Is self-employed income classed as an asset. I have just been declared bankrupt and told that my income that is solely made up of commision as I am self employed is an asset. I now have no income to support myself and pay my utilities is this correct
Hi, income will be assessed against expenditure, The OR will allow all reasonable living expenses such as rent food bills petrol etc. what is left is deemed to be your surplus. if your surplus is above £99pm then the or will take between 50% and 70% on a sliding scale for up to 3 years
Is self-employed income classed as an asset.
Posted - 27 October 2009 : 21:03:47
