www.iva.co.uk

Im currently paid every 4 weeks at work. There is a time where i get paid twice in one month because of this. Can this affect my payments or does it go over your yearly income?

Hi and welcome

Usually your IVA payment will be made monthly, so your four weekly wage will be multiplied by 13 and divided by 12 to give a true monthly income figure when calculating your income and expenditure

Regards

so tecnically it shouldnt affect it if it goes off annual income. Its a joint IVA?

I generally find it better when working with clients who get paid four weekly, to take their IVA payments four weekly as well. Psychologically 13 smaller payments, rather than 12 larger ones, can feel a lot more manageable.

We do the same and have clients who pay weekly as it is easier for them. It depends on what the client wishes as there is no difficulty in setting the direct debit payments for any time that is convenient for them.