Offered a better job whilst bankrupt

dunchutch

****you are all right! sorry....I will take the job...and I will tell the OR.....******

Hi all,

I am after a bit of advice....I am almost 6 months into my bankruptcy. It was a very straight forward one, no house etc as I rent and I was not earning enough to have to pay anything. I will be automatically discharged on 29th March next year.

I have spoken to my offical receiver and he has said that they are too busy to do any "early discharges" at the moment so I will have to wait until the end of my 12 months. He did however say that the case was closed and they will not be doing any further checks either now or before the end of the 12 month period.

I think I am about to be offered a job earning more money - just wondering if anyone has any experience of this. It will be a very pressurised job and I don't want to take it if all the extra money gets taken away from me! I know this sounds selfish but it really isn't worth it if I get no benefit.

What I want to know is is there much chance that it would be noticed or should I go for it and not say anything?

thanks
duncan

Spamfree_2

You don't want to take a job that is better paid because you are afraid you might be stung for some of the massive debts you have? Oh my goodness!

johnmc

Why should anyone give you a free ride?

You are morally bound to take responsibility for your own actions (read; debt).

Take the new job, work your a**** off and pay back what you owe.

PippaGirl_2

Dunchutch, absolutely no one here is going to say it is ok to break the terms you agreed to when you went BR, which is to notify the OR within 21 days of circumstances (such as income) changing. Don't even ask it.

kation

Hi Dunchutch,

The really great thing is to choose yourself what to do (and tell the OR within 21 days).

If you want to take the job and associated raise you will be asked to fill out an IPOQ (income & expenditure questionnaire) by the OR. From this you *maybe* asked to sign an IPA (which will run for 36months). So you will weigh up the extra money (which you might not keep), the extra stress of the job, satisfaction, career progression, etc... and make your own decision.

If you stick with the status-quo then you will more-than-likely be discharged on the one year anniversary of your bankruptcy without an IPA and be free to do as you please.

You are not morally bound to do either!!! Look at it as a cool 'business decision' and you won't go far wrong.

sniggings

it is different if you were to give up a job so not to get an IPA but even then it's your choice, same with taking a job, the rules are now designed to where someone will not want to better themselves or take better paying jobs as ALL excess is now taken, the old system was better where around 50% was taken, overall I bet debtors do worse with this system.

tbh I would also find it hard to take a job knowing I would be no better off wage wise.

lazer

kation wrote: »

Hi Dunchutch,

The really great thing is to choose yourself what to do (and tell the OR within 21 days).

If you want to take the job and associated raise you will be asked to fill out an IPOQ (income & expenditure questionnaire) by the OR. From this you *maybe* asked to sign an IPA (which will run for 36months). So you will weigh up the extra money (which you might not keep), the extra stress of the job, satisfaction, career progression, etc... and make your own decision.

If you stick with the status-quo then you will more-than-likely be discharged on the one year anniversary of your bankruptcy without an IPA and be free to do as you please.

You are not morally bound to do either!!! Look at it as a cool 'business decision' and you won't go far wrong.

I disagree - you have the opportunity to pay off more of your debts, which you took out in good faith and with the full intention of paying back I'm sure, so therefore you have a moral obligation to take this opportunity to take the job and pay the debt as much as possible.

From a career progression point of view it also makes sense for you to take the job.

Maizy

I see your message on your first post - no need to say sorry to anyone here. Its only those who have gone through BR whom truly understand the ins and outs, the strains and the stresses involved.

You have an obligation to yourself to do what is right for you and learn from mistakes if any were made, help yourself get over BR and move on with your life, after all you have gone through a perfectly legal process to rid your debts. We all arrived here through differing circumstances but many of us appreciate BR comes with its own downfalls and is no easy thing to go through, far far from it indeed.

As other posters have pointed out , all surplus income is taken now in BR which makes it far less inviting to better ones career or do overtime, we are only human and I get this totally. Three years may seem a long time when caught in the midst of BR. Career could be important to you? but not so much to the next person, we all have rights and are individuals to choose how we wish. If you wish to take the role, then do so for yourself, to better your career it won't be a bad move after all.

Your other obligation until discharge is to the OR to inform them of any changes to your circumstances. I wish you well whether or not you take the extra income is solely down to you. Maybe do another SOA based on your new wage. x

PippaGirl_2

I agree with Kation entirely. I've been very ill and can't work atm but there is the possibility that I might be well enough to work before AD. Living on benefits no money is taken at present but if I work all surplas income will be taken less £20pcm and the stress of what if something breaks or even what I pay out due to disability at present (if I lose my DLA this money will still need to be paid out) means the mental stress would in all probability bring about a relapse. I've been advised not to work for my health so I can empathise with those that might not be able to cope with the stress of an IPA and would want to avoid it. But what I did object to in the OP was this comment

dunchutch wrote: »

What I want to know is is there much chance that it would be noticed or should I go for it and not say anything?

being dishonest is not part of something anyone here would condone. Besides if caught and found out you risk serious consequences even after AD.

debtinfo

sniggings wrote: »

the old system was better where around 50% was taken, overall I bet debtors do worse with this system.

I disagree, They publish the total number of bankruptcies, total number of IPAs and total income from IPA's for each years so with a few calculations you get the following roughly

2009/10
Approx 68500 new cases
22% of new cases had an IPA
total IPA income ~£30 Million

2010/2011
Approx 49500 new cases
25% of new cases had an IPA
Total IPA income ~£35.3 Million

2011/2012
Approx 35500 new cases
29% of new cases had an IPA
Total IPA Income ~£35.8 Million

kation

Lazer - bankruptcy is not a punishment, it is an administrive procedure.

Dunchutch has no moral or legal obligation to take the job; in fact I think he has an obligation to himself and his family to make the *right* decision.

Most of us bankrupt people are here because we made the *wrong* decision or more often decisions - whatever those where, they are in the past and it is a fool that makes them again. Rant over.