Change in Circumstance RE: IPA

lozzabeth · 28 February 2013 at 12:14PM

Hi Everyone

Just after some advice with regards to my current IPA arrangement with Moon Beever.

I started my IPA back in January 2011 ( payable for 3 years) for £78.00 a month. Since then I've moved home and in with a partner and we are now expecting our first baby together.

£78.00 a month is a lot to pay out on statutory maternity leave and I was wondering whether to inform Moon Beever to see if they can suspend my payments during this period?

The only problem is, I don't want them to ask for another IPA completion as this will open up a whole new can of worms for me - when I went into BR I was single and was solely responsible for household payments, however since then I have moved into his home and both of us are contributing to household expenses.

I'm also on commission based pay and had a good run the past quarter so I don't want to have to submit recent payslips as this isn't truly reflective of my annual salary.

Do you think it's more hassle than it's worth contacting Moon Beever and perhaps I would be better off just swallowing the £78.00 month on maternity leave (only taking 6-months anyway), however moving forwards it is still another mouth to feed....

What do you recommend? Would Moon Beever just accept it if I said my circumstances remain identifcal other than I am having a baby or will they want proof all over again, wageslips, rental agreement, copy of council tax bill etc etc...

Thanks for your help!

sniggings · 28 February 2013 at 5:46PM

You only pay the money to Moonbeever, it's your OR you need to tell of any changes, you have already agreed to do that so I strongly suggest you do, and yes more than likely you will have to do a new SOA as that is the only way your OR can fairly adjust your payment.

If your bonus etc was only for a few weeks, the OR will take that into account, they will asses your wages over a longer period.

PippaGirl_2 · 28 February 2013 at 7:14PM

lozzabeth, you are legally obliged to inform your OR of any change of circumstances that change your income or expenditure so they should already know about your move and your partners contributions. If not, you have gone back on your agreement.

Do update your OR to date, and then again when you go on maternity leave.

Lou67 · 28 February 2013 at 8:39PM

sniggings wrote: »

You only pay the money to Moonbeever, it's your OR you need to tell of any changes, you have already agreed to do that so I strongly suggest you do, and yes more than likely you will have to do a new SOA as that is the only way your OR can fairly adjust your payment.

If your bonus etc was only for a few weeks, the OR will take that into account, they will asses your wages over a longer period.

I was going to say this Lozza, but sniggings beat me to it!

sniggings · 28 February 2013 at 9:06PM

Lou67 wrote: »

I was going to say this Lozza, but sniggings beat me to it!

beat you to it, only by about 20 hours...if this was the London marathon you would be the one in the diving suit finishing 3 days after everyone else

lozzabeth · 4 March 2013 at 10:10AM

Thanks Everyone

I thought I only had to advise of change in circusmstances in the first 12-months of actual BR, didn't realise it was throughout the IPA period too.

Great what a nuisance I could never get hold of my OR once my case had been passed on, so I doubt I will have much success now.

I'll try....

Alternatively could I not just pay Moonbeever off in advance for the 10-months owed? I have heard of cases where this has been done?

fermi · 4 March 2013 at 10:30AM

lozzabeth wrote: »

Thanks Everyone

I thought I only had to advise of change in circusmstances in the first 12-months of actual BR, didn't realise it was throughout the IPA period too.

Depends on the wording of the IPA agreement.

The more recent IPA agreements state.

[FONT=Verdana, Arial, Helvetica]Until the end of the term of this agreement I shall notify the Official Receiver or other trustee of any increase in income within 21 days of becoming aware of the increase. I understand that the Official Receiver or trustee may claim any increase in income for the benefit of my creditors. I acknowledge that my obligation to make payments under this agreement does not end when I am discharged from bankruptcy and that failure to make payments can affect the date upon which I am discharged.[/FONT]

If you sign that, you are bound by that.

Whereas IPA agreements issued up until a few years ago said:

Until I am discharged from bankruptcy, I shall notify the Official Receiver or other trustee of any increase in my income within 21 days of becoming aware of the increase. I understand that the official receiver or trustee may claim any increase in income for the benefit of my creditors. I acknowledge that my obligation to make payments under this agreement does not end when I am discharged from bankruptcy and that failure to make payments can affect the date upon which I am discharged.

Jaypsarticus · 17 August 2018 at 4:48PM

Sorry to dig this old Thread up. This does not state that you need to inform them of circumstance change only income increase. is this correct still?

Change in Circumstance RE: IPA

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