Just thinking ~ what are your thoughts?

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Claire.37

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Post by Claire.37 » Wed Apr 18, 2012 6:42 am
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Just been thinking but is an iva a good way to go if your wages arn't the same each week/month?

How does anyone budget if they dont know how much there going to take home from one week to the next if paid weekly (ok, not many people still paid weekly).

I persume the IVA looks at the person's wages over say 6 or 12 months and gives a average wage but if your wages varies from week to week and substantial declines due to sickness, and lets face it most of us dont get sick pay with our Employers and have to live on the SSP which is nothing....

How do they work out a basic figure on back dated payslips when the future could be totally different?

Just wondering...
Full & Final Accepted 22nd May 2012 :)
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Shining

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Post by Shining » Wed Apr 18, 2012 7:24 am
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My husband is paid varyig amounts each week. We have a basic amount that is for the purpose of the IVA and anything over is treated within the uplift ruling. i.e 10% then 50/50.

My IP woks out the amount and it's notified to me at review each year. It works out fine.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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kev59

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Post by kev59 » Wed Apr 18, 2012 11:48 am
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I get paid weekly and my iva uplift is worked out over 3 months/13week.
As wage can go up or down by £100 or more per week.
the iva payment was worked out on a average wage over 13 weeks.
in my case im happy with the payment set.
IVA now over with and it was worth it.
now starting my life again,
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