Will i have to do a new SOA???

wharty

Hi everyone, hope you are all well.

I was made bankrupt in June and was wondering if i will need to do a new SOA?? I have heard this happens sometimes??

What circumstances would warrant a new one or does everybody have to do one?

We have been sticking to ours and have a surplus and was wondering if the OR would take this from us?

Will we have to give bank statements as part of the new SOA??

Thanks a million.

TheGardener

As far as I know - the OR would only ask for a new SOA if you report significant changes (as required by law and within 21 days of the changes taking place) to them - lower or higher income or change in circumstances - divorce etc.
It would seem logical the OR would ask for proof of the changes and bank statements might well be such evidence. However, if you have been extra frugal and managed to save a bit of cash within your agreed IPA/SOA then no, they can't ask for that to be handed over.

National_Debtline

wharty wrote: »

Hi everyone, hope you are all well.

I was made bankrupt in June and was wondering if i will need to do a new SOA?? I have heard this happens sometimes??

What circumstances would warrant a new one or does everybody have to do one?

We have been sticking to ours and have a surplus and was wondering if the OR would take this from us?

Will we have to give bank statements as part of the new SOA??

Thanks a million.

Hi wharty

From what you say, it doesn't sound as if there have been any material changes in your situation. So nothing to report to OR as far as I can see. If you have managed to save a few £ by undercutting the SOA figures since going BR, good for you. Indulgences tend to be thin on the ground while you're bankrupt so don't feel bad about spending it how you see fit.

Regards

Dennis @NDL

wharty

Hi Thanks for the answers.

No nothing has changed. My wife has done 3 extra shifts since June to cover a maternity and i have had one shift since June. I informed the OR last week when i did the shift and they told me to keep the money.

We have been frugal and have a bit extra from selling unwanted items in our home etc.

I was basically just wondering if a second SOA was required and was under the impression that it's what everybody is asked for after a few months.

Very happy to hear we wont need to do one unless things change.
Again thanks for the help.

TinyToes

i think this depends on where you like. In Scotland AIB/trustee asks for a soa with payslips and bank statements every 6 months.