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Is it possible to pay of an IPA
greytdog_2
Posts: 288 Forumite
the title says it all really, i am one year into my ipa and was wondering if a relative can pay off the IPA as they have a lot of disposable income (father in law). If it is possible how do you go about it? My ipa is currently £250 a month but i am about to re assess it and it is likely to go down.
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Will defer to a more experienced forum member for the possibilities of a family member paying it off for you.
I know it's possible for you to do so if you come into a lump sum.
Regardless, if it's likely to go down on reassessment then let that happen first as the pay off calculation may be based on the lower monthly amount.:)When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
well it is possible, but totaly at the discretion of the OR, you have no right to do soHi, 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 -
is it just the outstanding payments or that plus something0
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there is no answer to that as it is not a set process, as said it is at the discretion of the OR so it is whatever they decideHi, 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 -
There is a thread somewhere where someone did?
If as DI says it all up to discretion in that case, it may not be of a great help though.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
the title says it all really, i am one year into my ipa and was wondering if a relative can pay off the IPA as they have a lot of disposable income (father in law). If it is possible how do you go about it? My ipa is currently £250 a month but i am about to re assess it and it is likely to go down.
Can I ask the purpose of paying off the IPA? Do you mean pay off the outstanding debts in bankruptcy? What are you hoping to achieve?
Sorry, not trying to be nosy, just want a little more info before I give an answer.0 -
In most cases it tends to be a desire to be free of the 36 months and having to inform the OR of any changes in income/expenditure.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Ineedaname wrote: »In most cases it tends to be a desire to be free of the 36 months and having to inform the OR of any changes in income/expenditure.
Yes well, before I go blurting out unrelated rubbish, as you and the group of other bullies on here keep accusing me of, I thought I would ask a question or three first.
You now talking for the poster? WOW even I would never assume I knew the answers before I heard them. Is that not "waffle" until the poster provides the additional info, or is that only when I give extra information.0 -
I said "in most cases" which helps unless the OP is, like you, a rarity.
I actually don't see what difference knowing why they might want to do it makes to answering the OP's question of 'whether' it is possible to pay off an IPA.
The answer to the question asked has been given already.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Ineedaname wrote: »I said "in most cases" which helps unless the OP is, like you, a rarity.
I actually don't see what difference knowing why they might want to do it makes to answering the OP's question of 'whether' it is possible to pay off an IPA.
The answer to the question asked has been given already.
Well you cannot have it both ways. You ATTEMPT to bully and intimidate me when I provide unrequested information. So give me the respect I deserve when I ask for further info before I comment. You will just have to wait and see for my answer.
You have an unhealthy habbit of following me around, and yapping at my heels, I should be honoured really.0
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