IVA /NEW JOB

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markss

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Post by markss » Thu Mar 27, 2008 9:21 am
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I have just had my IVA aproved. however if i get a new job with higher salary what % of the increase will i have to pay to my creditors?
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rayb

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Post by rayb » Thu Mar 27, 2008 9:26 am
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Hopefully nothing. With todays rise in practically everything petrol, rent etc etc you can probably offset it against these so you do not pay anything additional
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ianmillington

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Post by ianmillington » Thu Mar 27, 2008 9:37 am
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That will be covered by your proposal and chairmans report Mark, so check those documents. As Ray rightly says make sure you offset any allowable increases in expenditure. If nothing else, ensure you properly account for any extra expenses you will actually incur in connection with the new job.

Ian
Last edited by ianmillington on Thu Mar 27, 2008 9:37 am, edited 1 time in total.
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd)
www.pdhl.co.uk
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markss

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Post by markss » Thu Mar 27, 2008 1:48 pm
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thanks guys for that
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MelanieGiles

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Post by MelanieGiles » Thu Mar 27, 2008 9:59 pm
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Most IVA proposals these days allow you to retain the first 10% of any increased income in any case, so best to check the actual terms of yours to be sure.
Regards, Melanie Giles, Insolvency Practitioner
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