Bankrupcy

bigdec

Just a quick question if a person become's bankrupt and they have a job is there any cliam on a persons wages with regards to the debt.


:beer:

bluezone

yes you may have to give a contribution from your wages towards the debt for about a year. If however you have no spare cash in your wages after paying out priority bills then they may decide to give you a nil tax code which would mean you have your tax included in your wages each pay day and you give that straight to the receiver.

I hope that helps x

sarah_skint

Does the O.R pick through all your bank statemnets etc and say wheres that gone and that and that? Sorry just asking!

bigdec

My question is more detailed that if someone is declared bankrupt but are able to get a job that pays 1200 after tax what would that mean with regards to the the bankruptcy

CLAPTON

it depends upon your essential spending

and it can be for three years

bluezone

sarah_skint wrote:

Does the O.R pick through all your bank statemnets etc and say wheres that gone and that and that? Sorry just asking!

I didnt have that done with me but I did have a strick interveiwer who asks aall of these type questions

I hope this helps x

bluezone

bigdec wrote:

My question is more detailed that if someone is declared bankrupt but are able to get a job that pays 1200 after tax what would that mean with regards to the the bankruptcy

If your income would increase after you have been declared bankrupt then you will have to notify the official reciever this so that they may adjust your contribution.

I hope this helps x

bluezone

CLAPTON wrote:

it depends upon your essential spending

and it can be for three years

Absolutely it can be for 3 years - Apologies I was only stating the length of time for me is only a year.