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An Update

owetoomuch
owetoomuch Posts: 210 Forumite
in Bankruptcy & living with it
Hello strangers, I have been reading posts but not posting lately, but thought I would share my good news with you all.

Today I received a letter from the ORs office, I have been given early discharge, the letter was dated 5th November and apparently I was discharged 7th November.

I have an IPA so I will be paying some money for the next 3 years, and I have one simple question about that. I have to notify the OR of any changes in income during this period, what would define income, changes to my salary?

Reason I ask is OH often pays for me to go to bingo he pays I play have not had a win for a while, if I did win would I need to inform the OR?

Take care all and remember there is light at the end of the tunnel, the feelings are probably the worst part of the bankruptcy.
Went BR 25th May 2007 at 12.33, OR Interview now done. :eek: BSC No 88

Comments

  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Wow.:D

    Great news about the ED.:beer::j
    owetoomuch wrote: »
    I have an IPA so I will be paying some money for the next 3 years, and I have one simple question about that. I have to notify the OR of any changes in income during this period, what would define income, changes to my salary?

    The IPA is made on the bankrupts "regular income". It's not an windfall tax.

    That means that unless you use any money that you come into (lottery/bingo/inheritance etc) to replace your regular income then it is yours to keep.

    And you are only required to inform the OR of any such windfalls while you are undischarged. :)
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • tigerfeet2006
    tigerfeet2006 Posts: 14,030 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Yaaaay!! Congratulations another chapter over.
    BSCno.87
    The only stupid question is an unasked one
    Loving life as a Kernow Hippy
  • meech78
    meech78 Posts: 118 Forumite
    Well done!! You must feel a huge relief to have been discharged early!! Congratulations and enjoy your new life!!
  • tight_jock
    tight_jock Posts: 1,902 Forumite
    owetoomuch wrote: »
    I have an IPA so I will be paying some money for the next 3 years, and I have one simple question about that. I have to notify the OR of any changes in income during this period, what would define income, changes to my salary?

    Reason I ask is OH often pays for me to go to bingo he pays I play have not had a win for a while, if I did win would I need to inform the OR?

    .

    Congratulations on your ED:beer:

    During your IPA period, you may be asked to complete another SOAbut this is only to guage your REGULAR ins and outs. If your income goes up or down you MUST inform the OR within 28 days as part of your agreement.

    However, a bingo win is not REGULAR income, unless you`re extremely lucky!!

    :beer:
    TJ
    1/11/06 -1/06/07 BSC #42


    For FREE advice. Your local CAB Office - ask to speak to a 'money advisor'.*The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111*National Debtline - Tel: 0800 808 4000*Payplan - Tel: 0800 917 7823*Insolvency Helpline-0800 074 6918
  • philnicandamy
    philnicandamy Posts: 15,685 Forumite
    10,000 Posts Combo Breaker
    owetoomuch thats great news
    heres to the future....onwards & upwards now!
    We all die. The goal isn't to live forever, the goal is to create something that will
  • purple_piglet_2
    purple_piglet_2 Posts: 7 Forumite
    Congratulations on your ED! :T
  • nomoneyprobs
    nomoneyprobs Posts: 166 Forumite
    Congratulations on the early discharge and good luck at the bingo

    Ian
    I had debts, my circumstances changed, I tried but couldn't pay them, I dealt with them in the best way I could.........
    BR - 10 -10 - 2007 11.05 am

    Discharged 07 - 05 - 2008
  • betterlatethannever
    betterlatethannever Posts: 5,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Great news OTM.
    Good luck with your future.
    The first time we said hello, was the first time we said goodbye. As the angels took your tiny hand and flew you to the sky-you forever left us breathless. RIP my beautiful granddaughter :(
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