Offered a better job whilst bankrupt

capeverde

OP, you could always ask your potential new employers to cap your wages to your existing level until after your discharge. I dont imagine they would be against this and you would have no need to notify the OR as your financials wouldn't have changed. You will get howls of derision off many on here, but you have to do whats best for you. Life's not always simple.

tigerfeet2006

Do two new SoA's one with the new wage for job one with all your new expenses like travel etc. and then do one for job two. If you want to pop them up then someone will check them for you.

haselgre

Thank you so much for your replies - I really do appreciate it.

When I used one of the xls spreadsheets that someone had put on one of these forums, I worked out that my "basic outgoings" would be around £2000 a month. Job one is paying £55k so take home around £3100 a month. Job two would be paying around £30k so take home around £1900 a month. I live in quite an expensive area, (although our house is tiny) and I have medical bills, hence the high outgoings.

I've added my partner's debt to my creditors, which makes up about 1/3 of the total, so at least he would get some of the money that I am paying to the IPO/IPA.

Putting aside any chastising (I'm doing that enough myself), if anyone has any advice I'd be v grateful.

Thanks. x

singingsister

If it were me in your situation, I would find if potential employer 1 would cap your salary until you are discharged and then give you a "pay rise". Can't see why not - it's saving them money in the meantime!

At least then you've got something really positive to look forward too after bankruptcy and can start to make a positive change going forward.

You won't get any chastising from me. I think this bankruptcy malarky is hard enough without people chastising you on the "right" thing to do. I don't really think in our situations there is a right thing to do and you have to do what is the best thing for you.

mysterio_2

those spreadsheets are a guide.....and sadly out of date

haselgre

singing sister
What do you mean by capping the pay? Do you mean accepting a lower wage? It would make more sense for us to have that extra money go to the OR as at least then my partner should get some of it as a creditor, than accepting a much lower salary and neither of us getting anything.
Thanks for the advice, and empathy.
:lovethoug

[Deleted User]

Don't forget that new jobs are about more than just the salary. The experience and contacts made could be a huge help to you later down the line. You might not get the opportunity again for a while, if ever.

debtinfo

People have to make their own decisions but one thing that you may not have considered is this, Bankruptcy is a self financing part of the government and on average a bankruptcy costs £1715. Now when you go bankrupt you pay a deposit of £525 towards that and the rest is paid for out of a pot of money that comes from all the fees taken from assets and IPA's, Therefore if everyone avoided paying an IPA the the deposit you pay to have the bankruptcy granted would be much higher so therefore making it harder for all your fellow bankrupts to gain that protection from creditors when the time comes.

Lou67

lazer wrote: »

It is a adminstraive procedure which is necessary because someone has debts which they cannot pay for whatever the reason.

There is IMO always a moral obligation to pay that debt.

If someone owes for example £100k, lives on benefits, and becomes bankrupt, and is sunsequentially discharged, and then wins the lottery the next day - legally they have no obligation to any of their previous creditors, but morally they still do.

I know of many small business (mainly sole traders), that have gone under because their clients have gone bankrupt (and yes bad debt is an expense for any business, but for a tradesman, it can mean the difference between being and business or not), and 1 year later the same people are driving around in new cars, going on foreign holidays etc. It is not a nice position to be in.

IMO - the Bankruptcy laws in this country are too easy, there should be mandatory payments for a minimum of 3 years (even if you are on benefits - if absent fathers can live below the benefit level after paying £5 a week), so can bankrupts.

OP - I recognise that you do not get to keep much of additional money you would be earning, but you do get a better job, and this will lead to further opportunities etc for you regardless of the BR,

I don't very often get narked off by what people put, but find your views horribly judgemental and frankly rather pious. I have never ever known anyone go bankrupt and then be driving brand new cars and going on foreign holidays and having 'all these kind of luxuries' a year later. I have never read anything so absurd.

I can only assume that YOU have never gone bankrupt 'Lazer' and therefore IMO, have no right to such judgemental views. I assume you haven't gone bankrupt because you have your house paid for (as you boast about it in your signature...) And if you HAVE ever gone bankrupt (which I doubt,) then you should understand that people don't do this lightly and people don't intend to get themselves into such frightful debt. Do you think everyone does it on purpose?!

Mine and my partners was through a number of different circusmstances which are nothing to do with ANYbody, but suffice to say, we paid our way for 30 years and were never even late paying one single bill! And it's people like you on their judgemental high horse who made life difficult for us when we DID go bankrupt. We were going to lose our house and the letting agencies looked as us like we were pondscum when we said we were going bankrupt. And several of my partners 'friends' no longer have anything to do with us.

I and my partner had to go bankrupt 2 years ago. And as for having all these luxuries you waffle on about; what rubbish. We have a 18 year old car, which we saved for and got for £400, we still live in private let, we havent been on any 'fancy foreign holiday' for 9 years, we can't even get a catalogue or a chequebook,and we have NO money to help our daughters through uni or to pay for their weddings, and no access to any... and the bankruptcy happened through no fault of our own ... it was bad circumstances...

Yes we expect to not be able to have much after going bankrupt but when someone says a year after bankruptcy people have all the luxuries again. it makes my blood boil as it's RUBBISH. What planet do YOU live on? And it makes me sick to read such pious and judgemental posts as yours. Thank GOD for the C A B and one kind letting agent who helped us, and if YOU are ever in the same position, and trust me it can happen to ANYone; I hope people treat you with more respect than you treat people on here.

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