Here is an example of how a debtor applied to the courts to make reduced monthly payments. The court agreed with the debtor and approved that they should pay £56 per month on a debt of £13,000.
The creditor did not agree with this and submitted to the courts that they redetermine the claim, as the creditor wanted more than £56 a month.
Here is a copy of the ruling of the hearing:
“General Form of Judgment or Order
In the Weston-super-Mare County Court
Claim Number 123456
Date 25 May 2012
SANTANDER CONSUMER (UK) PLC TA SANTANDER CONSUMER FINANCE
MR JOE BLOGS
Before District Judge Corrigan sitting at Weston-super-Mare County Court, North Somerset Courthouse, The Hedges, St Georges, Weston-super-Mare, BS227BB
Upon reading a letter from the claimant, hearing the Solicitor for the Defendant
IT IS ORDERED THAT
- The application to be redetermine is Dismissed
- No further order as to costs.
Dated 18 May 2012″
So the end result is that the debtor will only pay £56 per month, which for them is manageable.