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  • FIRST POST
    • Jono987
    • By Jono987 12th Jan 20, 4:12 PM
    • 158Posts
    • 118Thanks
    Jono987
    It can be possible to pay your IPA off early
    • #1
    • 12th Jan 20, 4:12 PM
    It can be possible to pay your IPA off early 12th Jan 20 at 4:12 PM
    Hi guys, im currently looking at getting a mortgage 3 years after going bankrupt and thought id let people know how it might be possible!

    Around a year and a half into my bankruptcy, my parents very kindly offered to pay my IPA off in one go. I contacted the OR and they agreed to it, and then told me in writing that after it was paid, the IPA would be stopped and could not be reinstated.
    I asked specifically if this meant i could look for a better paid job without the risk of getting it taken from me, and they said yes!

    I never got a new job immediately (around a year later) but i thought people may be interested that it can be possible in some cases to have your IPA dealt with early.
Page 1
    • SarahDoe
    • By SarahDoe 12th Jan 20, 5:48 PM
    • 39 Posts
    • 24 Thanks
    SarahDoe
    • #2
    • 12th Jan 20, 5:48 PM
    • #2
    • 12th Jan 20, 5:48 PM
    Hi. I had it done too :-) made my life a lot easier. Since then had a significant pay rise and yet more to come :-))
    As mentioned before: asked OR, they agreed, paid money, provided the evidence where money came from.
    And thats it. Got letter confirming everything is closed :-)
    • Jono987
    • By Jono987 12th Jan 20, 7:24 PM
    • 158 Posts
    • 118 Thanks
    Jono987
    • #3
    • 12th Jan 20, 7:24 PM
    • #3
    • 12th Jan 20, 7:24 PM
    That's exactly how it worked for me!
    I was very lucky in that I got a very kind OR. Infact everyone at the OR office that dealt with me were very kind and wished me luck in turning my life around in the future.
    • Huxley4742
    • By Huxley4742 14th Jan 20, 12:38 PM
    • 1 Posts
    • 0 Thanks
    Huxley4742
    • #4
    • 14th Jan 20, 12:38 PM
    • #4
    • 14th Jan 20, 12:38 PM
    Thanks guys, I am wanting to pay mine off early, my father has kindly offered to supply the funds, what did you specifically write to the OR? I’m worried that they’ll refuse and come sniffing around my finances and I’m back on my feet now.
    • SarahDoe
    • By SarahDoe 14th Jan 20, 7:39 PM
    • 39 Posts
    • 24 Thanks
    SarahDoe
    • #5
    • 14th Jan 20, 7:39 PM
    • #5
    • 14th Jan 20, 7:39 PM
    Hi. I just said that i want to put all experience behind me as soon as possible (divorce following gambling addiction of my now-ex). Therefore, my dad kindly offered to clear the balance provided that IPA is concluded and cannot be reinstated.
    OR had to check with manager and few days later sent email confirming that it is good to go ahead, and company collecting the money is instructed.
    When funds were available, i gave them a call, made payment. And sent an email with bank statement clearly showing where money came from :-) few days later got a letter that it was done and dusted :-)
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