hello can anyone help.... i am applying for bankrupcy nxt month and live on benefits (dla & incapacity) i have over £20k worth of unsecured debt and half own the property with hubby (thats in neg equity) and have a sec loan on the property how will the OR work out what i have to pay back the creditors please thanx for your time
The OR will go through your Income and Expenditure (I&E) with you and after you have paid any rent, utility bills, etc. if the remaining amount is more than £99 you will have to pay an IPA. This amount would then go towards paying you creditors. The IPA will last for 3 years and can go up and down depending upon any increases/decreases in your I&E.
You normally have an interview with the OR (via telephone or face-to-face) 1 or 2 weeks after you have been declared BR.
hello can anyone help....
Posted - 27 April 2009 : 08:56:33
