Early Discharges

Diamond66

Can someone explain how this works or point me toward a link that explains this please. .... What determines if you get an early discharge? Are those on a repayment scheme (sorry, new and can't remember the terminology ... when you go Bankrupt and then because you have "surplus" income you have to pay some back ... by the way, I was told today it would be 66% not 50% I've seen quoted on here .... but maybe it depends on the amount of money available as surplus?).


Anyway, I'm interested to understand about EDs, if anyone can help.

Thanks

fermi

This link should help.

FAQ - The Discharge Process

The % for an Income Payments Agreement operates on a sliding scale from 50 - 70 % depending on the level of your surplus. 66 % is one of the possible bands.