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.
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
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My pay varies considerably from year to year
Posted - 05 July 2011 : 06:48:50
