Ipa Question

skibadee

I'm currently in a DMP with PAYPLAN.....pay £256.76 a month....have been considering bankruptcy...but am wondering how much I would be expected to pay in a IPA.

fermi

Impossible to say with any certainty.

They would look at your income and expenditure to see whether you have any surplus income. The budget that you would be allowed is likely to be more generous than the one that determines your DMP payments. You only pay an IPA if your surplus income is £100 per month or greater, and then only 50-70% of the surplus would be taken.

There is plenty of info here: IPA/IPOs

Have PayPlan suggested bankruptcy? You really need professional advice that it is a good option for you before you seriously consider it. The judge/court requires you to have taken such advice.

philnicandamy

After a surplus of a hundred pounds after you have paid everything out a month the OR would take a percentage have a look below *** Edit....I really need to be quicker!!****

tigerfeet2006

The allowances in BR are different than in a DMP. So if you want to pop up up your I&E here that the DMP company have allowed you. We can have a look and give you an idea what to expect.

fermi

Forgot to mention the 36 months.

I seem to have developed a habit of cross-posting with JSC1.:cool:

EDIT: and everyone else.:rotfl:

EDITED EDIT: and JSC1's post has gone making me look delusional. :eek:

JCS1

fermi wrote: »

Forgot to mention the 36 months.

I seem to have developed a habit of cross-posting with JSC1.:cool:

EDIT: and everyone else.:rotfl:

EDITED EDIT: and JSC1's post has gone making me look delusional. :eek:

Sorry - thought I would delete it as we posted the same thing at the same time! It is becoming a habit though :rotfl: