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Income payment orders (IPO)
JaneDoeJohnDoe
Posts: 343 Forumite
Can I just check with folk that any IPO would only actually be applied to my bankruptcy BEFORE I'm discharged? :think:
So for example, currently there is no IPO in place as I don't have £20+> "spare cash". But if the day after my discharge I suddenly got a high paid job :eek: :laugh: & had "spare cash" I would not have to inform the OR & I would NOT have to pay into a IPO for up to 3 yrs.
Is that right? :dance:
So for example, currently there is no IPO in place as I don't have £20+> "spare cash". But if the day after my discharge I suddenly got a high paid job :eek: :laugh: & had "spare cash" I would not have to inform the OR & I would NOT have to pay into a IPO for up to 3 yrs.
Is that right? :dance:
0
Comments
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Yes that right...after you are discharged your money is your own!!
An IPA must be in place prior to AD or at least in the pipeline0 -
Yes pretty much.
IPA - Legally must be be signed before you are discharged. Once discharged one cannot be obtained.
IPO - Any initial application for one of those must be submitted to the court before you are discharged for them to be able to get one. Once discharged they cannot apply.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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