I am self employed at thw mo, its not paying anything. I s ti true that I will have to pay 70% of my earnings for the next 3 years. I have no money currently but after 12 month I would like to think I earn more than I do currently with no one I owe money to
The Official Reveiver will go through your income and allowable expenditure - the difference between what you have coming into the household minus your allowanble expenditure is called your 'disposable income' - this figure is what is collected for the 36 month period and called an Income Payments Order or Agreement (IPO/IPA) Hope this helps, Melanie
Melanie Nicholas CertDR 30 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side.
Will I have to pay 70%% of my earnings ?
Posted - 21 September 2011 : 00:34:23
