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Bonus Payment During Bankruptcy- Any Experience?
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Daisytaboo
Posts: 3 Newbie

Hello,
I’m looking to see if anyone has had any recent, or not so recent, experience of receiving a bonus payment during their bankruptcy.
I’m looking to see if anyone has had any recent, or not so recent, experience of receiving a bonus payment during their bankruptcy.
I am only 1 month in to being a bankrupt and I have been given an IPA of £42 per month.
Today I discovered that I am receiving a surprise £1000 (before stoppages) bonus payment from my employer which I know I have to declare to the OR.
I was just wondering if anyone might know roughly how much of the bonus would be taken?
I’m assuming they will take all of it as it is classed as a change in circumstances but I was looking to see if anyone had had just a percentage taken from extra income/windfalls etc?
I’m definitely looking at worst case scenario with this and not expecting to keep any of it.....that way if they do let me keep a small amount it really would be a bonus ☺️
Thank you for reading and also in advance of any replies.
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Hi @Daisytaboo
I've had two bonuses on my IPA.
On both they took approx 60% of it after tax.
But your mentality is correct, assume the worst and anything better is great.
Try and keep it stored away somewhere when you get paid it (whatever is left after tax) as sometimes they aren't the quickest at coming back ref these things and both of mine i had to chase for 2 months after i was paid it to settle it up.
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