Ipa question

KEVKEV
KEVKEV Posts: 1 Newbie
in Bankruptcy & living with it
Hello everyone. After much thinking and soul searching I’ve filed for bankruptcy today. I have an IPA question, hoping someone can help?
After I’d done my income and expenditure, the figures showed I have about 700 quid left over every month, and the online form advised I’d have to pay an IPA for next 3 years. Which is fine. But how much of my left over money will they likely ask me to pay? All of it?! Or will they leave me a little?

Thanks in advance for any advice. X

Comments

  • luvchocolate
    luvchocolate Posts: 3,254 Forumite
    First Anniversary Name Dropper First Post Home Insurance Hacker!
    Hi they will take 100% of any surplus which is why its so important to get your S.O.A right.
    If you post it on here we will look at it and see if you have covered everything.
    Have you taken advice from one of the debt free charities?
  • TheGardener
    TheGardener Posts: 3,303 Forumite
    Name Dropper First Anniversary First Post
    You really should post your SOA - to have a £700 p.m surplus would suggest you are either a very high earner or you have not taken advice on your SOA.
    You can find a good calculator here and then use the format poster at the bottom to post on here.
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