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[Catherine]

Hi

I was made BR two weeks ago. It's been the most stressful time in my life. I've had to deal with the hugh issue of the OR trying to 'go after' my boyfriend for some of the money (long story which is on another link) Incidently this hasnt happened because apparently they cant tick all the boxes.

The relief is immense however the damage has already been done.

Due to the fact the CCCS gave me a serious lack of valuable information I only now realise that the OR can take a % of my income each month for the next 3yrs. Please can anyone who is going through this let me know how they are coping or have coped because I think its going to be a nightmare.

I've heard that the more you earn the more they take (up to 80%) so for example, if I make £1000 profit next month (I'm self employed) they will take £800 of this! so basically I'm working for the OR for the next 3 yrs! Also, does anyone know if they can extend the 3yrs?

Any advice on this subject would be appreciated.

[hills]

hi
im not sure of the technical things but i am sure OR has to leave you enough each month to live on and pay rent etc.
we are in court on friday and are going to go through the same things. i know it is a stressful time but try to keep strong i am sure you will be ok

hills

[Thomas]

Catherine
I think you are worrying a little too much.....
As you are (newly) self employed you cannot say that you will earn a taxable 'profit' in a particular month as you may earn very little the following month. What about your capital expenses - the machinery, vehicle(s), office equipment etc?. This why the OR says he wants to wait a bit to see what happens regarding the business income. The object of the IPO seems to be that those with a certain amount of 'spare' money over and above their immediate needs should make an effort to repay just something towards the substantial cost of the bankruptcy, and the debts left behind. If you cannot get difinitive advice from us why dont you speak to Myvesta or your OR regarding this specific question?