Wages gone up but I don't have a clause

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Coleen.l

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Post by Coleen.l » Tue Oct 01, 2013 8:42 pm
Hi, I'm almost a year in to my IVA, it has gone so quick :-) it's been an amazing year one of the highlights has been a significant promotion at work (acting for 1 year but could be permanent if ai do a good job) I've just been rereading my IVA docs and realised that I have no clause regarding what happens if my wages increase, it mentions nothing at all - no 50/50 no 10% 50/50 so what will happen with my extra wages? Will they take it all?

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Shining

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Post by Shining » Tue Oct 01, 2013 8:55 pm
Hi congratulations on your promotion. I would have a chat with your IP to take case specific advice on this to be fair if you can't see anything evident in your proposal.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Foggy

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Post by Foggy » Tue Oct 01, 2013 8:57 pm
Is there a clause detailing what happens at annual review ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Shining

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Post by Shining » Tue Oct 01, 2013 9:07 pm
Hi congratulations on your promotion. I would have a chat with your IP to take case specific advice on this to be fair if you can't see anything evident in your proposal.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Coleen.l

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Post by Coleen.l » Tue Oct 01, 2013 9:19 pm
Thank you all I really appreciate your comments :-) all it says in my proposal is that 'the level of contributions is subject to annual review' nothing else at all. I'm expecting to have to put in more after reading so much of the other posts, would like some sort of guide so I can plan (I'm really obsessed since I started my IVA about planning ahead!!). Secondary question my Review is on 31st of October but my payments go out on 1st of each month will they wait a month before they take the extra (I'm with Payplan)
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