Just completed 12 months in IVA.

[Shane.hw]

Just completed 12 months in IVA and sent in relevant info to IP, wage slips,p60 etc,No change in terms of agreed amount per month .Wife is in the process of increasing her hours from 30 to 37 on a temporary basis.Would it be advisable to contact my IP to make them aware of the changes?

[Shining]

Hi well done on first review. I would inform your IP as it's always best to keept the IP in the loop to avoid any surprises at next review. x

[MelanieGiles]

Yes you should definately advise of the change in circumstances, as you may need to increase your payments in the period where she is getting the higher salary.

[luluj]

I would speak with your IP and let them know, but would also make sure they know it is only a temporary increase and that it will return to normal after a while - ensure your payments will go back down afterwards !

[back on track]

is your wife in an iva too.
if not,its only if her basic salary is increased permanantly that they would need to know.if its overtime then thats her's to keep.

[heywoodshane]

Thanks for the replies.Yes we are both in the IVA.I will contact my IP once her hours have been increased.As everywhere is looking at effieciency proposals my wife is also due to lose her essential car user scheme which is around £100.Will this be taken into consideration in the I&E and will a meeting be set up with creditors to make them aware?

Thanks again,such a valuable site for information.

[back on track]

yes every outgoing needs to be put down whether its up or down and if your going to lose £100 then this should be offset by any income increase.just let your ip know and you should not be any worse off.yes its a brill site and even if us mere mortals get some bits wrong then the ips who give there time on here will put it right.if you use the site a lot you to will pick up valuable info and be better off as the iva term goes on. stick around[:D]

[relieved33]

I had a temporary increase in salary earlier in the year and let our IP know. I sent the letter saying it was only until August and worked it out as an overtime calculation. At our annual review in July we just went to my basic salary when filling in the new I&E.

[relieved33]

meant to add that I think the best piece of advice I've had from here (and I've had lots!!) is to keep in contact with your IP over every change. Many times I've called and it's been logged but really there's been no issue at all.

My theory is that if someone is to help me then they need as much information as possible - and I certainly wouldn't want to do anything to jeopardise the IVA - or end up with money owing when it comes to my annual review.

[heywoodshane]

Thanks for the info relieved33.I will contact my IP once my wifes increase in hours has been confirmed.The last thing I want is to have an extra amount to pay for not informing them of any increase in monies!

[kallis3]

Always best to keep your IP in the loop.