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Discharge

Airborne101265
Posts: 2 Newbie

Hi all, my first post on this forum.
I'm currently going through the process of bankruptcy. Self declaration.
I'm led to believe the discharge period is 12 months normally.
I have heard however of others being discharged after only 3 months if their circumstances have no chance of improving.
Any help or advice on this would be much appreciated.
Thank you.
I'm currently going through the process of bankruptcy. Self declaration.
I'm led to believe the discharge period is 12 months normally.
I have heard however of others being discharged after only 3 months if their circumstances have no chance of improving.
Any help or advice on this would be much appreciated.
Thank you.
0
Comments
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Hi and welcome. Early discharg is a thing of the past now. It's automatic after 12 months1
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OK thanks for that, and is it true that if you work during your discharge period, they will take every penny above and beyond what you need to survive?0
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First of all, Welcome to the forum,
(Why the pink hat? 😉.. Ex-RE here)
No.. in answer to your question..
You can live quite comfortablely whilst in BR with an IPA.
I've recently been discharged myself and can speak from my own personal experience. 👍0 -
The allowances for BR are to give you a reasonable standard of living.
If you have for the £20 surplus you could be subject to an IPA for 3 years. This can go up or down if your circumstances change.
Pop up your SOA and we will have a look0
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