www.iva.co.uk

Hi, I'm new to the site and just starting this long journey with Step Change today, well the I&E has been done just waiting for the paperwork and the proposal to start.
My question is , if I were to get a 2nd job on top of my main FT job would be I right in thinking I could split it equally between myself and my creditors? I mentioned this to the man on the phone and he said it would form part of my permanent income and that it would all go to my IVA.. which if it did there would be no point in doing it in the first place. I would want to pay back more if I can, and keep some income for myself too. I was just thinking for 6 months or so it could come in handy for extra cash for me and them, but not necessarily to last the full IVA term

Once in an IVA you cannot negotiate with your creditors yourself and any extra income would go towards your IVA but you may be able to keep some of it, depending on your proposal

I would say they should treat it in the say way as a permanent pay rise and split it 50 / 50 after the review following the rise.

Re Foggy's post: This is what my proposal says (orig with Knightsbridge and now Creditfix) and what the latest IVA protocol seems to say as it it additional income. Step change may interpret it differently........