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ala
Junior Member
171 Posts |
 Posted - 14 May 2008 : 14:31:19
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Do IPO's (if initiated) have effect for up to 3 years from the date of the bankruptcy order being made or do they last for 3 years at any time in the future after discharge when it is deemed that the ex-bankrupt has sufficient income/assets to entertain an IPO?
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 May 2008 : 16:56:11
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An IPA or IPO must be implemented before discharge and runs from 3 years from the date of the first payment. If it isn't implemented before discharge you won't get one.
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/ |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 14 May 2008 : 19:50:47
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Hi ala,
As skippy says it is 36 months from the date of the first payment, however the IPO could be set in your final few weeks of Bankruptcy and if an IPA is offered and not accepted the Trustee could apply to have your discharge suspended until an IPO is in place.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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tom
Junior Member
181 Posts |
Posted - 15 May 2008 : 21:06:28
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| Hi Brett..I was made to sign an IPA even though I was on and still am on income support. The trustee asked me to sign it and said that it was voluntary payment and that if I can't pay he can't make me pay. Now he is asking me to start the 1st payment, what should I do? I am now discharged. Best regards |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 16 May 2008 : 19:35:23
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Hi Tom,
I take it you liaised with the examiner who was the person who asked for you to sign this?
I would contact the assistant official receiver and for this office and question why you were made to sign this in the first instance.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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melanie_giles
Senior Member
1191 Posts |
Posted - 17 May 2008 : 11:32:09
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An IPO should definately not have been made if your income is solely derived from benefits.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 May 2008 : 19:47:03
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I totally agree and think you need to make a strong complaint regarding your position.
You should never have been asked to sign the IPA.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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tom
Junior Member
181 Posts |
Posted - 18 May 2008 : 18:48:19
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| Thank you all |
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Topic |
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when do IPO's take effect
