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 If I declare bankruptcy will future wages go to creditors ?
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Starting Member

1 Posts

Posted - 13 February 2016 :  16:39:29  Show Profile  Visit Stewart.g's Homepage  Reply with Quote
When if declared bankruptcy. Will future wages I earn go to people I owed too?


United Kingdom
4590 Posts

Posted - 13 February 2016 :  16:44:27  Show Profile  Reply with Quote
Hi and welcome,

If you declare BR then you will have to have a meeting with the Official Receiver who will go through your income and expenditure with you.

After you have paid your priority bills (rent, utilities etc) then if you have anything over £20 left then it will all be paid across for three years.

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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forum expert

United Kingdom
2211 Posts

Posted - 13 February 2016 :  17:01:27  Show Profile  Reply with Quote
Hi Stewart,

As Niobe has said, if you can afford to, you may have to pay an income payment agreement every month for 3 years.

Have you taken advice?

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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