Income Payments Order (IPO)

Extracts from the Myvesta Forum:

Question from 2indebt:

We are wondering whether we will have to pay an IPA (Income Payment Agreement).

Someone told me that going bankrupt on 28th Feb, we should have heard by now if the O.R. has deemed that we have enough surplus each month to have one. We obviously don't want to pay any monthly fees for 3 years (it's a bit like an IVA don't you think?)

I know it all takes time to process but does anyone know if we should have heard by now or is no news, good news?

Thanks

Answer:

Hi 2indebt,
It will really depend on how busy the Official Receiver is and whether you have a disposable income or not. Typically the OR will want 50% of this.

Hope this helps!
_________________
Kind regards

Sean

http://www.myvesta.org.uk
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