Question:
I'm in the process of going bankrupt, im currently out of work. but if i had a job. what percentage does the official reciever take of my wages? and for how long.
Answer:
If you have a surplus of income that exceeds £100 a month, you can be required to pay into a bankruptcy. The percentage begins at 50% and can be as high as 70% depending on how much of a surplus you have.
An example is you have £300 surplus after allowed living expenditures: the first £100 is yours and you could be required to pay 50% of the remaining £200, or £100 for three (3) years.
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