www.iva.co.uk

Hi,

I am just into my third year of an IVA and have not missed a payment although I have to admit its proving incredibly difficult. I have a permanent full time job with a local authority and so have had my wages frozen for the past three year. I am seriously thinking of working for an agency because agencies offer far higher rates of pay. But what is sacrificed is the permament contract and the pension.

So my question is this. What might be the impact on my IVA of obtaining higher paid work which, whilst I am fairly confident would be consistnet, would nevertheless not be under any kind of permanent contract?

Hope this question makes sense.

Thanks

Any additional wage will have to be split 50/50 until your next review (in most cases), then you will need to justify by means of extra expense and price rises as to how much extra will be scooped up for the IVA pot.

Welcome to the forum. Any change in circumstance should be reported into your IP as soon as it happens. Your proposal document will explain when any increase in earnings is taken into account, ie at review time or as and when they happen...it is vital you inform your IP so that there are no surprises at the review or end of your IVA term.

Good luck with your new employment direction !