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IPA and going onto Maternity leave
Goldrill
Posts: 12 Forumite
Hello!
Just after a bit of advice please...
I went BR in March and have an IPA as am in full time work. I will be going off onto maternity leave in October and my employer does not offer any benefits so it will be SMP - so from early December at latest it will be the standard £125ish/week. I will be back at work after four to six months, but likely to be on half time for several months - so would actually have even less money available at that point after nursery fees taken off etc.
I'm not sure what will happen with my IPA. In theory, I won't have enough money to pay anything for about a year, but on the other hand I would rather pay £20 a month than have it suspended to restart when I resume work full time - better to get it over with! I can't imagine they would just cancel the whole thing outright, especially as I now have an IP as Trustee?
Has anyone had experience of this, and what happened, please?
Many thanks
Goldrill
Just after a bit of advice please...
I went BR in March and have an IPA as am in full time work. I will be going off onto maternity leave in October and my employer does not offer any benefits so it will be SMP - so from early December at latest it will be the standard £125ish/week. I will be back at work after four to six months, but likely to be on half time for several months - so would actually have even less money available at that point after nursery fees taken off etc.
I'm not sure what will happen with my IPA. In theory, I won't have enough money to pay anything for about a year, but on the other hand I would rather pay £20 a month than have it suspended to restart when I resume work full time - better to get it over with! I can't imagine they would just cancel the whole thing outright, especially as I now have an IP as Trustee?
Has anyone had experience of this, and what happened, please?
Many thanks
Goldrill
0
Comments
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As each change haPpens you notify the OR and do a new SoA. If there is not enough surplus for am IPA then it is suspended, the suspended months count towards the 36 months. If you have a small surplus then that is what it will be reduced to. You need to let the OR know of any changes for the full 36 months.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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ah - the suspended months count towards the IPA too - that's what I needed to know. Thankyou!0
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If you have a trustee though make sure you get any decisins in writing, you dont want them at the end to decide they were "missed" payments rather than months where the required payment was Zero due to changed circumstancesHi, 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
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