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 Could anybody please clarify. Thank you
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samanthadm
Starting Member



United Kingdom
27 Posts

Posted - 06 July 2009 :  22:33:30  Show Profile  Reply with Quote
Hi There,
I thought I had read the IPA lasted from between 12 and 36 months, depending on your circumstances and your OR. On further reading though, i am now under the impression, it lasts 36 months. Could anybody please clarify. Thank you

debtinfo
forum expert



2826 Posts

Posted - 06 July 2009 :  22:56:31  Show Profile  Reply with Quote
Hi for clarification, The maximum length by law is 36 months. The IPA may last from 1 payment to 36 months, however most last the maximum amount of time. The main reason for a shorter IPA would be if sufficient income was gathered to pay all debts and costs in a shorter period of time.
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Niobe
Administrator



United Kingdom
4590 Posts

Posted - 06 July 2009 :  23:06:05  Show Profile  Reply with Quote
The other reason it can finish earlier is if you lose your job and as a result your disposable income drops below £100 per month.

The glimmer gets brighter all the time

Jan
xx
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