Hi all I'm coming up to month 54!!! I've had a pay rise .. How should it be treated ?

[Mal81]

Hi all I'm coming up to month 54!!! I've had a payrise of £60 a week, do I call GT asking to increase payments by £30 a week? Am I correct in thinking I have to pay 50% of disposable income??? Or do I have to pay all of the £60???

[luluj]

You need to inform them of the change and ask them to reassess for the remaining time in your iva ... hopefully it will be 50% of the payrise

[Lisa Thomas]

Depending on your IVA terms it would usually be 50% of the net pay rise - don't forget tax may be deducted.

[Foggy]

It should be 50% and will be detailed in your paperwork. Check the wording carefully as, normally, permanent pay rises are only taken into consideration at the annual review and any increase effective after such review.