IPO/IPA Threshold

Romanov

Hello all,

Has anyone got the guide for how much an IPA will take from the surplus cash amount? I think there is a percentage guide?

I will be left with around £289 at the very most.

Thanks!

thatsyourlot

I have just had my or interview today & they have me down as having £219 excess left. I have been given an ipa for £110 per month, which I will have to pay for the next 36 months.

I can tell you, that its way way better than the £1590 just in min payments I was struggling to pay each month.

Romanov

Thanks for the reply.

the-muffin-man

Currently the guidance given to official receivers about how much money they should take under an IPA/IPO is that if a bankrupt has more than £100 per month disposable income he/she will be expected to pay a percentage of that under an income payments agreement for three years. If he/she has less than £100 per month disposable income he/she will not be expected to pay anything under an income payments agreement. The percentages work on a sliding scale, according to the amount of disposable income, as follows:
£100 to £240 - 50%
£250 to £340 - 60%
£350 to £490 - 66%
£500 to £600 - 70%

Info from here...
http://www.insolvency.gov.uk/freedomofinformation/technical/incomepaymentordersagreements.htm