I'm due a large payrise of around 9thousand pounds and i have a few questions. Obv i know it has to go into my IVA but do my allowances increase? I've been moved into a management position and need new clothes, shoes etc. But my budgets overall are so low i cant afford for example to replace my bed which is falling apart. I worked very hard for this and i want to be sure i reap some reward. My monthly payments at the minute are 900pounds
You should be able to negotiate a small increase in allowances, as long as they are justifiable. Other than that the increase will mean 50% will go into the IVA, leaving you still a fair bit better off.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
When hubby had a promotion we were able to purchase suits as a one off and had petrol increased as had autuoroute plan showing extra miles. As long as you can justify what you need and why, they are flexible. You need those things for the job, creditors will benefit in the long run. You should be able to keep half so can either save for the bed or ask for a payment break with an offer to repay with your share of your payrise.
