At the time of applying for an va my debts amounted to near 30k. The main debt was 19k, since seeing my efforts to become debt free with the iva and keeping up to date with current payments that creditor has reduced my debt to 5.5k, almost halving my initial debts. Will this be taken into account at a review meeting? Will the final amount I have to pay change?
I have asked for a review meeting (at a cost of £300) because my income has been reduced by reasons out of my control.
Will my reduced income and reduced debt reduce my payments?