Income Payment Order (IPO)
Legal & insolvencyA court order requiring payments from your income during bankruptcy.
Overview
An IPO is used if an agreement cannot be reached.
It is legally enforceable and time-limited.
Why it matters
- It affects your monthly budget.
- It is enforceable by the court.
- It shows ongoing financial obligations post-bankruptcy.
FAQs
How is an IPO different from an IPA?
An IPO is ordered by the court, while an IPA is an agreement.
Can an IPO be varied?
Yes, if your circumstances change.
Related terms
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