Question re IPA

nicky_s_2

I don't know if I will get an IPA. By my figures I won't, but, what I want to know is, if any unexpected expense comes up (my car has just failed its MOT), could I do overtime to pay the bill without it being taken off me if I ask the OR. I don't even know if I will get to keep the car as my interview is 5th Jan, but if I don't, I won't be able to work as I work nightshifts and live in a village 10 miles from work!

JCS1

If occasional overtime, OR won't be interested. if it becomes more regular, they will.

clanbailey

hiya sorry to butt in on your thread nickys but regarding the IPA does everyone have to pay an IPA? I am really unsure how this works could anyone shed some light on it for me please - 9th jan my date and want to know as much as poss before then

thanks

2Loose

If your surplus cash after essential expenses is more than a £100 then an IPA is quite normal as I understand it. If it is more than a £100 then the IPA will be 50 percent of it, if it is over £250 then they will take 60%, over £350 is 66% and so on.
I hope I got that right, I am waiting for them to set one up for me at the moment.

startagain_2

clanbailey wrote: »

hiya sorry to butt in on your thread nickys but regarding the IPA does everyone have to pay an IPA? I am really unsure how this works could anyone shed some light on it for me please - 9th jan my date and want to know as much as poss before then

thanks

clanbailey - log onto www.insolvency.gov.uk abd look at their info sheets entitled - Income Payments Agreements and Income Payments Orders under the Guide to Bankruptcy heading. It explains it all. It is how I got to grips with it. It is also in fermi's sticky at the top of the board.



SA