Hi,
In November 2023 I was made bankrupt and because of my low income, I did not have to enter into an IPA. I have now started a new role which is a much higher salary, therefore I know I will now have to have an IPA and have spoken with the IS already.
My questions are –
1. I now have enough surplus income that after the three year term of the IPA, I will have cleared the original amount that the BR was for. Will that remove the BR from my file (as if it never existed and all debts satisfied) or will it remain?
2. If the BR will be completely cleared in the 3 year term, will they take the maximum amount from me each month that they say is available or just the amount that will satisfy the debt over the course of the IPA term?
