www.iva.co.uk

I about to come up to my lst year review. I have - £38.00 less per month than I did last year. I currently pay planplan £175 per month will they fail my iva or any chance of them reducing the payment?

Hi,

You need to speak to Payplan about this as you are already making a lowish payment. It could be that they can lower the payments but it might mean them extending the length of the IVA.

Hopefully one of the professionals will be along to advise further.

They should have discretion to reduce your payments by 15% without the need for a creditors meeting, so that would go some way to helping. If you need to reduce the payments even further this will need the sanction of creditors at a creditors meeting.