If ive been paying an IPA for say '2 years' and then i lose my job and cant get another job for a long time, and by this time the 3years for IPA is finished. would that be the end of it or would i have to make up the months ive missed ?
An IPA runs for 36 consecutive months (not 36 repayments) from the 1st payment. If your income decreases during the IPA to a point where you don't have more than £99 DI then you don't have to make up the payments.
In reality you could pay an IPA for the first month, lose your job, miss the next 35 payments as you don't have enough income and the IPA would then expire.
Lost job whilst on IPA
Posted - 03 September 2009 : 20:54:14
