I rang my IP today to say that I now have a 2nd job and how much would my payments increase to. They said that my payments will not increase until my next review in July 2011! is this right? I don't want to have to cough up a lump sum next year?
Get them to put it in writing, but it sounds ok depending upon who your IP is.
You could always put the second income aside just in case.
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
Hi Sherry,
I asked my case administrator if the income from a part time job, if I took one, would be treated the same as overtime or bonus payments from regular employment. I was advised that it would not be regulated by the 10/50/50 rule, but would instead be classed as excess income and all have to be handed over to the IVA. Whether this is standard or just a clause in my agreement, I don`t know.
Last edited by Goosed on Fri Sep 17, 2010 2:36 pm, edited 1 time in total.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
Thanks for your replies. I have since had a reply from Payplan and they have confirmed in writing that I do not have to pay any extra until next year! Next year it will be the 50/50 rule. Great news me thinks!!
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
