how much discretion does ip have to reduce payment

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1


User avatar
Posts: 15
Joined: Thu Sep 23, 2010 8:27 am

Post by chestercity » Sun Jul 04, 2010 11:43 am
...without having to get agreement from your creditors?



User avatar
Forum Expert
Posts: 77170
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sun Jul 04, 2010 11:50 am
I think it's 15%.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am

Post by Shining » Sun Jul 04, 2010 12:53 pm
I think you're right there Jan, I'm sure one of our professionals will be along to confirm. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm

Post by Adam Davies » Sun Jul 04, 2010 4:55 pm
Yes, your IP can reduce your payments by upto 15% without having to go back to your creditors. I think that this may apply to protocol compliant IVAs only though. Your IP can also decrease the payments back to the original amount in the IVA if increases have been due to payrises/decreased expenses.
Andam Davies
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”