Would a cut in pay effect my IVA agreement ?

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KCdude

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Post by KCdude » Thu May 26, 2016 11:09 pm
I am looking at changing my job there would be a cut in pay, one of them backwards to go forwards deals, would this effect my iva agreement?
 
 

MrsR

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Post by MrsR » Thu May 26, 2016 11:25 pm
Hi there,

Yes it will, as you will need to complete a new income and expenditure form, and your disposable income could change, leaving you with less money for your iva contributions each moth.

I would speak to your IP about possible implications of changing your job role, and whether or not your iva will still be viable.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!

Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA :)

Completion Certificate received- 30th April 2015!!
 
 

Foggy

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Post by Foggy » Fri May 27, 2016 7:58 am
I agree -- chat to your IP about possible changes and a "what if" scenario. It might jeopardise the IVA if the payments drop too low.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

KCdude

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Post by KCdude » Fri May 27, 2016 8:26 am
Thank you

I will contact my ip, hopefully it won't effect my monthly payments to my iva too much.

I'm so depressed with my present job it pays well but I can't do it anymore:(((
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