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paulgm_2000
Starting Member
49 Posts |
 Posted - 03 August 2011 : 09:24:44
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Hi all, hope everyone is well.
Haven't posted for a while. I was declared Bankrupt October 5th 2010 and stupidly agreed to sign a £0 IPA(I know!).
However, having spoken to the person dealing with my case they 'assured' me that it would not be implemented and my case would be reviewed just before discharge.
A difficult one I know but, should I be expecting an IPOQ through the post soon? My expenditure/income hasn't change so I still don't have any surplus(negative if anything).
- Will I be informed if the orginal £0 IPA is to be inforced?
- Will I definetly get an IPOQ form?
- If I don't get an IPOQ and there is only a few weeks before AD, should I presume I won't be getting an IPOQ and no IPA?
If anyone can help, that would be great.
Thanks, love this forum!
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Edited by - paulgm_2000 on 03 August 2011 09:25:52 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 August 2011 : 12:25:31
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Hi Paul, nice to see you.
No idea on this one but will bump it up so one of the experts can hopefully advise.
Can't believe it was that long ago!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
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paulgm_2000
Starting Member
49 Posts |
Posted - 03 August 2011 : 12:32:31
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Hi Kallis,
The last few months have dragged really badly and I'm counting the days to be honest!!
Hope you're well! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 August 2011 : 12:46:42
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I'm fine thanks Paul - hope you are as well.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 03 August 2011 : 16:57:48
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Hi Paul
Glad to hear Autodischarge rapidly approaching, you will be discharged at the end of the Bankruptcy year.
The income Payment agreement is a three year clip on,(from the date letter was signed) you have either been a big earner or potential for big earner
you have signed up for a three year £0 IPA, if your income increases/ decreases you should inform your trustee. (check the paperwork that you have signed they normally provide copies)
The trustee has the power to remove you from the IPA but i would expect to have that in writing not a casual comment.
As stated above the IPA will not affect discharge from bankruptcy, The £0 IPA just means that if you now start working or any time in next 3 yrs on mega bucks the OR will ask for a contribution towards the cost of your bankruptcy and creditors.
Good Luck Richard,
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paulgm_2000
Starting Member
49 Posts |
Posted - 04 August 2011 : 08:06:55
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Hi Richard,
Thanks for your comments.
I have a company acting on my behalf in my Bankruptcy and it was they who contacted the IP/trustee when they realised I'd signed the £0 IPA. The Trustee stated that they didn't mean to issue the £0 IPA as I was NOT a high earner previously and with little prospect of being a high earner.
It has been suggested elsewhere on this forum that they do indeed issue the wrong letter sometimes. We were also assured by the trustee that the £0 IPA would NOT be inforced. That said, they were not prepared to issue this in writing!
In addition to this I spoke with Moonbeever in April as my Nil Tax code ended just to clear something up. They also said I was NOT subject to £0 IPA at the time. Does this have any bearing on my situation?
Should I contact my Trustee to clear things up or just wait and see what happens?
Many thanks for your help
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Edited by - paulgm_2000 on 04 August 2011 08:08:20 |
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Closing in on Discharge!
