Job for an undischarged bankrupt!

lucylocket39

Hi all!

Both myself and my OH were made BR on 2 April this year. About 2 months or so ago we filled in the SOA with a view to a possible early discharge. Then over a month ago i received a letter saying that everything has been investigated and that the OR was to make an application to the Govt for early discharge..we have heard nothing since. However i have just been offered a part time job..what should i do?

Would appreciate any advice! Thanks!

tigerfeet2006

I an assuming you don't want to take the job as you think you might get an IPA.

Have you checked the Insolvancy Service website to see if you are still listed? They don't always send you a letter.

http://www.insolvency.gov.uk/bankruptcy/bankruptcysearch.htm

If you are not worried about an IPA then there is no problem with excepting the job and just notifying the OR of the change in circumstances. Don't forget yiour I&E could have extra expenses if you are working ie:travel expenses, work clothes.

philnicandamy

Absolute minimum time frame is 5 weeks (plus a few days for admin) after you return the forms.

But that would only happen if your OR wrote to the creditors asking for any objections immediately upon getting the forms back from you. In practice many wait 3 weeks from the ED/IPOQ letters issue before writing to creditors even if you've returned them double quick. So 8 weeks minimum if they do that.

All that said, it took my OR over 2 months to get it all done and file for the ED .

Do what tigerfeet suggested..I only found out about my ED by searching the insolvency website...I received a letter from my OR confirming it today

Good LucK

lucylocket39

Hi

I am still registered on the insolvency site (just checked). Is that the place where it goes from first?? It is a part time job of 32 hrs, which would make me better off in theory by £100 per week, but i guess now i'll have to pay out for more things such as dental and prescriptions, travel etc. Would i be sent out another form at this late stage in the proceedings? I can't remember how much left over there needs to be to make a contribution? Would love to do the job if i could!

Thanks all!

tigerfeet2006

Yep! that is where it goes from first.

Pop up your I&E and we will peruse it to see if you are claiming for everything. You would pay an IPA if you have a surplus of £100 a month.

fiveyearplan

lucky - you'll still be on the insolvency register even after ED. Did you look through somewhere on there it says if you have been discharged. Worth looking at again.

philnicandamy

look on the Insolvency page again

look for "Insolvency Case Details"

a little down the list you should see something that says "status" read across and "if" you have received ed you should see as an example "Discharged On 01 November 2007 (Early Discharge) See FootNote"

lucylocket39

Hi again guys

Thanks for your time! Had another look like you suggested and didn't see anything that mentions i'm discharged sadly. I know when the letter came about handing over as trustee not to bother the OR about the early discharge, but i'm just wondering if it's worth emailing or something?? Do you think it's a good idea??

fermi

The OR applying for "release as trustee" and the OR starting the early discharge process are two different things. They just very often happen at about the same time in many cases. (Mine happened 4 months apart!!!).

For the early discharge, you should probably have received a letter (probably with EDREV in the top-right corner) and an IPOQ (income payments order questionnaire). If you returned this promptly then you may be looking at ED from 5-8 weeks from this at the earliest (mine took 3 1/2 months!!!).
It really depends on how busy your OR's office is. The admin work for ED is very low in priority, so if the office has lots of new cases your ED might stay at the bottom of the pile for ages.

In other words, you can hope for ED to happen speedily (if at all) but you shouldn't really expect it.

As far as an increase in income is concerned, while you are undischarged you must notify the OR within 3 weeks, If it results in a level of surplus income of £100 per month or more then the OR may consider an IPA, which can only be implemented before discharge. The IPA would take between 50-70% of the surplus on a sliding scale, and would continue for 3 years. If you income changes up/down the IPA could be adjusted accordingly (or even stopped).

So it's really up to you about the job. It depends on how much you want it, how much you want the money, whether you are prepared to risk paying an IPA, or whether you think it's best to sit tight and hope.

lucylocket39

Thanks Fermi for your advice..it's an awful dilemma! This has all just come at the wrong time for us..the job is a brilliant offer but i can see us ending up paying an IPA..just don't know what to do for the best?? We are so close to being discharged too.

lucylocket39

Does an IPA start after being discharged??