Would a variation meeting be required

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louiseh

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Post by louiseh » Thu Oct 09, 2008 8:41 pm
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If my IVA payments increase over the first 2 years at the annual review (due to payrises, 1 increase so far) and then at the start of year 3 my expenditure shoots up (end of mortgage fixed rate). Could my IVA payments be reduced to their initial level without the need for a variation meeting?
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Skippy

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Post by Skippy » Thu Oct 09, 2008 8:44 pm
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As far as I know your IP can reduce the payments back to the original level without calling a variation meeting.
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MelanieGiles

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Post by MelanieGiles » Thu Oct 09, 2008 8:52 pm
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Yes - that is how I operate, and I am sure that your own IP uses similar discretion.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Fri Oct 10, 2008 6:29 am
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We do as well - so don't worry I am sure your IP will use his/her discretion as well. If not place a post on this Forum!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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