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T O P I C R E V I E W
jack65
Posted - 14 April 2008 : 13:20:06 If i go down the route of bankruptcy then how much might the IR take from my income at source to make payments against the money i owe. I have very little disposable income anyway but wondered if this matters. I owe them about £4800. How long do the payments go on for ?
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Helpful Advice
Posted - 14 April 2008 : 17:55:00 Hi Jack,
If you have a debt to the Inland Revenue then this will be written off as part of your debts if you follow the route of Bankruptcy.
If after you income and expenditure is calculated you have a disposable income (money leftover) then you could enter into an income payment agreement with the OR this would last for 3 years regardless of the amount of disposable income you have.
