www.iva.co.uk

Right, I have just had my (overdue) appraisal and I have a monthly payrise (after tax and NIC) of £25.13 per month. Bearing in mind that my council tax is due to go up by £5pm, my rent £25pm and my heat and light by £27pm I assume that I won't have to contribute anything additional to my IVA?

I also assume that I should notify my IP of this increase in income and expenses. I'm happy to keep my monthly contribution at the same level to avoid any problems.

There has also been an amendment to our bonus scheme at work where I now receive 2% of any turnover over £150k pa rather than 1.75% (this bonus was £3,675 last year - probably be £5,000 this year. I'm paying the relevant amount over monthly as per the terms of my IVA, which I've agreed with my IP - I assume this will still continue?

Hi Cr15py, I had a payrise in January of £88 per month, and I informed Payplan of this, and they never came back to me with any increase, or any response.
I presume they will just review this at my annual review, but with cost of living rising, i don't think we will have to pay anymore over

The payrise should be absorbed by your cost of living increeases, so if I were your IP I would not be looking to take more from you at this stage.

You should be able to offset this increase in income against the increase in expenditure.

You should continue to pay any percentage of bonus / overtime etc into your IVA as per the original agreement.

That's what my IP said as well - they have said that the NPower arrears (refer to previous posts!) should be in my IVA as well and have sent me off hunting for that info as well.

I don't know why I was worried about my IP changing! [:p]