A Free Bankruptcy, IVA And Simple IVA, Insolvency Advice Forum

[leonp9lbw]

Hi
I have recently been declared BR (Jan 09) and it has been like a great weight lifted of my shoulders. I have been paying an income payment arrangement for a couple of months now. My question is how often( if at all ),do they review how much you pay.

[Hg]

Hello

You need to tell the Official Receiver if your income increases while you are bankrupt, or of any other change in circumstances.

[km44]

Hi
I have been paying an IPA since Feb 07, nearly done.
Do not be worried about contacting the official receivers Office if you need to adjust your payments. A new income /expenditure form would need to be completed. I have halved my payment over the time I have been paying due mainly to inflation.
Also if you need any payment breaks due to circumstances contact the official receivers. These people are very civilised and sympathetic if you are struggling. The only contact I have had since starting payments have all been instigated by myself.
Three years is not such a long time for payments remember an IVA is for 5 years. Your credit reference will be ruined for 6 years whatever.

Good Luck