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jmjs1986
Starting Member
34 Posts |
 Posted - 14 January 2010 : 09:49:06
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| When you pay into an IPA where does the money go to? |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 January 2010 : 09:55:33
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The money is collected on behalf of the Official Receiver by a company called Moon Beaver, who are a firm of solicitors.
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/
30 IPA payments made, 6 to go - the end is in sight! |
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jmjs1986
Starting Member
34 Posts |
Posted - 14 January 2010 : 10:02:56
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| I know Moonbeever collect this money but what does Moonbeevers do with it? |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 January 2010 : 10:09:48
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As far as I'm aware the money is firstly used to pay for your BR, and anything left is then distributed among your creditors.
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/
30 IPA payments made, 6 to go - the end is in sight! |
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debtinfo
forum expert
2826 Posts |
Posted - 14 January 2010 : 19:02:14
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The money is paid in this order
1) agent fees
2)IS/OR fees/Bankruptcy costs
3)Petitioning creditor fees
4)preferential creditors
5)Ordinary Creditors |
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IPA/Nil Tax code
