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firstly, what is the difference between the two?

once a person is declared bankrupt, if they do not have enough disposable income for a payment order, I understand they will not get one but can an order be made anytime up to 3 years? What if the person got a better paid job, say after a few months had passed?

Hi Jane

An IPA is an agreement you enter into by mutual discussion with the OR. An IPO is a Court Order, which is generally used when there is disagreement between bankrupt and OR. Technically an Order can be made at any time during the period of the bankruptcy, so if your circumstances improve you would be duty bound to inform the OR who may reassess your situation.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

melanie i was told that if an ipa or ipo was not set up within the first 12 months of your BR or up until you are discharged they cannot enforce one afterwards even if your circumstances change.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

That's quite correct Scaredkez