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Junior Member

135 Posts

Posted - 02 April 2014 :  17:35:46  Show Profile  Reply with Quote
Where the criteria set says "less than £50 a month of surplus income after living expenses"........... Is this including payments to debts?

So household income - household outgoings (inc debt) to be less than £50 remaining?


forum expert

United Kingdom
2211 Posts

Posted - 02 April 2014 :  18:28:28  Show Profile  Reply with Quote
No, as you won't be paying any debts. Don't include them in your outgoings.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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United Kingdom
4590 Posts

Posted - 02 April 2014 :  18:28:40  Show Profile  Reply with Quote
The surplus is after your normal household expenses are taken into account. It does not include debt payments.

Bear in mind that the debt also has to be below £15k with no assets. You cannot own your own house and cannot have anything else worth more than £300, including a car.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant

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Andy Davie

192 Posts

Posted - 10 April 2014 :  09:18:50  Show Profile  Reply with Quote

Also be aware that if your disposable income risers above £50 during the 12 month DRO it will be null and void


Andy Davie

Spokesperson and Site Manger IVA.co.uk
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