my basic salary has decreased

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sharron_

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Post by sharron_ » Mon Oct 29, 2007 11:59 pm
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Im just about to change jobs and my basic salary has decreased slightly from 23k to 20k plus commission paid monthly (to which they will obtain 50% of this)which I wont know how much this amounts to for a while. How complicated is it to have the monthly payments reduced to allow for this decrease, or should I just struggle on paying what the current payment is at?
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MelanieGiles

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Post by MelanieGiles » Tue Oct 30, 2007 12:00 am
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Hi Sharron

If your basic salary has reduced, this needs to be taken into account before your IP starts grabbing 50% of your commission. If you are unable to service the IVA payments at the current level, you should contact your IP for advice as to whether you can reduce them temporarily or whether a creditors meeting will need to be called to consider this further.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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