www.iva.co.uk

hI all

Well my first month in the iva as gone fantasically. Even after buying new school uniforms , attending a wedding and a Bad manners gig still had £50 left to put in savings
Hubby did do two overtime shifts but in our previous life they would have been swallowed up by debt instead of put to good use.
Anyone looking in and considering IVA as an option, i can honestly say its the best thing i have done in 10 years , and how strange to have no post - credit card bills etc its fantastic!!

I do have a query -
I will recieve an increment next month in my wage which was due to me in April before i entered the IVA , but due to some policy changes etcthe increment was delayed until October so as built up. How will this be treated, it will be about £300?. Also the increment means my basis wage will increase £50ish a month . Do i have to start paying extra now or does this change from my first review?
[:D]

wow...well done. we are pre IVA but have been budgeting very carefully this month and to be honest living within our I&E should be fairly easy to achieve. I have saved so much planning meals and shopping carefully. I am really looking forward to the challenge.

Hi pog
Don't get me wrong we haven't been fine dining or anything
Food shopping as been with a calculator etc, but it is definately achievable.
Luckily my Hubby can do overtime, so we can always have £150-200 a month on top of our allowance.
I am really enjoying the budgeting strange as it may seem and really felt like i had achieved something at the end of the month.
Thanks to this site i feel back on track
can anyone answer my query re backdated wages?x

Hi there - I would ask your Ip re: the backdated wages as I've read some say you can keep it as it was pre-IVA but others say a percentage should go in the pot. Better to be upfront and avoid any nasty scares at the review stage.

Same with your £50 increase, though I would argue,cost of living will increase during winter months so it will even itself out.

You'll be amazed at the buzz you get from budgeting...sad I know but I love finding bargains.

I agree that you need to inform your IP.

I was lucky that my IP allowed me to keep my backpay earlier in the year, and did not take any of my payrise either.

thanks
i will let them know .It does seem tho thst things don't seem to be very consistant wih what is allowed and what isn't. Don't mind paying a %age just didn't want them to take the lot

x

It does very much depend on your individual proposal...hopefully they won't take it all.

Good luck with your IVA and keep posting! With Christmas coming up be great if everyone shares their bargain finds. xx

This year i have had a similar problem.Back pay of around £120 and a payrise of £50 per month.Luckily my IP let me keep the lot.

That's great your IP let you keep the increment CJ....it seems a sensible thing to do [;)]