ipo order...how much will they take?

dudleybell

hello

well after a really bad year,had no choice but to go bk on the 2oct this year,had my telephone intview on the 21 of oct,now just waiting to here from the or.
i think i going to have to have a ipo order,which is fine...dont like the idea of getting of scott free out of this,my question is i have about 480 pounds left after all of my living expenses have been taken out,will all of that money go to ipo,or wil they only take a certain amount...any help would be very helpful,or has anyone already got a ipo up and runing..how much are you paying in to it

many thanks
dudleybell

debtinfo

normally if you have £480pm surplus they will take 70%

fiveyearplan

Did you post your SOA for guidance?

dojoman

Here are the gudeline figures,


[FONT=Verdana, sans-serif]Between £100 and £249 = 50%[/FONT][FONT=Verdana, sans-serif]
[/FONT][FONT=Verdana, sans-serif]Between £250 and £349 = 60%[/FONT][FONT=Verdana, sans-serif]
[/FONT][FONT=Verdana, sans-serif]Between £350 and £499 = 66%[/FONT][FONT=Verdana, sans-serif]
[/FONT][FONT=Verdana, sans-serif]£500 or more = 70%[/FONT]

nervousmother

The main point here though is your a new poster, i worry that you have not been given the correct information on what you can claim on your SOA. the OR has to make sure you have a reasonable standard of living..

if your soa is correct then you will have to pay 66% of that figure over, although if there are any changes you can have the IPA recalculated.

miss_spooky

Hi,

Welcome to the boards. If you don't mind, pop up your SOA so that we can have a look, most of us know what allowances the OR will let you have and can give you pointers in stuff you may have missed out.

This calculator is great as it covers nearly everything.

Do your finances as they stand now then post back here.

http://www.makesenseofcards.com/soacalc.html