My husband has an ipa which he pays 75pmth, he has to pay it to a solicitors, where does this money go, as we are getting statements from a bank and the balance is the same as it was when he went bankrupt
Hi your IPA will go into a receivables account with the OR. He will use the funds received to discharge the bankuptcy expenses including his fees. He will produce an account and there may be a dividend payable to creditors. The people who are therefore owed money may receive something in the £ in due course. To be honest it doesn't really matter as your husbands creditors if they receive anything will only get pence
Where does IPA money go ?
Posted - 19 January 2012 : 15:14:14
