a lot has changed in the first year

[ali.h]

I have approached my first Review and a lot has changed in the first year. I have had to move out of my parents address in to a rented house and my rent has got doubled. I have sent all paperwork back for teh review and a copy of my tenancy agreement, BUT i have been doing overtime to help me stay above water, what do i do if i can not pay back the 50% overtime and will my ip be able to reduce my monthly payments or will they remain the same?? any advice would be great, thanks

[aguise]

Hi Ali
Wait for the tech expert opinions but I would think if you have sent receipts, statements etc showing all your rises in expenditure then these can be offset against your overtime. A reduction in monthly payments may not be avaliable without a variation meeting, but if you continue with overtime you could ask for these to be offset before paying your 50%,
As said wait for other opinions.

Ang

[MelanieGiles]

That will depend upon the attitude of your IP. If I were acting I would firstly expect the increased expenditure to be met from your 50% of the uplift monies, and any balance to be deducted from the creditors share. So long as your main agreed payments are up to date, there is really little to worry about, but do let us know how you get on.