Pay rise query

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mrow

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Post by mrow » Tue Nov 10, 2009 10:25 pm
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Hi all. I have completed the first year of my IVA in September, and now my situation is changing. I have just been offered a new job, with £10k pay rise, and my question is when should I advis Grant Thornton about this? Once I start my new job, or at my annual review in Sep 2010? Checking my documentation, I see that I am liable to pay them 50% of the net increase per month, but is this in effect from when I start my new role, or from Sep 2010 after review?? Many thanks in advance.
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Skippy

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Post by Skippy » Tue Nov 10, 2009 10:28 pm
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Hi and welcome to the forum.

I would let GT know when you know what your take home pay will be, that way you won't get any nasty surprises when it comes to the review.

Congratulations for getting the new job!
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kallis3

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Post by kallis3 » Tue Nov 10, 2009 10:41 pm
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I agree with Skippy - as soon as you receive your first payslip, ring GT up and inform them.
Sharing from experiences of dealing with debt
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MelanieGiles

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Post by MelanieGiles » Wed Nov 11, 2009 12:27 am
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What a great pay rise for you, and I am sure well deserved. If you were my client I would want you to inform me straight away, so give GT a call tomorrow to put them in the picture. It is then up to them whether they complete a review at the start of the new earnings, or leave this until the anniversary.
Regards, Melanie Giles, Insolvency Practitioner
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