I have questions re. a payrise i am about to get.I haven't had confimation yet of how much but roughly £100-£150 a month i think.
I have pet insurance that wasn't included in my iva and want to know if i can include it as well as the allowance i have now for pets as it nowhere near covers the outgoing.
My hubby is spending more on fuel costs due to the recent increase,can i raise this now or does it have to wait for the annual review?
The payrise is being backdated to the month of Novemeber.My iva was approved and first payment made in January so can they take the £ for november which was before my iva?
Will i have to pay all the backdated amount over and the future monthly increase or can i keep any of it especially due to reasons above and recent car trouble which needs resolving before my mot!
I have pet insurance included in my IVA so you should be able to do the same.
Most companies wait until the annual review before looking at payrises, but best to run this by them to make sure.
If you are struggling then see if you can get a new I&E sorted now.
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
I had a payrise in October and my case mamanger and head of the review team both advised that my payments will be reviewed at my next annual review in July. When your payments are considered at the annual review, you will only be required to pay the uplift from the next payment (it won't be backdated).
It takes some getting your head around as it seems incredibly generous - hence why I needed to be told twice!
So just inform your IP and be guided by them. Your proposal will also cover off this point, so you could have a re-read.
Mine will be looked at at my annual review, I think that is what the majority of IPs do.
I'd run it by them to make sure.
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
congratulations on your payrise,as it seems quite a substantial rise,i would inform your ip,your extra expenditure will be taken into account,it may be ok to wait for your annual review,but i would check with your IP to be on the safe side.
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
Speak to your IP about the respective increases in expenditure. Once an IVA is in place, IPs can be a little more flexible than creditors over allowances, and so long as something is justified then it should be allowed.
I have a client who has 13 cats and 5 dogs - and she has a much higher pet allowance than other clients for obvious reasons.
Well, spoke to someone in customer services today - apparantly i can't speak to my ip?
I was told all of the payrise goes in to the iva immediately.It does say on my proposal i have to notify them within 14 days but then says any surplus income at the annusal review will be paid so i'm a bit unclear on that one!
I have to pay all the backdated amount in too as that is classed as a windfall.
I asked about changed to expenditure as my hubby does a lot of miles in a day and fuel here is at it's highest ever price.They said that would be considered if i provide proof,also they would consider raising the pet allowance but it may still be refused.
Tosh! Exceptionaal payments like overtime and bonuses are dealt with as and when, a rise in regular income is dealt with at the review and payable ( subject to alterations in expenditure) from then on, until the next review.
Might I ask which firm it is that protects the IP from the client (sounds like mine TBH).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am with Dfd.I wasn't too impressed to be honest with the service.
I said i would like to discuss changes to income and expenditure.....the response was 'why what's happened?'
Not too clear in the proposal,in one way it looks like i pay the extra over straightaway then two paragraphs down it says it's done at the review.....it takes so long to get through on the phone too i was thinking no-one would ever answer!
The difference, I suspect, is that the first paragraph refers to exceptional payments (odd overtime and bonuses) and the second to regular increases (regular overtime and payrises --- what are those??).
I am with RSM, like you I find it impossible to speak to my IP, but, luckily so far, the support staff have been very helpful and know what they are doing.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Rayb - that link isn't working at the moment, it's still down.
You should be able to ring up and insist that you speak to your IP. I believe that they have to let you.
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
