Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By mrsmith
#3563 I was declared BR in Dec and had my telephone interview a week later. When I had my interview the interviewer suggested given my income I would be expected to pay IPA but I said I could not afford one. He said he'd discuss with his boss and get back to me first week in Jan to discuss.

I have not heard anything and obviously do not want to hassle him, but on the other hand I'd like to know a.s.a.p. if I'm going to have to pay an IPA - sooner I start, sooner I finish (although I don't know where the money will come from to pay it if they demand it!).

My question is how early into the BR is it normal for an IPA to be formally requested? Could it be any time in the year?
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By JaneClack
#3568 It can be requested any time up to discharge I am afraid but if you argued that you did not have enough money available they may have accepted it. They may also be examining it so I should not count my chickens yet. I'll keep my fingers crossed though - and it would not be all your surplus anyway remember!
ByDavidc
#3578
Sarah wrote:It can be requested any time up to discharge I am afraid but if you argued that you did not have enough money available they may have accepted it. They may also be examining it so I should not count my chickens yet. I'll keep my fingers crossed though - and it would not be all your surplus anyway remember!


If the Bancrupt will not agree to an IPA the next step is to apply for an IPO.
Once this action has been decided on . The timeframe is 6 weeks untill the paperwork comes back from the court .They then notify the bankrupt giving him a minimum of 28 days notice of the appearance.....The matter of what the bankrupt can or can not afford is decided in court after scruitinising the figures ....
David