Questoon about BRU

AliceInWonderland88

Hello everyone!
So it happens I'm entering bankruptcy restrictions undertaking for 4 years ( no IPA) after I'm been discharged on March next year, but I can't seem to find info about one thing... What happens in situation if my income increases due to better job or I receive lump sum money from inheritance, lottery etc, or obtain assets? Would I have to pass it to OR or it would be mine to keep?
And also has anyone been bugged by OR till discharge - asked for statements again after a while or proof of various things?( For example I've been asked to send in income payment questionnaire for some reason few days ago, though it was given with application form ages ago). Was curious how these bankruptcy stages has affected others
Thank you for reading.:p

debt_doctor

Hi,

Having a BRU/O makes no difference to declaring assets or income. You will be discharged from BR in March (providing you cooperate with the OR) and if you are discharged with no IPA then you will never get one.
Similar, once discharged, any new assets are yours to keep.

What the BRU/O will do is extend the restrictions of BR - not the BR itself - so for a further 4 years you cannot borrow more than £500 without disclosure of BRU, cant be company director or involved in formation / management of a company and can't be trustee of a charity.

DD