We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Ipa question

KEVKEV
KEVKEV Posts: 1 Newbie
in Bankruptcy & living with it
Hello everyone. After much thinking and soul searching I’ve filed for bankruptcy today. I have an IPA question, hoping someone can help?
After I’d done my income and expenditure, the figures showed I have about 700 quid left over every month, and the online form advised I’d have to pay an IPA for next 3 years. Which is fine. But how much of my left over money will they likely ask me to pay? All of it?! Or will they leave me a little?

Thanks in advance for any advice. X

Comments

  • luvchocolate
    luvchocolate Posts: 3,478 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Home Insurance Hacker!
    Hi they will take 100% of any surplus which is why its so important to get your S.O.A right.
    If you post it on here we will look at it and see if you have covered everything.
    Have you taken advice from one of the debt free charities?
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You really should post your SOA - to have a £700 p.m surplus would suggest you are either a very high earner or you have not taken advice on your SOA.
    You can find a good calculator here and then use the format poster at the bottom to post on here.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.7K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.8K Work, Benefits & Business
  • 603.3K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture