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Does IPA continue for full 3 years?
nervousbankrupt
Posts: 38 Forumite
Hi,
Say if you went BR owing £15k, and you're given an IPA. If say after 2 years you have paid £15k in IPA payments, does it then stop?
Say if you went BR owing £15k, and you're given an IPA. If say after 2 years you have paid £15k in IPA payments, does it then stop?
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Comments
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Hello NB, I think it unlikely you would pay that much IPA to be honest or you would of been set a DRO!. Yes once an IPA has been implemented you pay for three years x"If wishes were horses, then beggars would ride"
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hi, once you had repaid the the IPA would stop.
BUT
remember that as well as the debt there is alot of cots that have to be paid as well so it is unlikley that you would pay enough into an IPA in less than 3 ydears to pay for everythingHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0
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