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T O P I C R E V I E W
mdebbie1009
Posted - 26 June 2009 : 11:37:05 if i carry on working after declaring myself bancrupt will i have to pay my debts even though i wont have much money left over at the end of the month?
2 L A T E S T R E P L I E S (Newest First)
Skippy
Posted - 26 June 2009 : 16:33:03 I had a small amount of money left after paying my debts and I was still able to go BR as although I had some money it wasn't enough to cover my living expenses.
All unsecured debts will be included in your BR. Once you are BR, if you have more than £100 left over each month you will be expected to pay a percentage into an Income Payment Agreement.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
23 IPA payments made, 13 to go - on the home straight!
gettingoutofdebt
Posted - 26 June 2009 : 12:34:08 No, the debts will be included in the BR. You mention:
"will i have to pay my debts even though i wont have much money left over at the end of the month?"
You can only declare BR if your outgoings are more than your incomings. If you have a small amount of money left over at the end of the month after paying your debts then you cannot declare BR.
