If my annual reviews are in October but I have had one in May this year due to change in job (gave them copies of my wage slips going back until Nov 08 to May 09 and new I&E- so basically I am reviewed until May this year) will my IP still do a review in Oct this year or will they move it until May next year????
Can anyone advise who has had an ad hoc review mid year what happened to them or one of the experts?
They may well still conduct a review in six months time, perhaps it would be an idea to contact them and ask.
I know I have to submit payslips every three months with mine and presumably if I had a huge rise, my payments would go up.
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
Yes I have just upped my payments by nearly £300. Thinking about it though i would guess that would still do an annual review as that is when they have to the Annual Creditors Report...I don't mind either way..just wondered. I very much doubt my wages will go up again this year so a review in October would just be a formality unless any of my I&E changes.
October will be end of 3rd year....it has gone really quickly. Although I have made myself more comfortable with my extra income I keep thinking that once I have completed I will have have over £700 quid a month extra...will be soo nice. Being in an IVA really makes you appreciate money and its worth...an invaluable lesson. One thing i do know is that I would never ever get myself into the same situation as I dont want to ever go through this again.
Great news that you are so far in. I'm sure the next two years will sail by!
What a wonderful thought as well that you will have all that money spare. We will have over £600 as well and I can't wait.
No way will I ever let us get into this position again.
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
When I enquired about my a pay increase with my supervisor I was told this would be picked up a my annual review for the following year and my payment then changed.
Seems strange that you had to have a mid year review.... unless your extra wage is coming from bonus or overtime?
Last edited by Adam16 on Sat Jul 04, 2009 12:37 pm, edited 1 time in total.
It possibly varies from IP to IP. Last year, we did not have to supply any payslips until the annual review. Now we have to supply them every three months. My hubby has just had a rise in his pension, but our payments have not increased.
I will get a payrise in September, so it will be interesting to see if it affects my payments.
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
Going back to my review...I did get in touch with my IP and said that i was starting a new job and that I would be picking up an extra £700 a month more..I&E would go up a bit but there was still way over £500 extra month hence the recent review. If I had kept my mouth shut and not mentioned it until my review I think I would be taking the pee if i expected to keep all the extra money I earned (over £3K - don't think I would have got away with that)...I think a normal payrise of say £50 would be ok but anything substaintial then you would have to pay over. I have had small payrises before and it is only on my review when they have recalculated my payment.
Any experts out there - what do you think? Hope I haven't done myself out of money by declaring my payrise straight away.
Last edited by Busybee on Sat Jul 04, 2009 2:25 pm, edited 1 time in total.
Totally right to have informed them as it happened - as it was s significant rise you quite rightly should pay more to your creditors as it happens rather than at your review time.
We had similar happen to us and we had a mid year and annual review - even though our income had gone up by £3k a year our payments did not as the cost of living had significantly increased and I had moved jobs to a different area and my petrol was alot higher - it pays to be honest as and when things happen then there are no nasty surprises !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I will be due a rise in September, I shall let Payplan know and we'll take it from there.
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
yes substantial pay rises like yours should be reported to your ip promptly, you have been a busybee £700 a month rise wow your creditors will be pleased.good luck honey[^]
Last edited by MRBLUESKY on Sat Jul 04, 2009 4:56 pm, edited 1 time in total.
Thanks Ronald,
I actually changed jobs...resigned after being in my current job for 22 years...a bit of a leap of faith, but so far so good...no regrets.....after upping my payments get about £300 a month extra for me which is luxary compared to before when I was living hand to mouth...so nice to think I can save a bit, having said that car just cost £400 to get through MoT...but if i hadn't of changed jobs it would have been panick stations and a word with my IP to get a payment break...so can't grumble...just makes things a bit more comfortable.
I hope it continues to work out ok for your Busybee.
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
Thanks for your best wishes Kallis..all the best to you as well. Just keep dreaming of the day when I have completed. It has been quite hard for me...nobody and I mean nobody knows about my IVA...the stress has been really bad at times...hopefully things will improve from now on.
I am fortunate that I have my hubby who I can offload to if I wish (we are both in an IVA) and the forum. I really don't know how I would have managed if I hadn't found it.
Don't forget that any problems you have, any support you need, we are right here.
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
