What if debtor's financial circumstances change after the commencement of his Debt Repayment Plan ("DRP")?
The debtor or the creditor should inform the Official Assignee ("OA") of any change in the debtor's financial circumstances, particularly where the change may affect his ability to comply with the terms of the DRP. The OA may then consider modifying the DRP. This is on a case-by-case basis.
The debtor's creditor(s) will be informed of any changes in the debtor's circumstances that may affect the debtor's ability to fulfil the terms of the DRP.
Related questions
Can creditors still take action against the debtor after the commencement of the Debt Repayment Plan ("DRP")?
How and when will the debtor be informed that he can commence the Debt Repayment Scheme ("DRS")?
How will a creditor or a member of public know if a debtor is under the Debt Repayment Scheme ("DRS")?
Do I have to repay my creditors before commencing the Debt Repayment Scheme ("DRS")?
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