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T O P I C R E V I E W
Ewen.es
Posted - 08 December 2010 : 13:34:34 Do I keep my wages once I'm declared bankrupt?
1 L A T E S T R E P L I E S (Newest First)
Richard P
Posted - 08 December 2010 : 13:58:08 Hi Ewen
yes you do keep your wages
in effect the Official receiver the people who deal with your bankruptcy allows you an alllowance to live on, anything above that limit, is paid as a contribtion to your creditors. this is called an income payment agreement (IPA)
if after petitioning for bankrptcy you earn less than a prescribed limit you do not have an IPA.
everyones prescribed limit is dictated by their own needs and circumstances
