We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
IPA/IPO: what's the difference?
MTDancer
Posts: 244 Forumite
quote: "IPO payments continue for a maximum of 3 years from the date the order is made by the court
and may continue after you have been discharged from your bankruptcy. Or you may enter into a
written agreement with your trustee, called an income payments agreement (IPA), to pay a
certain amount of your income to the trustee for an agreed period, which cannot be longer than 3
years. There are no fixed guidelines on IPOs or IPAs - each case is assessed individually."
I don't understand the difference between an IPA and an IPO. Can anyone explain?
and may continue after you have been discharged from your bankruptcy. Or you may enter into a
written agreement with your trustee, called an income payments agreement (IPA), to pay a
certain amount of your income to the trustee for an agreed period, which cannot be longer than 3
years. There are no fixed guidelines on IPOs or IPAs - each case is assessed individually."
I don't understand the difference between an IPA and an IPO. Can anyone explain?
Building a new life after bankruptcy
0
Comments
-
IPA is Agreement by you and the OR/Trustee.
IPO is a court Order where you can't agree on a figure and the OR goes to court to get the judge to decide the amount.0 -
Thanks, now I get itBuilding a new life after bankruptcy0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards