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Cost of Living payments and bankruptcy.
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S00190
Posts: 14 Forumite
I had the last 2 COL payments before bankruptcy but now I am bankrupt for the next payments £900 over 3 payments would I need to declare these to the OR as everyone who qualifies on a low income and qualifying benefit will get it. I’m only on a Tax code IPA and don’t really want an income IPA for the next 3 years over the COL payments.
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Comments
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Its a benefit, benefit only income does not attract or count towards an IPA.
The COL payment is ignored in most other cases, I assume the same will apply in bankruptcy, check with your OR to be sure.
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No it's benefits income. It absolutely is not going to affect bankruptcy in any way and there's no need to communicate with OR about it. The only income they would need to know about is earnings from work. That's it. Nothing else.0
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