Hi all hope you are well .Recentley had my review with ebenegate who increased my payments from 353 to 388 a month .I have just had a small salary increase of 100 per month.What happens now I know I need to advise my ip now rather than wait for the next review next feb .What will happen ? Will they just take this full 100 off me or will I be able to keep any ?
A permanent pay rise is to be added to your regular IVA payment by the amount of 50% of the net increase (so --- what actually hits your pocket). Traditionally these things have been taken into account at the next annual review following the pay rise and, in the meantime, all of the increase would be yours. However, recently, some IPs have been introducing interim reviews to capture the increase right away --- but, in any event, they are still tied to 50% of the net.
Now ...Ebenegate seem to do things their own sweet way and appear to pluck figures out of the air, either from avarice or from not understanding the terms. So do get them to validate any changes they make and do not be afraid to challenge them.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for your useful advice yet again foggy .The annual review went without hitch but they picked up on lower energy bills than the agreed allowance .I was thinking of just putting this to one side and waiting for the annual review next year see what the outcome is .I know I wont spend it as im very carefull and dont want any nasty surprises at the next review.I feel if I tell them now it will mess all the figures up .I will have a ponder on it
