Increased expenditure v Increased Pay Rise

[Sully]

Hi
I just want to clarify something. If you work your expenditure out more realisticly coming into ur second year and it shows that you need an extra £100-£160.00 a month to live adequately (an average, not glamourous lifestyle!) and this shows you why you have been struggling each month and borrowing from family or using the miscellanous money, and you get a wage increase that almost matches the defecit - can the IP make the decision for you not to increase your IVA contributions because of this, or would it have to go to a meeting of Creditors to decide whether or not we were allowed the to keep the extra new money?

I understand in normal circumstances a small wage increase may equal out any increase in utility bills etc and there probably wouldn't be a problem, but I ask the above question because the amount is much higher.
Thanks, Sully

[aguise]

Hi Sully
I would think if you can prove the increased expenditure via receipts etc the Ip is allowed to do this, I am just having my six month review and was told to send bank statement or something to show the rent rise that I have had, so if you can show the increased expenditure I see no reason why not as long as it is for reasonable things.
Wait for other answers though, just my own opinion.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Adam Davies]

Hi
I agree with Ang
Your IP should be happy if you can show that your expenses have gone up and you continue to pay the original figure proposed in the IVA and yes they can make these decisions without a variation meeting.
regards

Andy Davie
IVA.co.uk Spokesperson

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