A Friend in Need Advice please

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maccamoon

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Post by maccamoon » Tue May 13, 2008 7:21 pm
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i am currently helping a friend decide if bankruptcy is her best option.she has about £70k unsecured debt,an income of about £17500,single ,no kids ,rent about £475p.c.m
Question if she opts for bankruptcy is it likely the trustee would apply for an income payment order (IPO) & if so how much is it likely to be?[8)]
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Viki.W

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Post by Viki.W » Tue May 13, 2008 7:32 pm
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Welcome to the forum. It will depend on her disposable income really. I'm sure an expert will help you shortly . X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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Moneystinks

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Post by Moneystinks » Tue May 13, 2008 9:14 pm
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I hope you get the advice you require.
I have responded to pop your post back up to the top. An expert will be along shortly.
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Adam Davies

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Post by Adam Davies » Tue May 13, 2008 9:26 pm
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Hi
It is hard to give difinitive advice without a thorough fact find but generally if you have no assets then bankruptcy is less painful financially than an IVA,however you can still pay over upto 70% of our income for three years if an IPO or IPA were set by the OR
How much disposible income does your riend have ?
Andam Davies
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