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xmas baby
Average Member
537 Posts |
 Posted - 13 February 2009 : 14:10:02
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Hello,
I hope someone can give me a bit of advice on the following question please. I am going to petition for bankruptcy at the beginning of March and I am just wondering how long it takes for an IPA to be arranged. The problem is that after I have paid the bankruptcy fee, this will leave me with no disposable incomce for the rest of March, although by April I should have some disposable income and therefore will be able to pay an IPA. Does anyone know how long it takes the OR to set up IPA payments and what happens to any disposable income (if you have any) between the time you become officially bankrupt and the IPA payments begin?
Thank you
xmas baby |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 13 February 2009 : 14:14:07
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Hi Xmas baby,
Not too sure about this, but I don't think you will have to start paying in March. You will obviously have to wait for the interview with the OR.
Any income you have between the BR and the IPA, you will probably need to use to pay bills.
I am sure one of the professional experts will be on later to allay your fear properly!
The glimmer gets brighter all the time
Jan
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xmas baby
Average Member
537 Posts |
Posted - 13 February 2009 : 15:18:39
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Thanks for your reply Jan. As you say, I will need all my income during March to pay for bills, so I assume an IPA won't come into force until my interview with the OR (crikey!!) has been completed and he sorts out what my IPA payments are.
Thanks again |
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John
New Member
United Kingdom
73 Posts |
Posted - 13 February 2009 : 18:48:04
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Hi
March won't be a problem.
An IPA cannot start unless you have the disposable income and the bankruptcy fees are a legitimate, not to say mandatory, expenditure.
timendi causa est nescire
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 15 February 2009 : 14:37:35
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Mine took 3 months from the date of BR to the first payment.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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Hello,I hope someone can give me advice
