Offered a better job whilst bankrupt

Mrs_justjohn

capeverde wrote: »

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.

Not sure I understand the logic in that. Op is reluctant to take an a job with more stress / longer hours ertc...if he isn't benefitting from the higher pay (as it was going to pay off his debts). So how would capping his salary be an improvement on that.

Sorry I don't fully understand the whole BR process but surely financially & personally he is no better off than just taking the jobs with the higher pay and not getting it capped?

singingsister

What I mean by cap his pay is that his employer pay him a lower wage meaning he doesn't have an IPA.

Then, as soon as he has his AD, his employer can give him a payrise to what he should have got in the first place.

This extra income would then be all the OP's and he wouldn't loose any to an IPA. Surely knowing you've got a nice big payrise coming once you are AD is something to look forward to?

A light at the end of the tunnel.

capeverde

Mrs_justjohn wrote: »

Not sure I understand the logic in that. Op is reluctant to take an a job with more stress / longer hours ertc...if he isn't benefitting from the higher pay (as it was going to pay off his debts). So how would capping his salary be an improvement on that.

Sorry I don't fully understand the whole BR process but surely financially & personally he is no better off than just taking the jobs with the higher pay and not getting it capped?

The point is that if they accept the higher paid job now, with a few months to go before discharge, they will get an IPA. That will last for 3 years and take off them any excess from an agreed amount they are allowed to live on. Therefore, they will be working the next 3 years and be no better off financially.

If they get their pay capped until AD which is only a couple of months, when they are discharged they will then be able to revert to the higher scale and use the additional money as they see fit.

wildheart83

I was in a similar position to the OP. A few months before my AD I was earning minimum wage, in a job I loved but could barely make ends meet. I wasn't subject to an IPA at this point, but I was offered a job with a significantly higher salary with option of overtime but knew it would be stressful. Very quickly I became ill and the upshot is I ended up in hospital having had a stroke and had to resign. I'm only in my 20s so a bit of a shock to say the least.
I can understand people saying you should pay back as much as possible but my health is more important to me than the moral satisfaction of paying back a couple of quid.

haselgre

Thanks so much everyone. I think I understand what you're getting at re the capping, but it wouldn't be relevant to me unfortunately. I still have 11 months to go before AD, the job is initially a 6 month contract due to go perm probably after that. This job isn't my long-term goal, as I'm going to run my own business again once I'm back on my feet, so it purely is just about quality of life for me (commute, work environment / people, money, health etc).

I think logically it would make more sense for me to take the part-time job (if offered - find out today hopefully!) because then I'll be about the same off financially, but it would give me time to work on my own biz / do volunteer work one or two days a week. I'll accept the City job for now though as at least I'll have SOME money coming in, and I'm only on a week's notice for the first 3 months.

Thanks again everyone - you rock.