Why do I have to pay IP payments for 3 years?

Pinkteapot_2

Yeah, AiB will want all of the surplus, most of the time, but if you can make a payment, they are more likely to let you have decent allowances. If you are skint, they will squeeze. Only those totally on benefits are exempt.

As it only cost me £100 to go bankrupt, and as it must cost a lot more than in admin costs, I think that's why there's so keen to get the cash out of us.

I've whinged about this in other posts, so I'll shut up now.

I know this sucks,

Kaelin

Thanks everyone for your replies.

Coolcait - the IP stretched my TD out to 4 years to make the creditors get 10.8p in the £1. So they would only get around 3k split between them. Would please me no end if Lloyds got about 1p of that Not sure what they will get now. Hopefully 0.01p

Pinkteapot - fully agree with you. Even finding the £100 is a joke given that if you had a spare £100 you would be paying creditors anyway

Will see what the money advisor says next week. Fingers crossed