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Advice from anyone BR and IPA IPO
cancatsdance
Posts: 58 Forumite
Hi
Just wondering about IPA and IPO
Can anyone expand on their own IPA IPO as the example on .gov are not very clear.
Just wondering about IPA and IPO
Can anyone expand on their own IPA IPO as the example on .gov are not very clear.
0
Comments
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An IPA is when any surplus income you have after your SoA has been agreed between you and the OR will be payed to the OR for 36 months. This can be altered up, down or suspended upon agreement at any time with the OR.
An IPO is when you cannot agree with the OR on how much you should pay and you go to court for a judge to agree what will be payed to the OR for 36 months. This can be altered up, down or suspended upon agreement at any time by going back to court.
Hope that helps.
Or did you mean a BRO/BRU?BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Are you concerned about what your IPA is likely to be? If you are, it would help if you could post an SoA here (see http://www.stoozing.com/calculator/soa.php).0
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Hello there,
There is some really useful info on these on the Nedcab system:
http://mymoney.nedcab.org.uk/moneyadvice/ipaipo.asp
Also, here's a link to our own Bankruptcy fact sheet:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy
Best wishes,
David @ NDLWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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