Reduction in hours (reduction in payments?)

[Coffee Break]

Hi,

Hope everyone had a good Christmas and New Year, been a while since I've been on the forum, [:I]

I was just wondering if anyone has had any past experience that could help me with my query. I'm having to reduce my hours at work (due to childcare) not much, but enough to lose a little income due to these change in hours.

Firstly I was wondering, if, by the change in circumstances with having less pay can it be agreed solely with the IP (do they tend to do a 'discretionary' without having to have another creditors meeting)? I have looked at my paperwork, but it seems to relate more with redundancy and not a reducation in hours etc.

Would it involve having to do another I&E (mine isn't due until July), I presume so since to go through everything with a fine toothed comb?

Any posters with any insight, I would be glad of any advice. I have spoken with my IP, but was just trying to get a feel for anyone on here that can shed some light in the meantime, as you're all so lovely [;)]

Thanks!

[plasticdaft]

Ips can often reduce payments by 15% without holding a meeting of creditors so thus option should be looked at firstly. A new income and expenditure would be required.

Paul

[Coffee Break]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft

Ips can often reduce payments by 15% without holding a meeting of creditors so thus option should be looked at firstly. A new income and expenditure would be required.

Paul

Hi Paul, thanks. I was trying to see if that applied to me, but couldn't see anything relative to that in my paperwork, so really don't think that'll apply to me, but I am hoping my IP will be getting back in due course regarding this matter, so we shall see...

[Niobe]

I'm sure that if your IVA is protocol compliant that your IP will be able to reduce your payments if needs be.