Advice on an IPA please!
in Bankruptcy & living with it
9 replies 262 views
I like many have had the floor swept from under them this year! I declared myself bankrupt July this year. I worked in travel and was let go with the rest of my team. Prior to this I had no black marks on my credit file and was pretty chuffed with my score. I have a job Interview salary 21k so £1493 per month partners salary £3300 per month, SOA £2993 per month plus £800 partners debt. Please could anybody advise the likelihood of an IPA and rough amount. Thank you in advance!
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An IPA must be signed before the 12 months after you are declared BR
I find that one hard to follow
I went BR in 2018, so not recent but have you looked into your all your options? How.much debt do you have? Are you jumping into bankruptcy because you are worried about the future?.
I know everyone's circumstances are different but for comparison, our total household income back then was approx £2200 and we were a family of 4, and I only just missed an IPA. You wont be allowed £500 for groceries that's massive for 2, some of it looks a bit far fetched but if you can evidence these amounts when challenged you could be okay. I think, they take into account your partner income and then if they have anything left they can then apply that to their debts, their debts are not a priority if that makes sense.
If you are out of work, have you applied for JSA to keep you going until you can get another job? Most creditors are giving payment holidays for 3 months if you get to them before the end of october.
These are normally the disability costs if someone has disability benefits. Do you?
However, if you have £20 or more disposable income, you may get an IPA.
More than a third of IVA`s fail....fact.
Could A Debt Relief Order help you ?
Never pay a fee for a Debt Management Plan.
For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
We can only help if we have all the information.
The OR has until July next year to get an I P A in place
I wont post any more advice, good luck to you.