Early Discharge yesterday and IPA

jakjo

Hi All,

I had an early discharge yesterday! Little confused though with no forms to fill in and my current IPA being on hold (due to work contract coming to an end)... shouldn't I have had something to fill in? Of course I'll pick up the IPA when my work situation changes. Is it case of just contacting the OR when it does?

Thanks

skylight

What did your IPA letter state when it was put on hold??? Exact words because thats important.


And congrats on the ED!!!

jakjo

There it is: We have been informed by your OR that due to your change in
circumstances your IPA has been varied to nil. Therefore we require no further payments.
However if your circumstances happen to change pls contact us immediately.

Thanks Skylight

jakjo

I was on an IPA of 576 a month. So of course I am expecting to pick it up again

nervousmother

Congratulations on the ED :-)

(seem to be saying that alot lately!!)

skylight

Mmm. They have contradicted themselves there. "Varied to nil" suggests that the IPA has been suspended, but stating they "require no further payments" and not "no further payments for the time being" sort of thing, suggests they have closed it. Maybe someone else has a POV on this one??


Anyway, once you are up and running again, contact the IPA company and not the OR unless the IPA co try to get you to pay more than you think you should be. The 36 months started from your first IPA payment, so if you paid 6 months and are now 4 months into a non-payment period due to unemployment you are actually in month 10 of the 36 months.

jakjo

OK, many thanks for your help on this

jakjo

Just got another letter saying there are insufficient assetts to pay back creditors and the administration of the estate has now been completed and there is no likely of any further realisations. Consequently there can be no payment made to any class of creditor. the estate and a back page with figures on. Does this include Moonbeever?

jakjo

An what does Balance on estate mean?

debtinfo

You start on a balance of -£1715 as these are the basic costs of administering the Br. The Deposit you pay goes towads this as do any realisations during the BR. The OR will only payout if there is a surplus of more than about £600. So a bit ow quick maths says that they have to realise about £1950 (after moonbeever take their cut) to make a distribution to creditors.

On the Other point if the OR cancels the IPA then they cannot restart it. That is why they vary it to £0pm so they can reinstate some or all of it later if you get a new job

jakjo

Thanks fro the reply Debtinfo.
If the letter states then that there can be no further payment to any class of creditor - does that mean my IPA is wiped?