I am changing jobs but the pay is a lot less than i get now . I am changing because my job at present is effecting my health. How will this effect my iva payment. Will I get told to pay for iva longer.
Hi Max, this happened to me 12 mths ago when I got made redundant so had to take the first job that was offered. This was a lot less pay too and my IP reduced my payments by 15% immediately without the need to go to the creditors. I have managed to meet the reduced payment for the last 12 mths and luckily have just landed a new and better paid job more inline with my qualifications & experience. When I had my annual review I asked due to the reduction in payment would this extend my IVA and the answer was no. Speak to your IP asap then they can discuss your options. Good luck in your new job and hope this helps restore your health.
Agree with BOL - it could extend it but you do need to speak to your IP for specific advice.
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
