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T O P I C R E V I E W
Tifosi1
Posted - 27 April 2009 : 14:32:18 Hello
I went BR on 17th October last year and started making my IPA payments to MoonBeever in January. I just received a letter from the OR confirming that they want to look into whether i am eligible for an early discharge at the end of 12 months, and have asked me to fill out a new I+E form and send back within 14 days.
Could anyone tell me exactly what early discharge is? Does it mean that if granted i stop making payments after 12 months? Or just that i am no longer classed as BR but still need to make the payments to MoonBeever for a further 2 years.
Since i went BR they have moved me to a different OR office and i am worried that even though my circumstances havent changed, when the new OR gets my I+E form they will put my monthly payments up.
Thanks for the help
Tifosi
2 L A T E S T R E P L I E S (Newest First)
sjbyron
Posted - 27 April 2009 : 18:36:07 Hi
I wouldnt worry about them putting the payments up, an IPA is an agreement between the debtor (you) and the creditors, whereby the official reciever acts as mediator for it. If you dont agree to it, there is allowance but if it gets stuck then it goes to a judge and is made into an IPO which is an order from the court, so I wouldnt worry to much.
Best of luck
Stu J Byron
chester2005
Posted - 27 April 2009 : 15:15:38 Early discharge means you will be no longer BR but for it to be early it would be before 12 monts as you are automatically discharged after 12 months. As for the IPA, if it is an NT IPA then that should finish at the end of the tax year, if it is an income IPA then that will continuefor a total of 36 months from initiation (unless your income dropped then it could be reviewed)
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
