly investigated the financial history, or the BR hasn't been entirely co-operative with the OR.... don't' worry!

will i still be discharged after 12 months even if i get a bro? wheni am likely to find out if/when i receive a BRO? could it be in a few weeks or months time? How long will they take investigating?[/QUOTE]

Yes you are still discharged after 12 months. The OR can impose it anytime during the BR but it usually follows another interview which is usually face to face. Why do you think you will have a BRO

bradztheman

because most of my debt was due to gambling

debtinfo

If you were to get a BRO you would have a second interview that would be at the OR's office this would happen several months after the bankruptcy starts

bradztheman

what will it mean to have a BRO after im discharged??

wildheart83

It means you're still under the restrictions of BR - no credit over £500 without informing the creditor of your status, you can't be a company director etc.
If you agree then you'd be given a BRU (bankruptcy restriction undertaking) and it's usually more lenient than a BRO, which is done through the court and can last upto 15 years but that's only in very very extreme circumstances.
If it's only been a few weeks since you went BR, if you were to get a BRU then it'd be months down the line, try not to worry about it for now.