Is there any way to prove 50/50 clause applies ?

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Foggy
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by Foggy » Tue Mar 14, 2017 9:21 pm
Creditors not querying the 50% would be no guarantee that they don't notice 5years down the line and demamd the balance of the "missed " payments.

To vary the agreement will require a meeting. The IP cannot refuse, but if he is minded to he will simply recommend rejection, so it is better to get him on side.
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Michael Peoples
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by Michael Peoples » Wed Mar 15, 2017 9:11 am
A variation would at least provide clarity going forward and as Foggy says your IP must call a meeting within 21 days of your written request. If creditors refuse to allow you to keep any you could forego the bonus altogether and ask for a raise. This extra income could then be used to fund any increases in outgoings so would not be of benefit to creditors.
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