This sounds to me as if incorrect figures were presented to creditors, who have asked for a substantially higher contribution. If you were happy with the figures presented, and they merely did not fit the allowances deemed reasonable by your creditors, then you do need to be careful not to take on ongoing commitments which you know you cannot afford. However, for your IP to say that there is no way he can go back with a revised budget - what does that mean? That you cannot afford to increase your offer, or he/she does not want to present revised figures for you.
You do have a period of up to 14 days to reconsider a revised offer, so instruct your IP to adjourn proceedings so you can have a good think about things - and get a second opinion if you feel unhappy about the decision made.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
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