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T O P I C R E V I E W
e1270
Posted - 10 November 2008 : 23:36:17 My husband and I went bankrupt in May of this year and we have just filled in an IPO but after reading some information on another site re income and payments form and the amount you are allowed for clothing etc. how much they can take of you up to 70% of whats left we are concerned that we will be left with not much to live on what I am asking can they leave you with so little
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 11 November 2008 : 01:38:41 Hi
the income payment agreement takes a percentage of disposable income ( BETWEEN 50 - 70%) AFTER ALL required costs have been accounted for.
You need to ensure that you take list all your household bills to ensure that you are not left with new debts.
there are some previous threads on the forum that identify what is classed as an allowable expense.
interestingly it seems that a modest break is allowable with up to £20 per month per person.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
