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Posted: Sat Sep 21, 2013 6:01 pm
by flamingate
When you are bankrupt you should follow the ORs rules, not take out any credit, note hide any assets etc.
But how long are you under this 'watch' (or whatever it is called) from the OCs' BR rules?
1 year?
while undischarged ?
2 years after discharge ?
in other words, when does he let you go....etc ?
Posted: Sat Sep 21, 2013 6:19 pm
by Michael Peoples
Once you are discharged you can do what you like and the OR has no further control. If you have an income payments order this will run for three years but cannot be increased post discharge.
Posted: Sat Sep 21, 2013 6:32 pm
by flamingate
How much control does he have over you?
does he let you go to the bathroom unattended ? lol.
Just joking....I thought I would liven the forum humor.
Posted: Sat Sep 21, 2013 6:34 pm
by Michael Peoples
The OR has a pile of work and given that they are civil servants they just want to do the job and go home. It is not 'Big Brother' stuff so nothing to be worried about.
Posted: Sat Sep 21, 2013 10:41 pm
by Skippy
Michael, I stand to be corrected on this but I'm sure an IPA can be increased/decreased/suspended after discharge. If I you are subject to an IPA you have to notify the OR of any changes in circumstances for the duration of the agreement.
Posted: Sat Sep 21, 2013 11:45 pm
by The Major
An income payments order can be suspended or lowered after discharge, by application of the bankrupt, but cannot be increased by application of the OR because as Michael says the bankrupt is no longer under any obligation to the give the OR solicitors normally Moonbeever, ammunition to increase it, and any assets the bankrupt receives after discharge are the bankrupts, or should I say ex bankrupts are to keep.
Posted: Sun Sep 22, 2013 9:48 am
by Skippy
Sorry, I read 'increased' as 'amended'!
Posted: Sun Sep 22, 2013 1:40 pm
by The Major
If you are still under an Income Payments Order following discharge one year, and you come into some money say a substantial inheritance then Moonbeever could ask you to settle the balance of your existing IPO by paying the months you have left at the level it was set up so it finishes there and then, I understand in an IVA the inheritance is taken and monthly payments continue up to 100% of the original debt plus fees.
Posted: Sun Sep 22, 2013 7:30 pm
by Michael Peoples
I agree with what you say Major but I do not think you have any obligation to inform Moonbeever of any windfalls post discharge anyway. It would be up to you whether you wanted to pay it off whereas in an IVA the windfall is captured in addition to any monthly payments.
Posted: Mon Sep 23, 2013 11:24 am
by Skippy
That's what I thought Michael.