Allowances for IPA 1 December 2020 at 4:11PM in Bankruptcy & living with it 9 replies 512 views

Sonic101

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. 

fatbelly

This is a bit out of date but gives you a flavour: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. 

tonymcp86

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This is a bit out of date but gives you a flavour: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. 

Anyway we can get hold of SFS Guidance figures as I cant seemingly find them

luvchocolate

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. 

fatbelly

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

tonymcp86

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 Adults, 1 Car 
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

luvchocolate

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 advise 

Minkym00

fatbelly said:

Yes,  as above. Theyy are guarded like the crown jewels.

No, there are just many variables taken into consideration so allowances differ according to circumstances. Hence it wouldn’t be appropriate to publish a set of figures. Equally everyone would claim the maximum, whether it was true or not.

fatbelly

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.

tonymcp86

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.

Perfect thank you.
So keeping under those triggers and I should be fine when it comes to a review.

Assuming Petrol etc comes in travel costs