Disposable income is the money you have left over after all your essential monthly outgoings are paid for but before you have paid any of your unsecured creditors.
If you have no unsecured creditors to pay, your disposable income could be used for any of the non essential things you might want to buy. Alternatively, it could be saved for a rainy day.
FROM BEAT MY DEBT NEWS...
06 September 2010 -
Benefit claimants owe huge debts
HOW WE HELP...
"Before coming across this site, I struggled to find straight forward advice to help resolve my business problems. I have now implemented a CVA and am on my way to turning the company around." Ms Sharron M
Calculating disposable income
Once you have understood your income and esential outgoings, calculating your disposable income is easy.
Simply subtract the total of your essential monthly outgoings from your total monthly income. For example, if your total essential outgoings in a month are £1300 and your total monthly income is £1600, your disposable income is £300 per month (£1600 - £1300 = £300)
Your next step is to understand your unsecured debts
