We have interlocking IVA's and sums paid are obvously calculated on what we can afford. Our tax credit (which was minimum) will shortly stop and also my child benefit for my eldest has ceased - so all in all we are worse off by approximately £80 - £100 per month, however my son still lives at home and of course the expense is still the same as it was. When our annual review comes up - is it likely that they will take this into account or do you think that our repayments will stay the same as they are now (which will be very hard to manage). Any advice would be greatly appreciated.
If your son is still at home creditors would expect him to be making some form of contribution to the household expenses. If this is not possible you would need to explain the reasons to your IP and it may be possible to have the payments amended for a short time.
In the longer term he will be moving out, going to university, finding a job etc and your I&E would be reveiwed again at this time.
My son is still at college - but unfortunately he is not entitled to ema, nor job seekers and he has tried to find part time work but to no avail. He can't contribute to anything because he doesn't have any money - in fact we will have to contribute even more towards his keep as he won't even be entitled to free travel.
Your IP may be able to reduce your monthly payments by 15% depending on the actual proposal without needing approval of creditors. Any larger reduction would need a variation so obtain evidence of your son's situation and provide it to your IP. Hopefully it can then be sorted out.