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Income

At the date of sequestration, income vests with the trustee, but it does not during the bankruptcy period. However, the trustee is entitled to seek a contribution from such and will be 100 per cent of the disposable income – the debtor contribution order (DCO.) In a MAP application, this must be zero.

What the income from which a contribution can be taken is listed in Appendix A of the Common Financial Tool guidance.1aib.gov.uk/publications/notes-for-guidance-common-financial-tool/appendix-a-income-sources-from-which-a-contribution-can-be-taken#publication-content See also here.

 

1     aib.gov.uk/publications/notes-for-guidance-common-financial-tool/appendix-a-income-sources-from-which-a-contribution-can-be-taken#publication-content »