if the next job pays a lower salary?

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spm

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Post by spm » Fri Apr 18, 2008 11:10 pm
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I am currently in an IVA but have resigned from my job due to various circumstances.what happens if the next job pays a lower salary?Is there another review and does the 5 yr period extend?
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Lisa2009

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Post by Lisa2009 » Fri Apr 18, 2008 11:44 pm
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Hi and welcome.
Have you informed your IP of your resignation?
If you secure another job that pays less, your IP could call a variation meeting and ask your creditors to accept a reduced dividend or extend the term of your IVA.
Beware that if your IVA falls 3 months into arrears, your IVA will fail.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


Nil carborundum illegitimi
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