Page 1 of 1
Posted: Fri Oct 14, 2011 9:02 am
by march82
entered into an iva 2 months ago and one of the debts was an overpayment in tax credits. today we received an award notice saying that our weekly tax credits are going up by £40 per week. will our iva payment increase because of this or are benefit payments not classed as income??
Posted: Fri Oct 14, 2011 9:05 am
by kallis3
Hi, benefits are classed as income so you will need to inform your ip of this rise
Posted: Fri Oct 14, 2011 10:12 am
by plasticdaft
I didn't realise tax credit debt could be included in an iva? You live and learn eh!
Paul
Posted: Fri Oct 14, 2011 10:12 am
by Adam Davies
Hi
An IVA is based on how much ypu can afford to repay each month. Depending on how your IVA is worded you may pay all or only 50% of it into your arrangement
Regards