I declared myself bankrupt in October 07 and I've just been told by the company managing my IPA (Clarke Wilmott) that I have a fixed amount I need to pay back which was based on 36 payments of my original IPA order. Is this right??
I have since moved jobs and counties therefore my I&E has gone up and down in relation to this. Currently I am on half the salary I was in October 2007 (moved out of London) and I still have approx the same outgoings - I can't see how this is fair that I have to pay back over the 36 months the original amount - which was 36 x £275 = £9900. I've paid off about £3000 so far so at the moment with my current IPA payment (that they agreed to) of £100 per month - I'll be paying my IPA for another 69 months!??
Surely this can't be right?!?
Any help much appreciated.