If I chose to drop my working hours to enable a better family/work life balance, will this be negatively looked upon by my IP or am Iikely to be able to lower my payment amount to help with the lesser pay? My husband has offered to help make up the difference so even if I can drop it by a small amount, that will help.
Dropping hours for no pressing reason (in the eyes of the IP / creditors) will not be looked on favourably, though there is nothing they can do about it, apart from refuse to lower your IVA payments.
The IP usually has the discrettion to reduce payments by up to 15% below the originally agreed amount, any more than that and he would have to ask creditors for a variation.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk