Q24. What happens to my wages/benefits? (If bankrupt after 1 April 2008)
You must give details of all your income form whatever source to your trustee. You may be asked to sign an Income Payment Agreement (IPA) to pay a contribution towards your bankruptcy. Your trustee can also apply to the court for an Income Payment Order (IPO), if you either refuse to sign an IPA if asked or you fail to comply with the terms of an IPA. An IPA and IPO can last for up to three years from the date that they are agreed or imposed and therefore you can be paying contributions after you have been discharged from your bankruptcy.
back | next