HALF MY SALARY INCREASE ?

[Jinx]

Hi PM5,

I have just been through a similar situation... I took a new job with a competitor and had a significant payrise. I informed my IP or IP's office at least they sent me out a new I&E form. I completed it honestly and accurately including my increased expenditure on fuel etc my payments did increase slightly but were still within the 50% of disposable income.

I'm with Accuma, I have only had one member of there staff try to suggest I may be cutting corners on my payments... he wont do that again! generally I find them really good, as long as you appear honest!

[pm5]

Thanks jinx, when i spoke to my IP office they made me feel guilty but all i was trying to do was be honest & sort out everything properly.

[Jinx]

Thanks jinx, when i spoke to my IP office they made me feel guilty but all i was trying to do was be honest & sort out everything properly.

Its because the adviser's dont really understand your position... they are lacking in "empathy" I think thats the right word.

If your not happy... make sure you get their name and write a strongly worded letter to the MD. It always goes down well!

[pm5]

Well ive just written another letter out to the joint supervisor explaining in detail along with an I & E update, incidently my expenses are very very basic so they cant expect something i aint got can they.
I just want to start my new job knowing everything else is sorted, not much to ask is it ?

[Adam Davies]

Hi Mel
Yes he has spoken at a couple of debates,always puts a good point forward and comes from a large IVA provider
Regards

[pm5]

Lets hope then Andy if i have to contact him he will be more reasonable than the way the office staff seem to be !

[Adam Davies]

Hi
He wll give you a difinitive answer and I guarantee will allow for the extra expense before splitting the surplus.
Regards

[MelanieGiles]

Andy - I don't think he does come from a large provider, I think he has his own small practice.

[pm5]

Hi Mel he is my IP through Clearstart !

[MelanieGiles]

How strange, as on the Insolvency Service's website he is listed as having his own practice.

[louisa.s]

Just wanted to say that when Hubby got a substantial increase at the beginning of the year I sent a letter to our IP (Grant Thornton) advising them of our change in circumstance along with an amended I&E and the letter detailing why we had increased our expenditure in certain areas and why we had added certain bits like dry-cleaning (hubby has to wear suits all the time) and then with the surplus from our income voluntarily added it to our monthly contribution. I put in the letter that if they had a problem with any of it then to get back to me otherwise we would assume that they have accepted the new I&E. They never got back to me.

Hope you get something sorted.

[ianmillington]

It will depend on what the proposal and (importantly) what the modifications say.

The "50% of net increase" provision is a recent thing, introduced by Grant Thornton 6 months ago. prior to that, it was quite commonplace for the creditors to require 50% of any increase in take-home pay to be paid into the IVA. The current TiX overtime modification whereby you keep the first 10% and then have to pay in 50% of the remainder is a variation on that theme.

So check your proposal and Chairmans Report. It may be that the IP has no discretion on the issue.

Ian

[batawi3]

Apologies for the long postI am in a similar situation, I was working part time last year due to stress and this time went back to work full time. My original IVA was agreed using my full time salary. Now that I have gone back to work full time I am only earning what I earned initially. My IVA company have viewed this as a salary increase, despite me highlighting that the only way I could afford paying into my IVA last year was because I modified a lot of my expenses (in a nutshell) cut them to ensure I did not miss any payments. Well surprise surprise they have now told me that I am not complying with my IVA as I had to pay 50% of extra income so I should make an immediate payment of £1344 as a one off payment or 12 monthly paymens of £109.00 on top of increasing my monthly payments from £300 to £360 so I basically need to find an extra £169 each month. I have challenged them about it as I also have increased costs, travel and after school club child care, and these I have been paying since APril 2007. these two costs amount to an extra £234 each month as my college relocated and I now have to buy a weekly zone 1 and 2 travel card, plus my son's after school club is £127 a month. Well the assistant told me that these costs would only apply from this year and I asked her why because these were expenses I incurred from last year, and if she took that into account then she would find that I in fact did not have an extra £218 each month last year as I was paying those two bills. I am now considering filing for bankruptcy should they insist. My questions to them were where did they expect me to find an extra 109quid each month when they had worked out that my monthly disposable income was £360, furthermore where did they expect me to get it since I am not allowed to enter into any debt or borrow money from anyone?

I am still waiting for a response, every time I call the Supervisor is never in or they filter my calls. I am now in my third year and am stressed about this as I clearly do not want my IVA to fail, but on the other hand I am not willing to pay more money than I have as I am struggling at the moment with two kids on my own.

[MelanieGiles]

Who is acting for you and have you tried to speak to the Supervisor directly. If they refuse to put you through you could try e-mailing him directly and use a delivery and read receipt to ensure you know he has received your message. I would also recommend a face to face meeting with him in order to sort this matter out.

[pm5]

Hi Ian I have checked my agreement & it states as follows:
50% of Overtime/Bonus/Commission >
A full review of income & expenditure will be undertaken annually, this must include a copy of the debtors latest P60 with payslips for the 3 months immediately prior to the review.The supervisor will determine whether any increased contributions can be made & if so must commence the following month.In addition to the monthly contributions, the debtor will be solely responsible for paying 50% of any additional income above that quoted in the proposal.

Thats what is written but as a few of us on here have agreed that extra expenditure must be taken into account first.