Minimum level of income for IPA/IPO?

SomebodyToldMe

Dear all,

Anyone know what is the minimum level of income the OR will look at before slapping an IPA/IPO on someone BR?

Currently IPO free due to being unemployed- but want a job.
However, don't want a job paying high enough to be shackled with an IPO for 3 years.....want to do my 1 year 'sentence' and start again, as fed up some paying others with my salary

lilybankrupt

There is no minimum income, it's all done on an individual basis.

Reasonable expenses are allowed from income, then anything else goes into the IPA.

What is reasonable for one person will be different to the next - size of family, whether a car is needed, whether anyone else is sharing the household bills etc. Also whilst there are 'guideline' amounts for various expenses they are not set in stone - so someone with a medical need for a special diet might be allowed more for food per month than someone else.

Best thing would be to work out what you think would be reasonable expenses (from a being in work perspective), share it here and see what people think. Then that gives you an idea of salary to cover your expenses.

National_Debtline

Hello there,

If you have a disposable income of more than £20 per month it is likely that you'll be asked to enter into an Income Payment Agreement. You can read more on IPAs here.

Very best wishes,

David @ National Debtline.

SomebodyToldMe

Many thanks for the replies.....it's head above water on benefits, so I'll keep going for a few months more til BR ends
Cheers
STM

keen_kat

I actually believe they look at surplus income above £50 now.

michael1983l

keen_kat wrote: »

I actually believe they look at surplus income above £50 now.

That is not the case. I had my interview only 3 days ago and I was told that £20 is the threshold by the OR.

keen_kat

michael1983l wrote: »

That is not the case. I had my interview only 3 days ago and I was told that £20 is the threshold by the OR.

What OR are you with, because I was sure they upped it to 50 because anything below was costing them to much in time to try and claim from a bankrupt...

keen_kat

I am not saying each OR deals with it different, s they are all governed by the English legislation if in England, but I was sure they upped it.

michael1983l

keen_kat wrote: »

What OR are you with, because I was sure they upped it to 50 because anything below was costing them to much in time to try and claim from a bankrupt...

Manchester

JCS1

keen_kat wrote: »

What OR are you with, because I was sure they upped it to 50 because anything below was costing them to much in time to try and claim from a bankrupt...

It was changed a few years ago, it used to be £50 but is now £20

JCS1

keen_kat wrote: »

I am not saying each OR deals with it different, s they are all governed by the English legislation if in England, but I was sure they upped it.

It was the internal guidelines that was changed, the legislation doesn't give any values on this topic.