# Bankruptcy; Where from here?



## Noregrets (21 Mar 2017)

Hi all,
I've been cleared from Bankrupcty Nov 2016. And have monthly payments of €138.00 to PIP until 2019. Ive managed to save a few quid each month by scraping and cutting back . I was entitled to tax back of app €700 for 2015 but the OA has blocked it and its been sent to him now even tho I was waiting and counting on it for my daughters communion in May. This leaves me in fear to put my savings in to my bank account now incase the OA intercepts and takes everything I have ( which by the way is nothing much to anyone but to me its millions in my situation). Can anyone fill me in on how do I get back to normality with savings & building credit . I want to be able to eventually buy a home for my daughter and I to call our own. Feeling lost . Thank you for your patience and time in advance.


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## so-crates (21 Mar 2017)

Savings are different to windfall income. It might be worth asking the OA how they would view any savings you might try to accumulate.


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## Noregrets (21 Mar 2017)

Thank you so-crates ,  could you recommend a site that gives you a guideline of what to do's and what not to do in regards to getting back on track after bankruptcy while under the watchful eye of an OA. I have researched endlessly but only come up with before and during Bankrupcty failed to find anything for life after .
Thank you for your response .


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## so-crates (21 Mar 2017)

I'm afraid I can't recommend any guidelines - perhaps one of the experts on here will be able to help. What I can find is that savings are explicitly included in reasonable living expenses.
[broken link removed]


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## so-crates (21 Mar 2017)

I'm afraid I can't recommend any guidelines - perhaps one of the experts on here will be able to help. What I can find is that savings are explicitly included in reasonable living expenses.
[broken link removed]


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## Adecco (23 Mar 2017)

Noregrets said:


> Hi all,
> I've been cleared from Bankrupcty Nov 2016. And have monthly payments of €138.00 to PIP until 2019. Ive managed to save a few quid each month by scraping and cutting back . I was entitled to tax back of app €700 for 2015 but the OA has blocked it and its been sent to him now even tho I was waiting and counting on it for my daughters communion in May. This leaves me in fear to put my savings in to my bank account now incase the OA intercepts and takes everything I have ( which by the way is nothing much to anyone but to me its millions in my situation). Can anyone fill me in on how do I get back to normality with savings & building credit . I want to be able to eventually buy a home for my daughter and I to call our own. Feeling lost . Thank you for your patience and time in advance.



Well...as I understand it the OA cannot touch anything you receive post-discharge - unless its money that would have been owed prior to you prior to being discharged from bankruptcy (Like your tax back for 2015 for example which was pre November 2016).
The figure of €138 was calculated as you were presumably that amount over the RKE upon discharge.

Anything you earn after discharge is yours and yours only. If you win the lottery this week the OA cannot touch it.

That's certainly my understanding anyway.


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## Noregrets (23 Mar 2017)

Thank you for your reply ; That was my understanding with post Bankrupcty and the OA but it appears not  to be the case as Ive received an email stating any extra overtime and monies earned I must notify by email for the next 3 yrs . which leads me to having all my savings in cash and not in an account


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## Bronte (24 Mar 2017)

But savings are not extra earnings. It is money from saved from earnings.  Can you not ask the OA if you can save, other posters mentioned they were very friendly to deal with.


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## Adecco (11 May 2017)

I've looked into this just in the past hour which is how I noticed your thread now.  (in fact I've posted a new thread an hour ago looking for info myself)

I'm certain savings are fine. But I think any windfalls or new increased earnings are up for grabs. (At least that's my reading of it)

It seems very unfair.
For someone who is marginally within the RLE for the year is completely fine. But if you're marginally above - as is your case - you're on the hook for another 3 years for any increased earnings or windfall. As good as being bankrupt all over again.
It really discourages people to come clean on any increased income during bankruptcy itself.

My suggestion:
Are you allowed use a 3rd party to pay the entire amount off in one go? Thereby releasing you from ipo entirely.
€3k loan from a friend or family would get you out of it.

Or else if somehow your earnings decrease for a few months then maybe the OA will cancel IPO in view of no surplus available.


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## glic83 (13 Jul 2017)

Is it not the 1 year bankruptcy and a further 2 years? Being a total of 3 years? Or is it in fact a total of 4 years?


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