Once a month amount has been set by the creditor

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Meash.rr

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Post by Meash.rr » Sat Aug 28, 2010 5:49 pm
Once a monthly amount has been set by the creditors can it be increased at review time?I have checked my creditors report and it says I have to pay 50% of anything earnt over my initial agreed income. Can they change this?
 
 

kallis3

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Post by kallis3 » Sat Aug 28, 2010 5:55 pm
Hi and welcome to the forum.

Your monthly payment is not set in stone, and will be reviewed every year. It could go up if your wages have risen and your expenditure has not.

The 50% rule usually applies to overtime and bonuses.
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