how much discretion does ip have to reduce payment

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chestercity

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

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kallis3

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Post by kallis3 » Sun Jul 04, 2010 11:50 am
I think it's 15%.
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Shining

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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

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Post by Adam Davies » Sun Jul 04, 2010 4:55 pm
Hi
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.
Regards
Andam Davies
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