www.iva.co.uk

Hi guys

Ive been in my iva for nearly a year paying £260 a month. I am roughly on about £19300 a year. I have an interview for a new job which the salary is between £21000 - £25000 obviously i have to tell my superviser but how do they determine how much my monthly payments will increase by?
Thanks

Permanent increases in income by way of a pay rise are taken into account at the annual review following the rise. 50% of any net increase in income will be added to your regular monthly payment from the month following the review --- this is assuming you have the usual clauses in this repect.

Check your paperwork.