bankruptcy and work

zeus1_2

Hi there just found this site and need some info please.

I have recently been declared bankrupt but luckily just found a job thing is now i dont know exactly what i do next i understand i have to contact them but what will happpen will they ask for a means statement or will they require a lot more that i can give.

My total ammount was about £14,000

sparrabeth

It will depend on how much you have spare after your living expenses as to how much you will pay into your BR from what I understand. They will do your budget and take a percentage of your surplus (your income minus your outgoings) to pay into your bankruptcy.

From what I can gather, they are quite generous with your expenses.

JCS1

Hi,

You have 21 days to inform your OR. They will then send you a IPOQ form where you list you income and outgoings. Past this on here first and people will advise you.

If there is a surplus between your income and outgoings, the OR will look to put an Income Payments Agreement in place for a period of 36 months. There has to be a surplus of £100 a month first, and then they only take a percentage.

Hope this helps.

zeus1_2

Thankyou very much very helpful i will post back with more info when i have contacted them.