moonbeaver/IPA!

hisandhers1978

our AD will be march 2012 - Has anyone who has or has had an IPA tell me what happens before and after discharge and exactly what Moonbeaver send you and expect etc etc?

The only contact we have had since the OR interview is the IPA agreement which we signed and sent back and a letter saying we have been moved to a differnt trustee(pretty standard)

also I fully understand that up until the last IPA payment has been made that you have to inform them of change of circumstances/pay rises etc, but so far the only letter we have had says "Up until discharge" we must inform them, not any time during the 36mth ipa.

therefore up to now unless we recieve such letter all we have ever been informed is we have to inform them of changes "up until discarge".

andyf1980

I'm not sure what you get from Moonbeaver as I didn't have an IPA. Strange about the letter but as you say you do have to advise them of any changes even after your discharge.

kepar

I think you will find that it is an error, in that it was that way but now you have to report until the end of the IPA.

Don't forget it can work both ways, your IPA could have to be increased or decreased.

battyboimatt

Hmm actually I have just looked at my paperwork i went BR in Mayand the copy I recived from the Offical reciver both for my IPA agreement and Bankrupty paper says

Until I am discharged from bankrupty I shall notify the Offical Reciver or other trsutte of any increase in my income within 21 days and it also says I understand that when this agreement is sgind by the Offical Receiver it will become a legally binding document and that if may only be varied by writeen agreement with the Offical Reciver or by order of the court.

So which is it, unstil Discharged or until the end of the 3 years ?

hisandhers1978

thanks for the reply. yeh i know about the informing them up until the end of the IPA but officially up to now i have not been made aware of this by them in any way so how would i know!!!;)

IF

battyboimatt wrote: »

Hmm actually I have just looked at my paperwork i went BR in Mayand the copy I recived from the Offical reciver both for my IPA agreement and Bankrupty paper says

Until I am discharged from bankrupty I shall notify the Offical Reciver or other trsutte of any increase in my income within 21 days and it also says I understand that when this agreement is sgind by the Offical Receiver it will become a legally binding document and that if may only be varied by writeen agreement with the Offical Reciver or by order of the court.

So which is it, unstil Discharged or until the end of the 3 years ?

OK when you go BR and don't have an IPA you signed two copies of the form NTB2 the purpose of which is to ensure that you are aware of a number of duties and responsibilities required. You are agreeing to inform the OR within 21 days of any change in income/expenditure. The form also points out the bankruptcy restrictions which must be observed until discharge. Once discharged you don't have to inform the OR any more.


If discharged and have a IPA you have signed the agreement and are agreeing to inform the OR within 21 days of any change in income/expenditure. Which is a legally binding document for 3 years.

Hope that helps

If..x

hisandhers1978

what i mean is ,obviously i know the rules are to inform them of any changes up to the end of the 36 month IPA but if my letter and the agreement i signed says "up until discharge" then how do i know any different?!

So lets just i did get a pay rise after discharge and never mentioned it then how am i possibly doing anything wrong as i have never been officially told i must inform them?

hisandhers1978

ifwisheswerehorses... wrote: »

OK when you go BR and don't have an IPA you signed two copies of the form NTB2 the purpose of which is to ensure that you are aware of a number of duties and responsibilities required. You are agreeing to inform the OR within 21 days of any change in income/expenditure. The form also points out the bankruptcy restrictions which must be observed until discharge. Once discharged you don't have to inform the OR any more.


If discharged and have a IPA you have signed the agreement and are agreeing to inform the OR within 21 days of any change in income/expenditure. Which is a legally binding document for 3 years.

Hope that helps




If..x

No this is my point, i signed an IPA agreement that clearly says "until discharged" i will inform the OR of any change of circumstances.

fermi

The wording you have is from an older agreement template that I don't think offices should be using any more.

I don't think anyone could be blamed for taking that wording at face value. I certainly haven't heard myself of anyone getting in 'bother' for doing so.

If I remember correctly there is nothing in the legislation that says you have an ongoing duty under an IPA to inform them of increases in income. Unprompted, anyway.

Obviously if you are specifically asked to provide an updated I&E, then your ongoing duty to cooperate with the OR applies and you must do so while the IPA is in force. They can then vary the IPA on the basis of that.

IF

Thanks Fermi, God its confusing eh!! :think:

Ineedaname

Handy for some if they get a pay rise though.;)