If you go bankrupt

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Fallenhero

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Post by Fallenhero » Wed Jan 28, 2009 8:59 pm
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Just a question...

Read somewhere you may have to pay something from wages for three years..how much is it worked out on??Or have i got that wrong
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Julie

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Post by Julie » Wed Jan 28, 2009 9:06 pm
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Hi there - Skippy will be able to answer your question fully, but in the meantime read her blog. It has the percentages of payments in there as a guide.
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Lisa2009

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Post by Lisa2009 » Wed Jan 28, 2009 9:43 pm
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Have a read through skippy's blog.
There is a mound of information regarding bankruptcy.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


Nil carborundum illegitimi
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MelanieGiles

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Post by MelanieGiles » Wed Jan 28, 2009 10:59 pm
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We generally work on the basis of between 50% and 70% of disposable income, but best to check out the blog just to be sure.
Regards, Melanie Giles, Insolvency Practitioner
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Skippy

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Post by Skippy » Thu Jan 29, 2009 8:49 am
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Once you have more than £100 surplus income you would have to make payments into an Income Payment Agreement (IPA). This lasts for 36 months, and you pay a percentage of your surplus income, not all of it.
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David Mond

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Post by David Mond » Thu Jan 29, 2009 10:02 am
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Probably two-thirds of your surplus disposable income for 3 years.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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Skippy

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Post by Skippy » Thu Jan 29, 2009 10:04 am
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There is a table in my blog showing how the payments are worked out.
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