Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
T O P I C R E V I E W
lindsay.w
Posted - 09 June 2010 : 07:56:13 help!! can you please give me some advice regarding IPA, I am confused on how it is calcuated how much you pay or if you have to pay? Thanks
2 L A T E S T R E P L I E S (Newest First)
lindsay.w
Posted - 09 June 2010 : 10:52:59 Hi thank you for your reply. I been advised that as i have a single income and two children then I would not have to pay an IPO, it just seems all so easy to be made bankrupt although I know it will affect me for a long time.
I just want to be sure that this is the right way for me to become debt free.
Lindsay
gettingoutofdebt
Posted - 09 June 2010 : 08:21:48 The IPA is calculated on any DI you have over £99 i.e. after paying your rent, utility bills, food, etc. then if you have more than £99 left over you will pay an IPA.
The amount you pay is done on a sliding scale between 50% - 70%. If you have £100 DI then you would pay 50% i.e. £50. If you have £500 or more DI then you would pay 70% of this.
When you have your OR interview you should go through your I&E and it will be decided then if you need to pay an IPA. If you do then you will receive a form from the OR about 2 months after the interview telling you how much you have to pay. If you disagree with the amount then you can contact the OR and ask for a breakdown of the I&E figures that you have been allowed.
