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By the way, your timing for bankruptcy in Scotland is perfect, as new legislation will be enacted early next year which will bring the Scottish experience closer to the Irish experience. The preferred UK destination for bankruptcy will now be England & Wales.
Best of luck.
Jim Stafford
Thanks, in Scotland you get anb "Attachment" order if you earn enough, am I correct in thinking that I should therefore earn minimum wage for aWilde
It depends on the jurisdiction in which you're petitioning for bankruptcy. The UK has a one year discharge period whereas Ireland has a 3 year discharge period.
That is the case wherever you live. You have a chance to arrange it in advance which is what we do for our UK clients. Forewarned is forearmed.Yes. An 'attachment order' - soon to be known as a debtor contribution order - can be imposed if your income exceeds your outgoings by a sum greater than your outgoings. It's imperative to 'ensure' that your income and outgoings 'match'. Therefore some type of temporary / seasonal, minimum wage work is preferable.
That is the case wherever you live. You have a chance to arrange it in advance which is what we do for our UK clients. Forewarned is forearmed.
Never pay more than you need to.
Steve
So an Attachment Order or Debtor Contribution Order stays in place for how long, if they see they are not going to get anything?
Ah get you, the order is placed IF you earn over minimum wage during the year that you are bankrupt, after you get discharged they CANT place an order. Got it, part time for me :0)But the order wouldn't be put in place if you weren't able to pay it.
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