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If I leave my job how does it effect my iva
Posted: Mon Aug 02, 2021 5:05 pm
by zoe568
If I leave my job how does it effect my iva
Re: <t>If I leave my job how does it effect my iva</t>
Posted: Mon Aug 02, 2021 5:22 pm
by kallis3
Will you be going into a new job? It will depend on your income and you will need to speak to your provider if there is any change.
Re: <t>If I leave my job how does it effect my iva</t>
Posted: Mon Aug 02, 2021 5:22 pm
by Foggy
It depends on your ability to maintain the agreed payments. It is possible, if your income decreases, to get the payment reduced. Any reduction over 15% will need to be agreed by your creditors. If they do not agree to a reduction the IVA can be failed and you will need to consider other debt solutions as creditors will be able to pursue collection of the debt.