Once a bankruptcy order has been made, the Trustee will consider whether it is appropriate for the bankrupt to make regular payments/contributions from their income and if so, will request a specified amount for a set period. Whether such payments are required will depend on the bankrupt’s circumstances and in particular, the amount of any surplus income after paying various monthly outgoings. The greater the surplus, the more likely it is that the Trustee will request payment. If the request and/or the amount are disputed, the Trustee can apply to the Court for an IPO. The Court will consider the circumstances and may then order payments in which case it will fix the amount and duration although it is open to both the Trustee and bankrupt to seek a variation, if the circumstances change.
We have extensive experience in opposing requests/applications for IPO’s either with a view to avoiding any payment or demonstrating that a less sum is appropriate.
An initial no obligation telephone discussion is free, so why not call or email David Cousen.
T: +44 (0)161 833 0578
E: david.cousen@fdl-law.co.uk
