Just a quick question, have now been discharged but am paying an IPA. There is some talk of redundancies at work and as I work in financial services I am worried that I will struggle to find another job if that does happen. If I do get made redundant what happens with the IPA / will they put it on hold / how long for?
As soon as you know the situation then you have to contact the OR and tell them.
It could mean that the payments are stopped until you find another job and if you dont get another one then it may be that in the end the payments stop anyhow.
You will not be expected to go over the 3 years if any payments are missed, its only for the 3 years so if you cant pay for 6 months then it will still finish on the date you were told and no longer so you wont have to repay any monies missed.
Up until then you must continue to pay if you dont and unless its circumstances out of yoour control the OR may no tbe too happy with you, if you experience any difficulties whilst in the IPA then you must tell them asap.
That can be for raised household costs, a new baby, loss of income etc etc.
Hope that helps
Jo x
18 Weeks down
34 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Needafriend's Info on Bankruptcy :-) http://debtfreejo.blogs.bankruptcyhelp.org.uk/ Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
IPA & redundancy
Posted - 11 December 2008 : 13:27:13
