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T O P I C R E V I E W
Rdfr2010
Posted - 29 September 2010 : 18:35:50 When I've gone bankrupt will I need to pay IPA also how long do I need to pay it for???
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 29 September 2010 : 18:46:54 If you have more than £99 DI (Disposable Income) i.e. income after paying rent, utility bills, food, clothes, etc. then you will have to pay an IPA for 36 months. The IPA can increase or decrease depending upon your income so if have more than £99 DI once you are BR you will pay an IPA but if your income reduces to less than £99 DI then the IPA will stop until your DI increases.
The amount you pay is between 50% and 70% of your DI depending upon the amount of DI. At £100 DI you pay 50% as an IPA and with £500 or more DI you pay 70%.
