Page 1 of 1
Posted: Wed Aug 21, 2013 1:03 pm
by sue100
I'm am paying 485, just over half my pay. Other job would pay 600 a month net. Looking to change as struggling with shifts etc and the other job would be ideal apart from drop in pay while iva still running. Thanks.
Posted: Wed Aug 21, 2013 2:13 pm
by Shining
Have you spoken to your IP to see how this would impact on your IVA? how far into the IVA are you?
Posted: Wed Aug 21, 2013 3:29 pm
by Goosed
Hi sue100,
I think IP`s have the authority to reduce your monthly IVA payments by 15% should the need arise without calling a variation meeting.
Whether they would do this in an instance where someone was lowering their ability to maintain current payments through job selection I don`t know,
You`d need to run everything through your IP.
Posted: Wed Aug 21, 2013 4:10 pm
by Ethical Money Solutions
Hi Sue,
Goosed is right in saying that you should run everything past your IP.
I would add to this and say that you should speak to your IP prior to committing yourself to the new job. This way your IP can assess your circumstances and advise you if your IVA would still be viable before you commit to the new job.
The last thing you want is to change jobs and then realise that the IVA is no longer viable and it subsequently fails.
Kind regards.
Posted: Wed Aug 21, 2013 5:16 pm
by Shining
Could you suggest an extra x amount of months payments to cover any loss if all else fails?