Saturday, July 17th, 2010

I started debt relief order March 1st 2010, can I now receive a £2000 Cheque for a medical trial?

debt relief
Daniel K asked:


I started debt relief order March 1st 2010, can I now receive a £2000 Cheque for a medical trial?

Surely I can cash it at cash convertors if it will disrupt the Debt Relief Order.

But I have heard that sometimes the clinic reports your earnings to the government at the end of the financial year.

So will I be ok or not?

If not, how can I balance the books to say I have expenditure matching that?

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2 Responses to “I started debt relief order March 1st 2010, can I now receive a £2000 Cheque for a medical trial?”

Steve B Says:
July 17th, 2010 at 8:33 am

What does the DRO say ???

At a guess, it says you have to pay £XX per month, no matter what your income ??? In which case, so long as you keep paying £XX per month there’s no problem … (in fact, if you use the £2000 to ‘overpay’ maybe your DRO will end sooner and cost less ?)

MIVAA Says:
July 18th, 2010 at 12:52 pm

I believe the DRO is quite clear on this.

If you indeed do receive the funds for the medical trial, and you fail to report your change in circumstances to the intermediary or Official Receiver, I believe you are committing a criminal offence.

If they were to discover your payment and realise you had failed to disclose it you could find yourself in serious trouble.

Talk to your intermediary about your legal obligations under the DRO before you make your decision on what to do with the payment.

I hope this helps

MIVAA

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