Author Topic: Returning to work and IPA's?  (Read 1066 times)

VitalKarma

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Returning to work and IPA's?
« on: Aug 23, 2010, 11:48:11 PM »
I have been on incapacity benefit since before my bankruptcy but would like to get back to work.

As i have been on benefits all this time i have no IPA. If I go back to work during my bankruptcy, what can I expect in the way of an IPA & how long would I have to pay it?

I still have several months until i am discharged, would it be better to wait until then to get a job?

many thanks for any help/advise, VK


Googley

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Re: Returning to work and IPA's?
« Reply #1 on: Aug 24, 2010, 09:02:09 AM »
If you go back to work then after allowance for living costs the rest of your wages will go into your bankrupcy, you dont get to keep it.  Better wait and jobs just are not that easy to get that it could take you months/years to get a job.  Better spend the time updating your CV and maybe doing a course to update your skills while waiting.  They are all starting in September so best time to do it and cheapest while on benefits.

Steven Jackson

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Re: Returning to work and IPA's?
« Reply #2 on: Aug 26, 2010, 01:32:22 PM »
Hi VitalKarma
 
If your financial circumstances improve for the better, your Trustee in bankruptcy can ask you to start an income payment order at any time while you remain bankrupt. As such, this could be done in the 12th and final month of your bankruptcy and then last for a further 3 years.
 
You are therefore better off sticking with the status quo until you are discharged particularly if this is only a couple of months to wait. However, as Googley says, there is no harm in preparing your CV and starting the job hunting process.
Debt Expert
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