IPA monthly payment but 4 weekly pay 28 April 2022 at 12:04AM in Bankruptcy & living with it 3 replies 134 views

Chrome020

Hi everyone. Does anyone know why IPA payments can't be set to every 4 weeks instead of monthly? I understand 4 weekly pay is 13 pays in a year but when they are adding money on top of my 4 weekly pay to make it into a monthly payment schedule is making it very hard, I'm having 50 that isn't there added on to make it monthly.

Sonic101

Hi there

I'm afraid I don't really understand your question. 

Even if you make IPA payments monthly, the the total amount you pay over a year should work out the same regardless of the frequency of the payments.  
Calculate your expenditure for a year then divide it by 12, this should give you the amount you should be paying monthly. If this indicates that the IPA payments set are too high you could contact the OR/OR's office to discuss, as long as you can justify why you are querying it they should take it on board. 

Chrome020

Sorry I didn't write it clear enough, the problem I have with the way it works is I get paid 640 every 4 weeks but the payment for the IPA is monthly. They are working out my pay at just over 690 for a monthly schedule. Things are tight as it is so when they're adding the 50 that I don't have in that period it's making it hard. How hard is it for them to have different payment schedules depending on how you're paid.

sourcrates

Contact OR`s office to discuss, they should work something out for you.