Cost of living rise and IPA 16 May 2022 at 5:04PM in Bankruptcy & living with it 9 replies 455 views

peterparker12

Is it possible to contact the IPA firm and reassess cost of living rises. My petrol, food has gone up significantly. But it will go up further.

Whilst I know I can have any time, how often is 'normal'. ?

Sizzers

peterparker12 said:

Is it possible to contact the IPA firm and reassess cost of living rises. My petrol, food has gone up significantly. But it will go up further.

Whilst I know I can have any time, how often is 'normal'. ?

Hi There,

Does no one have an opinion on this extremely relevant and pertinent question?

I haven't got has far as an IPA yet (which I am dreading filling the details in for) and views would be most welcome.

luvchocolate

Hi when did you declare BR.? Have you had your OR interview yet? Are you expecting an IPA?
Sorry for all the questions but answer to your post depends upon these facts

Sonic101

This is just an opinion. but I’d hazard a guess at six months being a reasonable time period. Unless there is any guidance in the paperwork?

If your costs of living have gone up significantly I think it’s reasonable to request the IPA be adjusted. You’ll have to supply a revised budget, don’t know if you need to provide evidence but you could prepare just in case (eg, recent utility bills, receipts for petrol, etc.) 

You  can only base your budget on what’s happening now, if your costs go up again in say six months’ time you can request another review then. 

luvchocolate

Sonic101 said:

This is just an opinion. but I’d hazard a guess at six months being a reasonable time period. Unless there is any guidance in the paperwork?

If your costs of living have gone up significantly I think it’s reasonable to request the IPA be adjusted. You’ll have to supply a revised budget, don’t know if you need to provide evidence but you could prepare just in case (eg, recent utility bills, receipts for petrol, etc.) 

You  can only base your budget on what’s happening now, if your costs go up again in say six months’ time you can request another review then. 

I don't think an IPA is in place yet...I'm waiting for more information 

Sonic101

luvchocolate said:

I don't think an IPA is in place yet...I'm waiting for more information 

Makes sense.  It just was an assumption on my part, happened to remember reading earlier posts and recollected that they went bankrupt about a year ago when I joined the forum. 

Sizzers

luvchocolate said:

Hi when did you declare BR.? Have you had your OR interview yet? Are you expecting an IPA?
Sorry for all the questions but answer to your post depends upon these facts

It was in some ways a rhetorical question but I have the creditors petition hearing on June 6th for a relatively pitifully small amount but please don't ask. 

Single, zero assets of any description, full time employment on minimum wage, social housing, no car or additional transport costs (this may well change, though, due to poor health so hospital transport costs may arise).

As I am sure everyone experiences, virtually every time I do my shop something has gone up in price for the staples which I buy. This can very quickly all add up in a relatively short space of time.

This is the reason for my bumping the post, and this is excluding the expected £800+ price cap rise in October as reported by Ofgem today.

Sonic101

Sizzers said:

It was in some ways a rhetorical question but I have the creditors petition hearing on June 6th for a relatively pitifully small amount but please don't ask. 

This is the reason for my bumping the post, and this is excluding the expected £800+ price cap rise in October as reported by Ofgem today.

You’ve hijacked someone else’s post. 

Sizzers

Sonic101 said:

Sizzers said:

It was in some ways a rhetorical question but I have the creditors petition hearing on June 6th for a relatively pitifully small amount but please don't ask. 

This is the reason for my bumping the post, and this is excluding the expected £800+ price cap rise in October as reported by Ofgem today.

You’ve hijacked someone else’s post. 

I apologise if that may appear to have been the case but that was not my intention.

I am have not been used to forums for many, many years but as the post had remained unanswered for a week my only intention was to try and get the conversation started.

I am sure that this may have been relevant to a number of other people apart from myself, and I accept that the term "bumped", with hindsight, may not have been the choicest of terms.

luvchocolate

Sorry I'm confused as not sure who I'm replying to. 
It's always best to start your own thread