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starboy
Starting Member
35 Posts |
 Posted - 01 December 2009 : 19:29:07
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| how do there work out an ipa |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 01 December 2009 : 20:16:27
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An IPA is worked out on your disposable income after all your priority bills have been paid.
Anything over £99 a month disposable income after that will be subject to an IPA. At the moment it is subject to a sliding scale and you will pay between 50 and 70% across.
I have it on good authority thought that things are going to be tightened up in the New Year and the IPA's are likely to be brought more in line with the IVA payments.
The glimmer gets brighter all the time
Jan
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In 2 Deep
Junior Member
United Kingdom
161 Posts |
Posted - 01 December 2009 : 21:21:06
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Kallis,
Are you saying that an IPA will run for 60 months (as per an IVA), or will it continue at 36 months?
Thanks.
quote:
Originally posted by kallis3
An IPA is worked out on your disposable income after all your priority bills have been paid.
Anything over £99 a month disposable income after that will be subject to an IPA. At the moment it is subject to a sliding scale and you will pay between 50 and 70% across.
I have it on good authority thought that things are going to be tightened up in the New Year and the IPA's are likely to be brought more in line with the IVA payments.
The glimmer gets brighter all the time
Jan
xx
Treat EVERY Penny as a prisoner. |
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debtinfo
forum expert
2826 Posts |
Posted - 01 December 2009 : 21:28:11
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| Interesting Kallis, what have you heard. I do not know of any impending legislative change or do you just mean that they intend to be stricter with allowances |
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Srrs
Starting Member
33 Posts |
Posted - 01 December 2009 : 22:56:49
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Hi,
I have a question on this!!
I already have an IPA in place, made my first payment today. Does this mean in the new year that this could be reviewed and I may have to pay more??
Also, after I am discharged do I still have to inform anyone of any pay increases / bonuses? Would my IPA be put up if I was to receive a pay rise / bonus??
Thank you,
Rachel |
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 01 December 2009 : 23:15:07
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Srrs
whilst paying an IPA you are obliged to inform them (moonbeavers normally) of any changes up or down in your income or expenditure
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 02 December 2009 : 09:32:38
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I've also heard that allowances are going to be tightened next year. As far as I know the IPA will still run for 36 months but the allowances will be much stricter, with the possibility of paying over 100% of disposable income.
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/
28 IPA payments made, 8 to go - in single figures! |
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ipa
