Remaining money after bills

luvchocolate

I was so honest and during my B.R year (no I.P.A) I let my trustee know when the tax allowance went up and I was £20 a month better off!! She laughed and told me to eat better!!!
Please do not worry we are looking at very small amounts here

sourcrates

You just have to use common sense, people think because they are bankrupt they are not allowed a life, or they are watched like in big brother, the truth is far from that.

They are not interested in small changes, only significant ones, i suspect its a little like survivors guilt with some bankrupts, they feel they should be paying every last pound they can, when really its not nessessary to do so.

TheGardener

Minkym00 wrote: »

Making a few savings on your budget here and there isn’t going to raise a concern.

But the reason I disagreed with The Gardener is because they said you only inform the OR if your income changes - this is the not correct advice as you are obliged to tell them if your expenses significantly change.

I stand by the advice in this case. The OP asked a question about savings within their budget and I believe the advice given was correct. However, perhaps I should have used the word 'circumstances' rather than 'income' - then the BR should inform the OR. So if the OP had moved and was significantly better off due to cheaper rent (or vice versa) then yes, that would be a thing to inform the OR about. But saving a few quid on a phone bill - that is not something you need to tell the OR about.

Minkym00

“You only need to tell the OR if you have a pay rise or pay cut - so a change to your actual income”.

This is what was incorrect in your post, irrespective of the rest of your advice.

TheGardener

Minkym00 wrote: »

...This is what was incorrect in your post, irrespective of the rest of your advice.

TheGardener wrote: »

... However, perhaps I should have used the word 'circumstances' rather than 'income' ....

er - yes - that's what I said.

bradders80

If the OR has allowed you this expenditure for your mobile, and you don't use it, you don't need to tell anyone. However, I would avoid allowing money to stack up in your bank account so perhaps withdraw it and keep it under the sofa for a few months.

I seem to remember a while back someone asking whether they could spend 25% less on food in order to save up money for something or other - of course you can, but I wouldn't leave the money anywhere the OR could potentially find out about it.

Cloneshormone01

Reading all this has brought back bad memories. I was stung for £300 a month for three years IPA and this was done by cyber communication not face to face meeting with OR. Another colleague who was on same salary ( but less debt in his BR estate) argued his case ...kids...crèche....petrol etc and paid NOTHING. He wasn’t officially challenged. I was glad to be able to clear the huge debt (only to big institutions and not independent traders etc) and £10800 was the price to get my head cleared. However I did have some cognitive dissonance about not challenging the penalty.