Issues and questions that come up during your bankruptcy period

Moderators: TalbotWoods, JaneClack

By jamtoe
#462563 Hi,
I have been informed that the Official Receiver cannot change my ipo after my bankruptcy date. My discharge is in November but my ipo will still have another two years to run does anyone know if this is true?

Thank you
User avatar
By TalbotWoods
#462573 No that is NOT correct (normally), they can be varied ANYTIME over the duration of the IPO. They can go up, down or be suspended.

Both an IPA and an IPO can vary, please see this Word Document which is from the Insolvency Service, in which you can see there is leeway for changes in Income and Expenditure ... pa-ipo.doc

HOWEVER, it may depend on the reason why an IPO has been ordered by the court, instead of a mutually agreed IPA. It may be that the OR has requested that only a court can vary the IPO.

However, the FIRST people to contact to see if the IPO can be varied is the ORs office.