Present job is looking shaky. Expenses of new job will be more than additional pay.

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Blueboy

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Post by Blueboy » Mon Mar 16, 2015 10:27 pm
My present job is looking shaky and the opportunity has arisen for me to change jobs.Although I will be paid more I will.need to travel an additional 25,000 miles a year to my new place of employment. Petrol tyres and servicing will.use more than the additional pay will.i be expected to pay my any of the additional.salary into the iva. I ask because if I do I am unable to take the job.
 
 

Foggy

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Post by Foggy » Mon Mar 16, 2015 10:31 pm
You will need to discuss this with your IP -- extra expenses can be used to offset the increase in salary, but will have to be proven and agreed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

lifenoteasy

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Post by lifenoteasy » Tue Mar 17, 2015 8:08 am
I can only echo what Foggy has said except a thought - most IP's have the discretion to vary the amount each month by up to 15%.

If the maths works out you may end paying up to 15% less each month as a result of the changes you may be ok.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Adam Davies

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Post by Adam Davies » Tue Mar 17, 2015 9:05 am
Hi

common sense should allow you to increase your expenditure to cover your additional travelling costs

Chat this through with your IP and good luck

Regards
Andam Davies
 
 

Lisa Thomas

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Post by Lisa Thomas » Tue Mar 17, 2015 11:13 am
Hi Blueboy - I agree with the others. Try to calculate what the net difference is between the increase in wage, less the additional expenses and compare to the figures in your original I&E included in the IVA proposals. Then speak to your Supervisor about it. Good luck.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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