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Allowances for IPA
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Sonic101
Posts: 151 Forumite

Hi there
I am considering bankruptcy and if I go ahead, will have to pay an IPA as there will be a surplus income.
With regards to allowed expenses, is it normal to be allowed reasonable small amounts for things like holidays and sports/entertainment (I'm talking about £20 per month), or do they only allow the very bare minimum (i.e. rent, food and toiletries/cleaning products. household bills, medical expenses). I was wondering if anyone has any experience with an IPA?
Many thanks in advance for your help.
I am considering bankruptcy and if I go ahead, will have to pay an IPA as there will be a surplus income.
With regards to allowed expenses, is it normal to be allowed reasonable small amounts for things like holidays and sports/entertainment (I'm talking about £20 per month), or do they only allow the very bare minimum (i.e. rent, food and toiletries/cleaning products. household bills, medical expenses). I was wondering if anyone has any experience with an IPA?
Many thanks in advance for your help.
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Comments
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This is a bit out of date but gives you a flavour:
https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part7/part4/part_4.htm
For food and groceries the SFS guidance figures are very generous so push those up.0 -
fatbelly said:This is a bit out of date but gives you a flavour:
https://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part7/part4/part_4.htm
For food and groceries the SFS guidance figures are very generous so push those up.
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No these are no longer available for the public to see.
Some posters on here do have access so if you pop your SOA on here we maybe able to help.0 -
Yes, as above. Theyy are guarded like the crown jewels.
Need to know how many adults, how many cars, how many kids, over or under 161 -
fatbelly said:Yes, as above. Theyy are guarded like the crown jewels.
Need to know how many adults, how many cars, how many kids, over or under 16
2 kids both under 16. 1 with Special needs
Things like food etc, is there numbers that are 'acceptable' that i can use to eek out what i can
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Please put your SOA on here so we can help.
It's a matter of putting down what you spend on different expenses.
Without your information we cannot advise0 -
fatbelly said:Yes, as above. Theyy are guarded like the crown jewels.0
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Sorry there are only three trigger figures now
Total communications and leisure spend
Total food and housekeeping spend
Total personal costs spend
What is in each one isn't a secret - e.g. the stepchange form itemises this
There used to be a figure for travel costs but this has now been dropped.1 -
fatbelly said:Sorry there are only three trigger figures now
Total communications and leisure spend
Total food and housekeeping spend
Total personal costs spend
What is in each one isn't a secret - e.g. the stepchange form itemises this
There used to be a figure for travel costs but this has now been dropped.
So keeping under those triggers and I should be fine when it comes to a review.
Assuming Petrol etc comes in travel costs0
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