I’m bankrupt and waiting for my trustee to get in touch as no doubt they will want to try and get a monthly payment out of me (even though it was my ex that ran up all these debts in my name!) Anyway, I don’t see why I should be left with absolute peanuts, as they are saying they will take any surplus income in an IPA. What am I allowed to put down for monthly allowances?
Knowledge of the various expense allowances in bankruptcy could easily prevent you from receiving an Income Payments Agreement or IPA. Or at the very least, prevent you from having to pay over the odds for the next three years. This is something we specialise in and is the very reason why people entering bankruptcy should seek professional assistance. If you were to receive an IPA of £100pm this would equate to £3600 over three years and it is worth paying professional fees to avoid this happening.
Bankruptcy UK offers a full bankruptcy administration service, including dealing with creditors, completing the all important Income and Expenditure, professional completion of the relevant paperwork, etc. Call us on 0800 5977 977 or 01425 600129 for a chat about your circumstances.