Where? It says "such as a significant decrease in the consumer's income". But that is just an example. If the consumer has taken on another $250,000 in debt without a substantial increase in income, that is just as much of a problem. Can you suspend solely on the credit report - probably not, but it is the first stepping stone.
7. Material change in financial circumstances. Two conditions must be met for §1026.40(f)(3)(vi)(B) to apply. First, there must be a “material change†in the consumer's financial circumstances, such as a significant decrease in the consumer's income. Second, as a result of this change, the creditor must have a reasonable belief that the consumer will be unable to fulfill the payment obligations of the plan. A creditor may, but does not have to, rely on specific evidence (such as the failure to pay other debts) in concluding that the second part of the test has been met. A creditor may prohibit further advances or reduce the credit limit under this section if a consumer files for or is placed in bankruptcy.
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