Morning all
We are currently with payplan and have just successfully completed our 2nd annual review. I'm just abit confused with the new changes that payplan have put forward with regard to payrises and just wondered if anyone can help. We were informed that the supervisors have decided that all customers have to inform the company of any payrises including the annual one asap instead of at the annual review, to make sure the iva is running smoothly and increase payments if the need arises. We are propbably due an annual payrise in april, which will mean our payments to the iva will be going up slightly then, which is ok. My question is though what about all the bills that will go up following this and our son goes secondary school in sept which will add on alone around £60 of expenses a month which then would mean us probably going for a variation meeting to bring the payments back down, as it will be more than our 15% I can understand them asking for this if it was a huge payrises but when its just inflation it seems a little harsh and far much work and telephone calls. Not even mentioning the added stress. Sorry for rambling on. Moan over x
I know how you feel Struzzo - we have our annual review in April although it will probably be done before then.
You can only put down your actual I&E and be guided by what your caseworker says. Hopefully you will be able to keep all of it.
I would also mention the fact that your son will be going to secondary school and this will entail extra expense. They will probably tell you to wait until you know exactly how much extra it will be - we're currently having to do that with hubbys state pension and income tax on his occupational pension and, even though we informed them last year of the change, they will do nothing until we get actual figures.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Another thought, is if a deduction in payment to the iva is needed is the 15% ruling on the initial iva payment or what it may currently stand at if the payments have been increased??
Not sure on the 15% thing Struzzo,I would imagine it would be 15% off the initial repayment figure.
Remember if your company want to know about payrises outwith review times,make sure they know about increases in expenditure outwith review times as well,they cannot have it both ways.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
This is one of the goalposts Payplan seen to have recently moved. Generally, in PC proposals, there is a clause stating that an increase in pay during the year will be taken in to account at the review and 50% of the net increase ( after offsetting any allowable increase in expenditure) will be payable into the IVA one month after the date of the review. NOT back dated to the date of the payrise!
Several Payplan clients have told me that this is what Payplan were doing until recently, when they decided to back date rises, much to the surprise of clients who, having been allowed to keep the money previously. have spent the extra!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am with payplan and my agreement is as stated by foggy being one review per year and 50% of surplus will be payable one month after that review.
So I guess my question is where would you stand if that is what you signed and agreed to and they now try to change?
I would like to add that I have seen quite a bit of negativity on paypkan recently however I know I have only just started my journey but have had no problems with them. Long may it continue is all i can hope for I guess.
Counting down the days to being debt free even though it is still early days for me
We were always told that we didn't need to inform Payplan about any rises until the review. I k.ow I won't be getting one anytime soon but in future I'll be straight on the phone to.them
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi jan.
No I don't think I will either being public sector. I scan my pay slip every month and send it off so that I won't have any nasty surprises.
Interestingly I only started in October and was told I would only have to tell them at annual review about any pay rise and it would only change payments after that review by 50% of increased surplus.
Would be interesting to know where payplan would stand though if what is stated in the agreement about being confirmed annually and they are not abiding by it. Purely out of interest as I say as i am not likely to get any pay rise in the foreseeable future.
Hope you are able to resolve your situation with them too in a mutually agreeable way. X
Counting down the days to being debt free even though it is still early days for me
Come on Nik ... we are getting 1% next year, so with pensions going up and inflation, we will only be around 7% down ... what will we do with all that money (we haven't got!).
Always look on the bright side of life ..doo do .. d'do, d'do, do-doooo
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks nik. I shall be sending an email to my casworker over the weekend with an update on things.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Foggy - you do make me laugh. [:D] I like the way the big wigs at the top continue to get rises and us mere mortals continue to get byggar all. But we must be thankful and grateful to get 1%
I have to laugh as I won't cry over it that's for sure!
Jan - keeping my fingers crossed for you.
Have a great weekend everyone xx
Counting down the days to being debt free even though it is still early days for me
Foggy - did you sit there and sing it to yourself to work out how many do doo's to put in??
Glad is all going well so far for you Nik - as you say, long may it continue.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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I have been lucky enough to gain a pay rise through promotion but to be honest it has nearly been more trouble than it is worth.
I have just completed I & E for 3rd review and it has not started well. I was sent an email saying that I had not replied and I was not sticking to my arrangement the same day as I first heard from them and had contacted them asking if they could email the form for my completion.
I just feel they do not care now and are working against me. It is really getting me down at the moment. Not looking forward to the outcome
