Posted: Tue Aug 28, 2007 9:28 pm
Evening all,
I have been in my IVA now for 13 months and have just done my annual review. I have a quick question for you. If I were to recieve a pay rise from my employer that would give me an extra £450/month after tax, would I have to declare it to my supervisor now, or could I wait until the next assessment date? I have been reading this forum regarding 50/50 splits of pay rises and/or overtime, but the only clause in my Chairman's report regarding excess income states:
"Any windfall, in excess of £500, received by the debtor must be paid immediately paid over to the supervisor for the benefit of the creditors."
Nothing is mentioned about overtime/pay rises or 50/50 splits so should I be concerned?
Cheers!
I have been in my IVA now for 13 months and have just done my annual review. I have a quick question for you. If I were to recieve a pay rise from my employer that would give me an extra £450/month after tax, would I have to declare it to my supervisor now, or could I wait until the next assessment date? I have been reading this forum regarding 50/50 splits of pay rises and/or overtime, but the only clause in my Chairman's report regarding excess income states:
"Any windfall, in excess of £500, received by the debtor must be paid immediately paid over to the supervisor for the benefit of the creditors."
Nothing is mentioned about overtime/pay rises or 50/50 splits so should I be concerned?
Cheers!