Since my Iva was accepted in April, I cant believe that I am now about to pay my 4th payment. My whole life has turned around completely and am back to my positive cheerful self.
Last week I went for a job interview and have just found out that I have been successful. It means I shall be going from part time to full time so obviously earning more money. Thing is I shall now lose my housing benefit and also quite a bit from my tax credits, so at the end of the day I in fact wont be any better off. I know that some people will think I am mad working more hours than I do now but I am looking at my long term career progression and this is a step up the ladder for me. Will the fact that I will be earning more money but losing out of benefits change what payment I make on my IVA payment.
Firstly, well done on getting the new job, great news!
You are now going to have to work out a new I&E based on your new salary and the loss of benefits. If that doesn't change, then your payments should stay the same.
You do need to inform you IP though about the change in circumstances.
I don't think you are mad at all - you have ambition and that is no bad thing.
Good luck with the new job and let us know how things are going.
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
Congratulations from me too and I do not think that you are mad. You will need to inform your IP but it would be down to them whether to review the case at this time or wait until the annual review. Given that you will not be any better off it is unlikely to affect your IVA but you may have to pay over 50% of bonuses or overtime if these are available in your new position.
