www.iva.co.uk

HI our IVA approved, first payment in December.

Just a question: I earn a different amount each month net, Not bonus or commision just because i do lots of different shifts.

If my agreed net monthly salary was £2000, our aggreement is keep the first 10% than split the rest 50/50,above that net figure i understand how that bit works!

But lets say the next month my net salary was £1940 would the IP adjust the monthly payment to take in the difference in the net take home?

I understand they can adjust the payments by around 10% without having to notify the creditors.

Im will tell the IP every month what the net income figures are so that we dont get a big surprise at the end of the year.

I will ask the IP, just thought sometimes people like to see the questions on the forum!!!!!
Thanks

I don't think the payment would go down when you went below your monthly figure. By the same token if you earned up to £2,200 (in your example) you wouldn't pay any more over. I think that is how it would work but it's probably worth checking with your IP to make doubly sure.

I don't think your payment would go down if you earnt slightly less, IP's do have the discretion to reduce payments by 15% without the need for getting creditor approval I believe but I think that is for a more permanent wage reduction.

One of our experts will be along soon to clarify. x

I too think you have to suck up the lean months and offset them with the higher salary months.

Thanks for that! Just like to get everything clear in my head!
Baldy[:D]