I have submitted my payslips and am unable to understand my new amount.
The current total monthly net income shown in your budget is £1,519.46
If this increases by 10% or less, you won't need to make an additional payment into your IVA
So, your net income could increase to a maximum of £1,671.41
If your net income is more than £1,671.41, you will need to make an additional payment into your IVA
The additional payment will be 50% of any net income earned above £1,671.41
My payslip had my pay after deductions of £1,864.84
My payments have gone up from £364.73 to £487.42. I am unable to understand the working out as I thought it would be around 461.44
Additionally to this I have put my expenditure up due to the extra cost of living and never adjusting in the 4 years. Car expenses have gone up as it is 10 years old, Living costs have gone up as I have a hidden disability after my IVA, so improving my diet and such as have been recommended. My rent had also gone up some time ago.
I am failing to see how my new payments have been worked out. I expected £461 at the most, but less with my additional expenses.
Any ideas what I am missing?
