Variation Experiences

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Dougie

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Post by Dougie » Tue Jul 27, 2010 4:14 pm
Hello all, not been on the forum for a while!

We are 11 months into a 68 month IVA and I have another creditors meeting coming up soon as my IP has had to put forward a variation to my creditors. Long story but essentially we have lost our free child care and have struggled a bit with some of the guideline I&E allowances hence the need for the variation.

The dividend to the creditors is going to drop quite a bit so I wondered if anyone else had experienced this and if so how was it received by creditors?
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MelanieGiles

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Post by MelanieGiles » Wed Jul 28, 2010 2:45 am
It all depends upon the circumstances of the case Dougie, and the justification for the suggested reduction in payments. Creditors these days stick rigidly to CCCS guidelines - although I have had a spot of success this week in getting one creditor representative to support private education costs for a special reason, so at the end of the day I do feel that they can be flexible when they want to be.

Very best of luck with your meeting!
Regards, Melanie Giles, Insolvency Practitioner
 
 

stevedb73

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Post by stevedb73 » Thu Aug 05, 2010 4:41 pm
Dougie wrote:

Hello all, not been on the forum for a while!

We are 11 months into a 68 month IVA and I have another creditors meeting coming up soon as my IP has had to put forward a variation to my creditors. Long story but essentially we have lost our free child care and have struggled a bit with some of the guideline I&E allowances hence the need for the variation.

The dividend to the creditors is going to drop quite a bit so I wondered if anyone else had experienced this and if so how was it received by creditors?

Steve B
 
 

stevedb73

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Location: United Kingdom

Post by stevedb73 » Thu Aug 05, 2010 4:43 pm
Hi Dougie,

I have just a variation and had my payments reduced from £517 to £330 due to a change in circumstances.
Steve B
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