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T O P I C    R E V I E W
rooster Posted - 01 January 2012 : 07:56:12
I am at home with a young child and our only regular secure income is my tax credits and child benefit.

his business income does not cover his debts, and this has recently resulted in bankruptcy. How would this affect my tax credits.
There is a young child, and as there is no other income, I am thinking there would be an increase. Or would there be a
decrease in this.

Individual circumstances are very different, but is there anyone
with similar circumstances.

2   L A T E S T    R E P L I E S    (Newest First)
Viki.W Posted - 01 January 2012 : 10:08:05
Hi rooster,

A change in income or working circumstances in the household may affect tax credits but bankruptcy itself won't.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
Niobe Posted - 01 January 2012 : 08:03:44
I believe, and I do stand to be corrected here, that if only he is bankrupt then your tax credits etc wouldn't be affected. Not sure if there would be a difference in what you are paid.

You'd need to speak to HMRC about that.

Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe



Jan
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