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| T O P I C R E V I E W |
| bang up |
Posted - 09 March 2009 : 12:51:23
hi - i'm currently in an ipa, but being evicted from my home of 20 years (through no fault of my own) cos i'm one of 500 prison officers being thrown on the streets by the prison service.
since there is no council housing available where i live, if my rent in private accommodation were to increse by say around a £1000 - £1500 a month, maybe more, how would this affect my ipa? i pay just under £500 a month into the ipa. is the o/r likely to stop the ipa if i've got no money to pay it (which is clearly gonna be the case when we get evicted).
also - my health is really suffering through stress and i've already had a heart attack a couple of years back, if i were to give up my job how would the o/r view this and what would the likely outcome be in respect of the ipa.
thanks
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| 3 L A T E S T R E P L I E S (Newest First) |
| Melanie.n |
Posted - 09 March 2009 : 18:43:06
The IPO is set to reflect your personal income & ependiture so if anything changes, particularly your income as self employed, please get in touch with them as soon as you can, as if you do not have that level of income you will not be liable to make the IPO payment, whatever you do do not struggle and reducing in others areas just to ensure you make the payment
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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| matt53 |
Posted - 09 March 2009 : 18:09:24
Hi I just came out of my examination (3 hours!) with the receiver and have been told that i will be set a 500 a month iva, i am self-employed and he did say that if i find my turnover drops and i am struggling to pay it and can show them the problem anytime over the 3 years of the agreement,they will change it to a figure i can afford.
Good luck
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| xmas baby |
Posted - 09 March 2009 : 13:33:01
Hello,
Sorry to hear you're going through a rough time. As far as I know you are only liable to pay an IPA if you have any disposable income. The fact that you have been paying quite a lot until now will make no difference as your circumstances have changed and you are no longer able to make the original payments into the IPA. I would imagine the OR will now make arrangements for your IPA to cease. Maybe an expert can confirm this, but this is my impression.
Hope things turn around for you soon.
All the best
xmas baby |
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