Hi guys - I posted on here a short while ago regarding a new role I had been offered as a board member on the board of directors. I commenced this role on the 20th September. This is not a new job but an extra role however I do get paid per session and it equates to £657 net pay per month. I found out today that I get paid quarterly for this so my first actual quarterly payment will be 29th December. I had already informed my IVA company of this role by telephone and email but since I had no reply to the email I rang again-today.
Now I was informed during the first tel conversation that this would be looked at during my final review in March ( IVA due to end July 2018 at month 72) but today I was asked to fill in a cic form. When I recieved this it is an income and expenditure form all based on monthly I and E. So I won't get relevant pay slips till December and nor will,my income change until then ( even though I will then recive 3 months pay )- what shall I do ? If I fill this in now before I receive any payment for my role will I expect to pay now or monthly ? If I don't fill it in now am I in breach ?
Also it says a variation may be required and a meeting with creditors but won't this take time and money ? I am trying to pay money in not vary the terms so I am a bit lost what to do .
I have emailed them something similar to this but I still haven't heard from my original email a month ago and I quite simply don't want to breach any terms unwittingly ?
This is all tripe! It is a pay rise, pure and simple and should be taken into account at next review ( check the clause in your proposal to quote back at them). Why a change in circumstances ? Your circumstances haven't changed and there is no need for creditor involvement. Ask to speak to the organ grinder as the monkey is getting confused !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Yes that's what I thought too but now I am a little stressed - I have emailed them saying I haven't had a change in circumstances and I just want to let them know of increase in income so I hope they understand why I haven't filled in the forms
They are clearly taking the extra income each quarter as a change of income using the 'overtime' rule and seeking immediate payment - it looks to me like someone is not reading your very clearly explained email. Keep challenging - as foggy suggests it should be dealt with at annual review time.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Yes than you very much , to my knowledge they haven't read my emails at all as I haven't had a response to thiose which is why I rang and this is a result of the phone call . I don't have another annual review but a final review in March , I will keep pushing I am just worried March will come and there's a possibility I haven't met terms regarding this . Over worrying . Starting to wish I hadn't taken role on the board but it is huge step in my career and I didn't want to miss the opportunity . Thanks again guys for your help
Dawndc28 wrote:Yes than you very much , to my knowledge they haven't read my emails at all as I haven't had a response to thiose which is why I rang and this is a result of the phone call . I don't have another annual review but a final review in March , I will keep pushing I am just worried March will come and there's a possibility I haven't met terms regarding this . Over worrying . Starting to wish I hadn't taken role on the board but it is huge step in my career and I didn't want to miss the opportunity . Thanks again guys for your help
Also the cic form was a tick box ie/ are you in arrears with household bills or mortgage/ are you ill/ have you separated divorced/ lost your job/ taken redundancy/ partner died / pregnant - and since none of these applied I had nothing to fill in
