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Daniel.1z
Posted - 05 July 2011 : 06:48:50 I do work as a builder but because of the nature of my job my pay varies considerably from year to year, some years i can earn as much as £15,000 but last year i only earnt £960! and havn't earnt more than 10,000 for at least 3 years. would I still need to make monthly payments? and How do they work it out when your pay is so up and down? Many thanks.
2 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 05 July 2011 : 14:06:54 You can discuss with the OR what would be a suitable average to take as in this situation your income has declined as well as simply being variable
Blackie
Posted - 05 July 2011 : 10:30:12 Hi Daniel.1z
I think that you must declare an average income based on the last two or three years earnings. If an IPA is agreed, it has to be based on what you can currently afford. Presumably as a builder you can try and work more hours in order to earn more. However if you do this, you risk losing it to the OR. Remember an IPA can only be set up if you have disposable income.
All the best
John Blackadder Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk.
