Payment Reductions?

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Post by petet2008 » Sun Jun 29, 2008 11:29 pm
Hi all,
my partner and I have been in an IVA for over 2 years now, however in the last year we have become parents. My partner is now on SMP and as we all know this is not a lot. Add all of this to the increased price of living! We recently completed our I&E form for our supervisor and he has recommended our payments stay the same. We are really struggling to make ends meet at the moment, we have contacted our provider however they say there is little they can do as it is the supervisor who has the overall authority. We have written letters stating our change in circumstances but to no avail. Does anyone know if payment reduction is possible, or is there any legislation that allows for changes in circumstances? For information our arrangement is £600.


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Post by MelanieGiles » Sun Jun 29, 2008 11:34 pm
Hi there and welcome to the forum

Your supervisor could put a revised offer to creditors at a newly convened meeting to adjust your payments to an affordable level. I suggest that you insist on speaking to the supervisor to discuss the prospect of this given your change in circumstances.
Regards, Melanie Giles, Insolvency Practitioner
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