Info needed regarding pay cut and discharge

retracelondon

Hi all

My company has informed us that they will be imposing a 15% pay cut effective from the end of February, to stave off redundancies. This is a massive pay cut and my monthly take home will drop around £400 per month. I currently have a payment plan whereby I pay £375 to Clarke Willmott. I would like to negotiate a lower monthly payment. How do I go about doing this? Should I contact Clarke Willmott? Does this involve me doing another SOA?

Also I was discharged in January. Should I automatically be sent some documentation confirming this or do I need request it as I would like to start cleaning up my credit file.

Thanks.

dalip

retracelondon wrote: »

Hi all

My company has informed us that they will be imposing a 15% pay cut effective from the end of February, to stave off redundancies. This is a massive pay cut and my monthly take home will drop around £400 per month. I currently have a payment plan whereby I pay £375 to Clarke Willmott. I would like to negotiate a lower monthly payment. How do I go about doing this?give your original OR a ring and request a new IPOQ Should I contact Clarke Willmott?no Does this involve me doing another SOA? just a i&e sheet

Also I was discharged in January. Should I automatically be sent some documentation confirming this or do I need request it as I would like to start cleaning up my credit file. No,you can check the IS website but if you require any doumentation it will cost you £60.

Thanks.

Hope that helps.Dx

deedee_3

retracelondon wrote: »

Hi all

My company has informed us that they will be imposing a 15% pay cut effective from the end of February, to stave off redundancies. This is a massive pay cut and my monthly take home will drop around £400 per month. I currently have a payment plan whereby I pay £375 to Clarke Willmott. I would like to negotiate a lower monthly payment. How do I go about doing this? Should I contact Clarke Willmott? Does this involve me doing another SOA? Yes give them a call and and tell them what is going to happen. They will send you the new SoA form.Fill it in and send it back and they will either reduce or suspend your IPA. If it is suspended then these suspended months count towards the 36 months of the IPA. If you pop up your SoA before you send it back someone will check it over for you. Don't forget to send it back recorded so that you know when it arrives and it has been signed for. Royal Mail have been known to loose things.

Also I was discharged in January. Should I automatically be sent some documentation confirming this or do I need request it as I would like to start cleaning up my credit file. Give your OR a ring and ask him to send you a letter saying you are discharged. Or you can pay £60 and get an official one from the court, but the OR letter is usually suficient.

Thanks.

Hope that helped you a little bit.

retracelondon

Thank you ever so much for the useful advice. I'll call the OR first thing in the morning so that I can hopefully get it sorted before the payment in March is due.

Many thanks.

retracelondon

I finally received the letter stating that I have been discharged. so now I can get to work on cleaning my credit record. Wha-hey!

After a couple of phone calls regarding my pay cut, they have emailed me a new IPO form to complete, which is slightly different from the one I completed when I was made BR last year in January. Has anyone ever been through having their payments adjusted for some reason? I'm worried that for what ever reason figures that I gave on the orginal form (e.g. groceries, clothing etc) and now intend to give again will be viewed as being too high and may be decreased.