How likely is it that I would have to make monthly payments after the 1 year. I have read a few blogs where they are still paying 3 years later. Thanks
that depends on if your disposable income is over £99 before you are discharged if it is the OR will likely set up an IPA income Payment Agreement which takes between 50% -70% of your DI for a period of 36 months
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) RevivaUK helped me through it all i can't recommend them enough!!
Thanks. So if I have less than £99 surpluss income within the 1 year of bankrupty then the payments will end at the end of the bankrupty but if they are then I will have to pay for 3 years after the bankruptcy. I am living with my partner at his paretns. Say I get a job within the bankrupty and we move to rent, do they then do change of sircumstances and work ot out again. Thanks
if you ahve £99 surplus income during BR you will make no payments towards your debts. If your income changes during BR >£99 you will get an IPA (36months) but if your circumstances change ie. renting somewhere your DI is reassessed and if less than £99 no IPA payments
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) RevivaUK helped me through it all i can't recommend them enough!!
Hi How likely is it
Posted - 21 November 2009 : 12:27:03
