Hi all me again
I have been accepted for an iva and making my first payment next week . I have seen a job which is perfect for me but it is a drop in wages by 2000 a year . What will happen to my iva re this ? Just want to know before I apply for the job.
Thanks
Any change in income would need to reflected in a new income and expenditure calculation ..your IP will want to ensure your IVA is maintained as close to the agreed dividend as possible .... good luck with your application!
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
If the drop is wages is offset by savings in travel, childcare etc this may be a great move for you. If there is a drop overall your IP could reduce your payments by 15% otherwise he/she would need approval of creditors.
Have a word with your IP and see what they advise.
