www.iva.co.uk

I have found a new job after being unhappy in my current one for quite some time.I am in an iva do i need to let my ip know im moving companies?The salary increase is £1300 more?

You will need to contact your IP who will probably go through another income and expenditure with you.

Unless youe expendtiure has increased by £1300 you will probably be expected to increase your monthly contributions

Hi grams,

Yes, you will have to let them know about your job, well done on getting that by the way. You may have to complete an new I&E and possibly increase your payments

of course youre payments will increase you have more disposible income now.

I wasnt sure as initially it will only go up by £300 per year then the extra £1000 per year after 3 month trial.
Thanks

Grams I've always found it best to be proactive.

Once you start your job and you know exactly what your new net income will be, write to your IP and make them an offer of what you can realistically afford.

I am with Grant Thornton and they look positively at what YOU propose to them and it could be iffy if you wait till it's time for your annual I&E review.

Good luck and well done on the new job. [:D]

Thanks, i have just emailed to let them know an asked what i need to do!x

Depending on what your disposable income is now and how much your expenditure has gone up, you may not have to pay any extra.

Firstly, congratulations.

Secondly as Kallis has correctly pointed out it will be only right and proper for any increases in expenditure to be taken into account too, particularly if the extra expenditure is necessary as a result of your change in job eg higher travel costs etc.

Also, check your proposal and the Chairmans Report of the creditors meeting as this will help you establish exactly what your obligations are.

Thanks for all your advise.With the initial 300 a year i doubt thats going to make hardly any differnece to my monthly wage.
I have emailed the iva company to let them know so see what happens!
Thanks again