How much money will i be allowed to live on if i make myself bankrupt?
I am a singleparent,have 2 dependant children and receive incapacity benefit
You are allowed all your benefits and income to live on for the allowable expenditures in bankruptcy.
You would only pay into a bankruptcy if you have a surplus of income that exceeds £100 a month after your expenses. Then only a percentage, beginning at 50%, of that surplus is used to pay into a bankruptcy.
If all you have are benefits, you will not be paying into a bankruptcy.
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