•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating


•Bankruptcy News

Media Room:
•Press releases
•Media Coverage

•About BankruptcyHelp
•Contact us
•Debt Glossary
•Insolvency jobs

  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post
Ask a debt question
See the last 250 posts
Watch video on how to use forum

Save Password
Forgot your Password?

 All Forums
 Forum Questions
 Hi there, what percentage of surplus income is the OR likely to take ?
 New Topic  Reply to Topic
 Printer Friendly
Author Previous Topic Topic Next Topic  

Starting Member

United Kingdom
1 Posts

Posted - 04 February 2016 :  22:45:35  Show Profile  Reply with Quote
Hi there, can you tell me please what percentage of surplus income the OR is likely to take after all expenditure etc has been calculated? Also, will they allow weekly tuition fees for a child at GCSE level and also travel/accomodation costs incurred if a child competes regionally and nationally in athletics competitions? (I have averaged these out into monthly payments of £20pcm). I am a single mum in receipt of benefits, in rental accomodation and we never have a yearly holiday. Would these costs be allowed as an alternative do you think?) One last thing, when I was completing the form to see if I would be exempt from the cost of going bankrupt, it stated NOT to include housing benefit as monthly income. Does this also apply when filling out the income part of the actual main bankruptcy form? I work 16 hrs p/week so I pay for half my rent and the rest is topped up by housing benefit. So does this count as income? Thank you.


United Kingdom
4590 Posts

Posted - 05 February 2016 :  08:18:39  Show Profile  Reply with Quote
Hi and welcome,

Basically, any DI over £20 once your ordinary bills are paid will go across.

I can't help you with the tuition fees - it may well be down to the individual OR.

Don't know about the housing benefit - hopefully Viki will pick up on this and give advice.

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

Go to Top of Page

forum expert

United Kingdom
2211 Posts

Posted - 06 February 2016 :  10:07:52  Show Profile  Reply with Quote
Hi Zalli,

Do you work? If you have income from a job then after all your expenditure is taken into consideration, if you come out with more than £20 surplus, then all will be paid as an income payment agreement. If you are only on benefits, then you don't get an IPA.

You will need to put down all income including housing benefit on your statement of affairs.

Put down everything you spend, if the OR doesn't allow it, you will need to find that money by budgeting differently in other areas, for example, you could put down a small amount for holidays, but then choose to use that for the tuition instead.

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
Go to Top of Page
  Previous Topic Topic Next Topic  

 New Topic  Reply to Topic
 Printer Friendly
Jump To:
bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06