How much and how long?

cloud9bee

Thinking seriously about going bankrupt

If I do how much of my wages do I have to pay, and for how long?

I heard it was 50% of disposible income over 3 years.

Is this correct?

philnicandamy

You only pay for 3yrs IF you have a surplus of at least £99 a month after all your household expenses are taken into account

this is called an ipa and can be increased/decreased or frozen depending on how your financial circumstances change



You need to talk things over with one of the many free debt helplines mentioned in a sticky at the top of this forum...bankruptcy is a last resort and can have many implications