As I have said before -- check your agreement: Most allow you to keep the whole payrise until the next review, and only then take the rise into account from then on. Some agreements, however, allow for the increase to be effective right away and, sometimes, an IP will try it on and claim the increase right away when the agreement actually says otherwise.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
No more than 3 months before each anniversary of this arrangement the supervisor will conduct a review of my income and expenditure in event that my surplus income has increased whether through increase in my basic wage or my spouse or of any routine overtime included in the original surplus calculation or through a reduction in my personal expenses I will increase payments from anniversary of the arrangement by 50% of the increased surplus I undertake to provide the supervisor with any information that the supervisor may require to conduct the review and to repay any arrears that arise from any delay in completing the review before the next anniversary of the arrangement.
You do need to tell them of any increase in money before the annual review but most companies will leave it until the anniversary.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You are not a pain! Most of us have been where you are and in need of help and support.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Kallis says, you are not being a pain -- you are on a steep learning curve and we all suffered from information overload at the start.
I found the best thing at the start was not to rush at things headlong -- read your proposal and Chairman's Report several times, with a cuppa or two between each session, then allow bits to sink in before doing it again a couple of weeks later. Also read around the forum when you get a few minutes -- many problems are fairly common to us all.
Last edited by Foggy on Sun Oct 02, 2016 10:22 am, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It does look that way -- I had similar wording and that is how my IP operated. However, I did tell him about pay rises as they happened and he would then just ignore them until the review. To be honest I used to update my IP monthly with the "story of my life" --- I am sure he was glad to see the back of me and be left in relative peace ! On the other side of the coin, it did help build up a relationship of sorts, which made everything seem easier (for me, if not for him !).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
In my opinion these changes do not need to be addressed until the anniversary. However if the wage increase is wiped out by increased cost of living a review may be appropriate now. It would help your wife if she gets overtime as her base figure would rise.
Spoke to credit fix after 20 minutes on hold again!!!
Told them that my wife's wage has gone up to £170 a month they said they will send a form out for me to fill in I'm guessing this is for outgoings etc??
Also I've got viva ringing me about life insurance even tho I've got life insurance with my pension in work?
I think it probably will be. Don't know who viva are?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Micheal my wife works in a school and she doesn't get overtime so her wage is the same every month. I've just been going through the expenditure list I've got and there is bits not on there that we pay out for!
My fault as I just wanted the Iva sorted asap and didn't pay attention. So can some of the new wage £170 a month be used to cover these things?
If you are now doing a full review you are entitled to claim for any additional expenditure incurred or anything previously omitted. If you want to have a copy of the most recent guidelines to see what you can claim for drop me an email and I will send you a copy.
