Second Job

[Jakes]

If I was to take a second job (weekend job etc) would I be ok to pay the 50% as if it was overtime or would they class it differently and change the monthly amount i have to pay (i.e. would they see I earn an extra £200 a month and want another £200 a month)?? Would be nice to have an extra few pounds for the family (and creditors if they get 50%) especially if I don't get any overtime some months, but I need to know its worth it? Thanks

[plasticdaft]

Talk to your IP to confirm their stance on this matter,most I would assume would be happy to let you keep 50% or there would be no incentive for you to go and earn extra!!

[Adam Davies]

Hi
Agreed,lets hope that common sense prevails
Regards

[MelanieGiles]

I would allow the first 10% to be kept and then a 50/50 split of any balance - which would give you some incentive to go out and earn that extra money, and creditors the opportunity to share in your fortune.

[Jakes]

Thanks, But what about if I've had the second job for a year or so then at my review they see I earn more, therefore can pay more, will they then try to make me pay more than 50%f (i.e. see it as part of my income instead of an extra income)??

[MelanieGiles]

Did you have this source of income at the time that your IVA was accepted? And, if so, why did you fail to declare it at the time you started the job?

[Jakes]

I have not started the job yet, I'm just thinking about it and want to know if it is worth doing.

[MelanieGiles]

Then I would discuss this with your IP first to see whether it is worth doing all those extra hours to only get about half the reward.

[andrewgoodman121]

Hi Jakes,
Im in an IVA myself and have been for 10 months.
I had a second job last year pre IVA and even though the extra money was good ,most of it went to paying off creditors and Bills and extra for myself.
The reason i went for the IVA was to free me from doing all these extra hours and having a life for my Family and myself.
Believe me once you start a second job it soon becomes routine and you find yourself relying on the extra income.
If you are thinking of doing it while you are in an IVA you will have to give up 50% to your IVA and so is it it worth doing.
It may be nice having the extra for yourself but BELIEVE ME!!! it will affect your health and your life will be constant work and you will soon start feeling the strain.

[Jakes]

Yes I know what you mean but the thing is I only work 3 nights a week (12 hour nights) so I am free for the rest of the week and think I could still do a sat job or something and have time for the family etc. I will obviously have to see how it goes, Hopefully after a while my wife will be able to leave our new baby and go to work so I wont have to do 2 jobs but the extra money would come in handy even if its only 50%.

[MelanieGiles]

What a sensible attitude Jakes, where you are prepared to go that extra mile to ensure your IVA continues. Your IP and your creditors should be very grateful that they have such a committed client and customer. A lot of people would just throw the towel in.