Quick IPA query

Abitdown

Hi folks, happy new year to you all.

I've read a couple of conflicting comments regarding IPAs. I know they tend to last for 36 months, but is this from date of bankruptcy or date the IPA was approved. If, say, I got an IPA on the final month of my BR, would it last for a full 36 months or 24 months?

Thanks

fermi

Runs for up to 3 years from that date it is signed.

http://www.legislation.gov.uk/ukpga/1986/45/section/310A

(5)An income payments agreement must specify the period during which it is to have effect; and that period—

(a) may end after the discharge of the bankrupt, but

(b) may not end after the period of three years beginning with the date on which the agreement is made.

In other words, the legal restriction on the end date is just that it can't run for longer than 3 years after it was signed.

It can be signed at any point between your BR and discharge.

Abitdown

Thanks for the clarification Fermi.