What Is An Ipa

scottyrutter · 20 March 2007 at 12:31PM

How Long Does An Ipa Go On For Does Everyone Who Goes Bankrupt Get One Also Once Your Discharged Does The Ipa Continue

Richard_S · 20 March 2007 at 1:05PM

scottyrutter wrote: »

How Long Does An Ipa Go On For Does Everyone Who Goes Bankrupt Get One Also Once Your Discharged Does The Ipa Continue

Hi Scotty,

An IPA is a flexible arrangement that's based on your income and expenditure budget during the period before you are discharged. Any surpus income over £50 the O.R takes a percentage of for three years; the higher the surplus the higher the percentage taken. If you don't have any surplus income over £50 you don't have to pay, if your circumstances change before you're disharged you have to notify the O.R, after you're discharged you don't.

Regards

Richard

Toomuchdebt · 20 March 2007 at 1:25PM

I thought it was over £100 that you had to start paying??

Richard_S · 20 March 2007 at 2:02PM

Toomuchdebt wrote: »

I thought it was over £100 that you had to start paying??

Ah TMD,

You could be right, I bet I was thinking about the £100 equating to a monthly payment of £50.

Richard

tight_jock · 20 March 2007 at 11:36PM

There is a sliding scale percentage wise which goes up as your level of surplus gets larger.
It starts at 50% of any surplus over £100 and goes to a maximum of 75% of surplus but can`t remember how much that is applied at.

What Is An Ipa

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