In determining whether the liquidator can afford an IAP/IPO, the official liquidator must conduct an objective assessment of the revenue and expenditure data, as required by the judge with respect to an income payment order. For more information on expenses that may be considered reasonable expenses, please see Part 4 of this chapter. See also Appendix D for an overview of expenses. Where possible, the figures should be supported by actual payments. If the liquidator can only assess his expenses, the budgetary expenditure table (HES) found in the technical section sector on the intranet provides details on average expenditures for different budget groups. This information is taken from the Office for National Statistics` (ONS) annual family expenditure survey and shows the average monthly expenditure for a large number of national groups in table format. The table is provided as a reference for assessing the liquidator`s claims on expenses estimated on the basis of the national average. Estimates that differ significantly from the average must be demonstrated and explained in computer notes when allowed in the calculation. (f) An IAP may be amended by a written agreement, but the duration of the agreement cannot be extended beyond three years from the date the agreement enters into force (for more information on the amendment of the PPI, see Part 7). The agent will consider the change in circumstances and decide whether to change your IPA or IPO.
Depending on the change in circumstances, the PPI or IPO may be suspended, payments may be increased or you may be asked to pay a portion of the package. If the agent is not willing to change the amount, you can ask the court to order that it be changed. c) An IAP may provide that payments are made by a third party [note 4], z.B by an employer. If you have income that does not come from benefits such as wages or alimony, you are only invited to create an PPI if you are bankrupt and have more than $20 of disposable income per month after paying the bills and the daily cost of living for your family. If you do not pay an IAP or AN IPO, the official beneficiary or lawyer may take other measures, including direct payment of your salaries. (g) there should be only one PPI. For example, if the liquidator has agreed to make higher payments after the NT code is applied, this should be included in the existing PPI as a separate item. After your bankruptcy, the official beneficiary will carefully examine your situation. You will look at your income and expenses and find out if you have something each month that could be used to pay your debts and the costs of managing your bankruptcy. People with only one source of income are not required to create an PPI.
An assessment is made based on whether you have at least $20 of disposable income per month. This takes into account the payment of your daily cost of living and your family bills. If you refuse to implement an IAP, the official beneficiary or your agent can apply to the Court of Justice for a payment order or an IPO. If you miss the IPA payments, the lawyer who inserts them will contact you. If you do not miss payments or argue with them to accept a change in payment, they could take legal action to get missed payments from you. Once your bankruptcy has begun, you may be invited by the official liquidator to participate in the mass of bankruptcy.