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!

Variable Income

freddy911
freddy911 Posts: 555 Forumite
in Bankruptcy & living with it
What happens if you have an IPA and your income is variable? do you have to fill in a new SOA every month or do you just send them your pay slips and they base it on the expenditure already agreed?

Thanks

Comments

  • debtinfo
    debtinfo Posts: 7,012 Forumite
    Normally, the OR will take an average over a previous suitable period of time and use that as the income to base the IPA on, and then you would notify them if what you went on to receive was significantly different than expected
    Hi, 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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.7K Banking & Borrowing
  • 253.8K Reduce Debt & Boost Income
  • 454.6K Spending & Discounts
  • 245.8K Work, Benefits & Business
  • 601.8K Mortgages, Homes & Bills
  • 177.7K Life & Family
  • 259.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture