Author Topic: What happens to my income after BR?  (Read 2619 times)

JackH

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What happens to my income after BR?
« on: Jun 17, 2008, 04:09:28 PM »
Hi I hope someone can help me!

I have just started a new self-employed business venture.  I have huge unsecured debts of 80k and I would like to be optomistic about my new venture & would like to think I could pay the debts back, however the venture has been slow starting so I have reached the point where I think BR would be the best option.  I am totally unclear about what happens to earnings after Bankrupcy.  If my new venture is a sucess do I pay all earnings to the OR except for basic living expenses?  Will the OR want to know the in's and out's of my new business?  Can a bankrupt be self-employed? (My Self-employed venture has no assets).

Jack