New job?

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Rm555

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Joined: Fri Aug 21, 2020 6:52 pm
Post by Rm555 » Wed Sep 16, 2020 12:14 pm
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What happens with your iva if you get a better paid job? Say it pays 5k a year more than the job you had when your iva was approved?

Thanks.
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Foggy

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Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Wed Sep 16, 2020 1:28 pm
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You will have a review of your I&E and your IVA payment will be increased by 50% of the net rise in income from then on.

It used to be the case that increases were looked at at the annual review following the increase, but, of late, more and more IPs are slipping in an extra review to capture increases earlier.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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