•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating


•Bankruptcy News

Media Room:
•Press releases
•Media Coverage

•About BankruptcyHelp
•Contact us
•Debt Glossary
•Insolvency jobs

  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post

 All Forums
 Forum Questions
 What happens in bankruptcy to the extra income if I start working ?

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Format Mode:
Format: BoldItalicizedUnderlineStrikethrough Align LeftCenteredAlign Right Horizontal Rule Insert HyperlinkInsert EmailInsert Image Insert CodeInsert QuoteInsert List

* Forum Code is ON
Smile [:)] Big Smile [:D] Cool [8D] Blush [:I]
Tongue [:P] Evil [):] Wink [;)] Clown [:o)]
Black Eye [B)] Eight Ball [8] Frown [:(] Shy [8)]
Shocked [:0] Angry [:(!] Dead [xx(] Sleepy [|)]
Kisses [:X] Approve [^] Disapprove [V] Question [?]

Check here to subscribe to this topic.

T O P I C    R E V I E W
Alan.01 Posted - 11 November 2016 : 19:05:49
I have been bankrupt since july 16 and since been on universal credit, Now I have started working. How much can I earn before the official receiver will take money off me ? Is there a figure ? I did an income/outcome sheet for them recently where I had about £20 left each month, but what happens when I earn more ? Can they take all the extra income or a % or what ?
2   L A T E S T    R E P L I E S    (Newest First)
Lisa Thomas Posted - 15 November 2016 : 11:31:41
They can ask you to make voluntary payments into your BKY estate for up to 3 years and if you refuse/dispute it they can go to Court to obtain an order for the sums due and it can be taken direct from your wages (in extreme cases).

In my opinion £20 is not worth the administration costs of putting an IPA in place.

Contact me on 01752 786800 or Lisa@nevilleco.co.uk
Niobe Posted - 11 November 2016 : 19:21:57
Hi and welcome,

Anything over £20 disposable income and you will have to have an IPA. You need to speak to your OR to sort out what you will need to pay across after your normal expenses.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant

bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06