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The Bankruptcy Service - Case Study Example

The following bankruptcy case study is a fictitious example, designed to help you understand working situations where bankruptcy is and isn't appropriate.


We take a quick look at what the bankruptcy official receiver or bankruptcy trustee will expect you to live on each month.


How much is reasonable for essential outgoings?


A hard question to answer as every case is unique. The calculations for this are vital in a bankruptcy case, as if you cannot show zero surplus income after your expenses you will be placed in an IPA – an Income Payments Agreement. Expenses are decided according to the number of children in the household, the situation for any partner, and many other factors such as essential costs on a monthly basis. Feel free to contact us to discuss in further detail.



Free debt counselling and advice is also available from the Money Advice Service available at: www.moneyadviceservice.org.uk

TheBankruptcyService.co.uk doesn't charge a fee for its bankruptcy service, but receives remuneration from the partners that we work with in order to keep TheBankruptcyService.co.uk operating. Those partners must charge a fee to the customer to likewise cover operational costs, and this amount will vary depending on the solution offered, and the terms of the parner. For details of these terms, please refer to the website of the organisation dealing with your bankruptcy. Upon application with TheBankruptcyService.co.uk, we will forward your information on to one of our specialist debt partners. You will then be contacted, and you will be able to explain your case, and expert advice will be offered in order to ascertain the most appropriate debt solution.