Hi, I have a question re my IVA and a pay award. At work we have just had a pay rise of approx 2.5 percent, which falls well within the rules of my IVA re changes in monthly income, (that is, it isn't great enough to affect my monthly payment). However, it took eight months for my union to thrash out a deal so this month my pay will contain seven months arrears and so will, in theory, push me over the threshold where I must contribute part of the extra income to my IVA. Have I got a case for not having to pay part of this into my IVA pot, as it actually relates to several months wages (some of which were actually before my IVA started) or am I resigned to losing out because the pay negotiations were dragged out?.
You have all been so helpful before, thought I would ask your opinions before contacting my IP.
It's all going to depend on what your IP says. I have just had back pay from a pay award, and my IP doesn't want any of it.
I think you will have to ring them and ask.
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
Given that the pay is overdue from several months your average wage wont be high enough to boost your payments,but talk to your IP to make sure everyone is happy.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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
