Quick Question Dose Anyone Know About Bankruptcy

earwig

hi my oh is bankrupt and is just wondering what percentage of surplus earnings they take from you thanks

Addicted2Chocolate

varies between 50% for small surplus to 70% for large surplus....

viccig

for how long do they take that surplus off you?

Addicted2Chocolate

an income payments agreement normally lasts for 36 months..so 36 monthly payments. may be less depending on circumstances: eg if person was retiring in 24 months then would run for 24 months.

Addicted2Chocolate

information about how IPA's are assessed is available under the Freedon Of Information act, it is under technical Manual Chapter 31.7:
http://www.insolvency.gov.uk/freedomofinformation/index.htm