Following approval, it is possible that your circumstances may change whilst you are in your DPP, in which case the DPP may be varied to accommodate these changes. The steps involved include:
• Your Money Adviser will prepare an updated DPP proposal and present this to your creditors – the same 10% rule described above applies to a variation of a proposal and the DAS Administrator will apply a ‘fair and reasonable’ test, if required.
• If your proposed variation is not approved, then you have a right of appeal, however, you may need to look at other solutions such as a protected trust deed or bankruptcy.
If you experience financial difficulties during the period of your DPP, the following help is available to you:
• You could be granted a one-month payment break, to allow you to pay for an emergency expense – you can have 2 payment breaks in any 12-month rolling period.
• If you need a longer payment break as a result of, for example, illness or unemployment, or an unplanned increase in expenditure then this could be provided for a period of up to 6 months, this type of payment break can be applied for as many times as is required during your DPP provided you meet the necessary criteria.