bankruptcy

[sarah-tri]

I am bankrupt and it will be a year shortly so i think that means they should release me from it. Would there be any reason why i wouldnt be released? as I am still paying a contribution to the receivers for another two years and can they still have access to my bank account if they want to after Ive been released? ie: if i want to get a better job with more money after my release will this go against me?
Thanks

[themas]

Unless you have a BRO (which you would know about) you get discharged after 12 months. But your liability to make payments runs for 3 years from when it started, and you are under a duty to notify the OR within 21 days of any changes in your circumstances throughout that time. So if you get more income you have to tell him and the payments you make will be increased unless your essential expemditure has also gone up.

[shomer42]

They will not release you if your conduct either before or during the bankruptcy has been criminal or reckless etc.

If your income increases they can seek to increase your monthly contribution and you are obliged to tell them of any increase, however if your income does increase you are also entitled to spend more of that income on yourself, but not too much.