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Posted: Fri Feb 03, 2012 2:56 pm
by Jess.ld
Hi,
I am curently in an IVA and am shortly starting a new job with a substantial pay increase. I have worked very hard for this and I am worried that I will be expected to pay all the additional income in to my IVA. Can anyone confirm if this will be the case? thanks.
Posted: Fri Feb 03, 2012 3:08 pm
by Hyperdrive
As far as I know you`d have to contribute half the increase
Posted: Fri Feb 03, 2012 3:10 pm
by kallis3
Hi and welcome to the forum. Well done on getting the new job.
You will need to speak to your IP company and inform them of the change in circumstances and possibly submit a new I&E but hopefully you will be able to keep some of it.
Posted: Fri Feb 03, 2012 3:59 pm
by Nick Payne
Hi Jess welcome to the forum and congratulations on the new job. It usually depends on your proposals and what they state happens in this instance, speak with your IP and find out.
Posted: Fri Feb 03, 2012 4:09 pm
by Michael Peoples
It is possible that this will not need addressed until the annual review and then only 50% after allowing for increased costs of living. Check your proposal and you can always double check with the IP.