www.iva.co.uk

I've had my IVA approved but within 6 months I will expect a change in circumstances.

A payrise of 7.5k per annum and a change in company car which means I will pay less tax. At what stage do I tell my IP as Payplan wheren't very clear when I told them.

Do I tell them immediately or do I put money into a savings account and then when they do they annual review I pay off a lump sum? Whats the etiquette on this situation and will I have to pay all 7.5k to the creditors?

I think I will also be given a company credit card for expenses, this is not credit in my name but should I make the IP aware?

Also say I sell a teapot on ebay for £10 or something silly do I have to alert the IP.

Now i've got a light at the end of a tunnel I don't want to blow it.

One further question my wife is 3 months pregnant and not included on my IVA, does this allow me to raise my housekeeping figure?

Hi there. Definately keep the teapot money.
I would inform them just before the rise starts and ask them what to do. I think the card is ok if not in your name. Its not your credit.
Wait for conformation from the professional experts though.



Ang

Payplan did tell me I could keep my AMEX charge card for expenses only as well. Seemed a bit unusual but it does help in my current job so I can get from A to B.

No need to declare teapots unless they are antique Royal Doulton.

Advise your IP about your wife's pregnancy at an early stage, but I assume that the additional costs will be covered from your payrise. Also discuss the payrise with them as assuming you have the usual 50% uplift provision they will probably want to rework your income and expenditrue futures at an early stage, as this is a material difference.

Hi Mel,

I have nothing in my proposal that talks about 50% of anything, only that £500 clause I printed out earlier.

I have no mods as well on the day.

Hi pms999, I am with payplan too, and one month after my IVA was agreed, I got a payrise of £80 per month. I told payplan, and i sent them my letter to them that confirmed my payrise, but I never heard anything back from them. I am paying over half of the payrise (£40) extra per month, to be on the safe side, as at my annual review i don't want them saying i owe them hundreds ! Make sure you speak to them about your increase x