Ipa calculation

Moleskin

I have just gone bankrupt and have just received an email from the o.r challenging a few of my outgoings. My wife and myself both work and both of our incomes contribute to our outgoings, once the figures have all been sorted out, will I have to pay 100% of the disposable income or is there a percentage taken because my wife contributes to our income? (Ps only I have gone br)

sniggings

yeah you pay all your excess, remember tho an IPA is an agreement so if you think your amounts are reasonable argue your case, maybe do a thread on here with what amounts you are not agreeing on.

debt_doctor

You need to be left with enough money for the reasonable domestic needs of yourself and your family.
The IS policy on IPAs does not neccessarily reflect the law, and is challengeable.
As already sugested, pop your incme / expenses on here for us to have a look at.

DD

SteveABC

I was asked to pay over £400 per month in an IPA, which I felt was unreasonable and I wouldn't agree to.

I wrote a letter to the OR, detailing why I thought I could not afford it, enclosing receipts as confirmation of my outgoings etc.

The OR then reduced it to just over £200, which was more affordable.

Now over half way through it (yippee!).

It is a worry, but as previously said, it's an agreement and you have to be left enough to reasonably live on.

The way I looked at it was that it was for 36 months, whereas the debt would have been forever! :eek: