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Going Bankrupt and IPA/IPO's

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  • #1

    Going Bankrupt and IPA/IPO's

    If I declare myself bankrupt and my income is all benefits, will I get an IPA/IPO ?
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  • #2
    Re: Going Bankrupt and IPA/IPO's

    Originally posted by chrisp1968 View Post
    If I declare myself bankrupt and my income is all benefits, will I get an IPA/IPO ?
    No, if your income is just from benefits, you will not be asked to make payments into an Income Payment Arrangement (IPA)

    An IPO is a court order that would only be made if you refused to make payments under an IPA so this wouldn't apply either.

    The attached document has full details about IPAs and yes, it's published by the Insolvency Service. :nerd:

    The NE Derbyshire CAB have a useful online IPA calculator: https://nedcab.cabmoney.org.uk/bankruptcypoc.asp
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