Hi. I am about to make myself BR. After my house is disposed of (it is in france but I live in the UK) the debt shortfall will be almost £1M(!) - courtesy of my ex wife letting the house to squatters and the french bank setting a reserve auction price of 20% of the house's value). The CAB 'finance expert' I met with said that the OR would take 50% of my net spare income after the 'monthly allowable living expenses' etc for 3 years. For example if I had say £500 left after my allowable living expenses each month that the OR would take £480 of that? (the CAB guy said it would be likely to be £250). The CAB guy said that the OR does not want to "discourage you from bothering to work hard and earn higher incomes". Does this sound right? Will they leave me with £20 per month for 3 years? Why would I bother to work at all?
Hi. I am about to make myself BR. Why should I bother to work at all ?
Posted - 17 September 2013 : 11:33:17
