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Bankruptcy - change in law

(2 Posts)
nikkib1967 Tue 14-Dec-10 12:53:31

I am currently going bankrupt and was about to call the courts for a date when I heard that from 1st December there have been changes to bankruptcy and income payment arangements/orders. From 1st December the offical Receiver will treat surplus income as follows:
There is an allowance (after essential bills etc) of £20 per household plus £10 per person within the household.The Official Reciever will take all remaining surplus income for a period of three years.
Do I wait until the VAT increase in January 2011 before contacting the courts? I have just been notified that my job will finish 31/03/2011 as there is no further funding available and my partner will be leaving in the New Year.
My salary is currnetly £28,000.I have one 12 year old son. Can anyone advise me if I am better off signing on post March given my situation or better off looking for a lower paid job? Any advice would be much appreciated thank you.

freshmint Tue 14-Dec-10 14:45:56

you would be much better off making an appointment at the CAB to discuss benefit entitlement, bankruptcy etc than trying to piece together some advice from here. That's the most useful place you could go at the moment.

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