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betterlatethannever,
I agree with everything that has been said. There is not an exact figure of deficit or surplus on your I&E that allows/disallows bankruptcy, as each persons situation can be radically different but still end up with BR being the best option.
When you go BR you have to supply make 3 fundamental statements.
1) A legal declaration stating "I am unable to pay my debts." (form 6.27)
2) A full statement of your affiars including debts, I&E, reasons for having difficulty etc. (form 6.28).
3) Confirm to judge/clerk that you have sought professional advice.
After the BR order being made the OR takes over.
If you want some detailed info on IPA's you can look here:
http://bankruptcy.informe.com/income-payment-agreements-ipas-dt18.htmlFree/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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