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.
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.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
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.
Hi, my name is Nick Payne and I am an Insolvency Practitioner with Payplan.
Read the Payplan blogs by visiting our website www.payplan.com
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.
