IPO advice

Araboo27

Hi everyone, I went bankrupt in May 2019, now on the home stretch. I wasn’t given an IPO (is that the right acronym?!) due to being on UC and having a small income from being self employed, we’re taking approx £200 p/m. I’m now looking for a change and would like to get a regular job again. If for example I returned to employment after my first year is up, would I then get an IPO? The job I’m looking at is FT @ £11 odd ph so c. £23k pa. Obviously this is a huge jump and would mean my income would increase by roughly £950pm (taking into account change in benefits). I’ve grown to hate being self employed and desperately want to change jobs but it seems crazy to do so if the money would be taken straight off me as an IPO ☹️

luvchocolate

Hi you will be discharged in May this year. If no IPA has been arranged by this time then you are home and dry. So it would make sense not to increase your income until your discharge. 

stepha4

Wait till after your discharge. If you have to set up an IPA before then it can run for 3 years. I would definitely wait the 3 or 4 months till you’re discharged before changing.

luvchocolate

stepha4 said:

Wait till after your discharge. If you have to set up an IPA before then it can run for 3 years. I would definitely wait the 3 or 4 months till you’re discharged before changing.

Thats exactly what I said.....

RattyIrk

I'm counting the days.  Been working part time during my year.  
Wait it out as per the others advise.