My partner is concerned about paying more into IVA on accepting job offer

[Sam.87]

My partner is concerned if he would have to pay more into his IVA, as he has been offered a job for which he has been offered £6000 more per annum. He is already paying £200 per month into the IVA which is due to finish in May 2015. Will the payment period agreed on, be extended if he is earning more ?

[Shining]

HI and welcome to the forum, an IVA payment is based on disposable income so it may be he has added expenditure to go alongside his new position but equally with more disposable income he may be expected to increase his payment. worth talking to his IP as some wage adjustments are dealt with immediately others not until annual review all companies vary.

When the IVA concludes in May 2015 the whole increase plus your £200 payment will be his to do as he pleases.

[Adam Davies]

Hi

There should be an incentive to better yourself at work so I would expect that only 50% of any increase in your partners disposable income will have to be paid into their IVA

Regards

[Michael Peoples]

He should check his proposal and possibly speak to his IP because he may have nothing extra to pay or they can reach a reasonable compromise.

[Sam.87]

Thanks for your responses I will get him to talk to his ip and take it from there