www.iva.co.uk

I am in the process of changing jobs, the pay per month will be around £170 better off.Now in my agreement it says that i have to donate 50% any additional income i recieve but as my new job means i will be traveling alot more miles each month this is going to add an extra £70 in fuel, also with all my other expenses increasing dramatically i'm probably only going to be around £40 better off.
Does my IP have to take into account all these extra expenses & would i have to pay the whole £40 into my iva or half ?

I suggest approaching the IP with an updated income and expenditure statement that way they have the whole picture and any amendments should be fairly assessed

All the best alan

www.debtdr.co.uk

Yes - your IP does have to take account of the additional expenditure you are incurring in order to warrant the pay-rise, and this should be deducted first before the 50/50 split.

Thanks for the replies, I thought thats what they should do Melanie but was'nt sure.
But after all the extra expenditure,Im left with £40 extra, do you think I should donate all of that or just half ?

Half!

Ive sent my IP a letter letting them know I will be in new employment at the end of April with an increase in salary along with increases in expenditure, I outlined how many more miles & suspected fuel costs I will undertake too.
Ive done this so they know in advance what my new situation will be,so when my annual review comes along they cant say i did not tell them can they.