Are benefit payments not classed as income ?

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march82

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Post by march82 » Fri Oct 14, 2011 9:02 am
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entered into an iva 2 months ago and one of the debts was an overpayment in tax credits. today we received an award notice saying that our weekly tax credits are going up by £40 per week. will our iva payment increase because of this or are benefit payments not classed as income??
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kallis3

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Post by kallis3 » Fri Oct 14, 2011 9:05 am
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Hi, benefits are classed as income so you will need to inform your ip of this rise
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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plasticdaft

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Post by plasticdaft » Fri Oct 14, 2011 10:12 am
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I didn't realise tax credit debt could be included in an iva? You live and learn eh!

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Adam Davies

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Post by Adam Davies » Fri Oct 14, 2011 10:12 am
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Hi
An IVA is based on how much ypu can afford to repay each month. Depending on how your IVA is worded you may pay all or only 50% of it into your arrangement
Regards
Andam Davies
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