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Posted: Thu Nov 30, 2006 7:27 pm
by trevspi
hi
i had my review in august and it turns out i need to pay an extra £1800,so i dont have this ive had to pay an extra £46 per mth,
what can i put down on my expenditure account,as my rent is going up?
thanks
trevspi
Posted: Thu Nov 30, 2006 9:57 pm
by neverending
Hi
You need to fill out a new income and expenditure form and list everything as it is,for example the increased rent,utility bills,travelling costs.Food costs have risen about 3% etc etc.,
This year if you earn overtime send 50% of it to your IP as soon as you earn it.
Posted: Fri Dec 01, 2006 10:39 am
by Oliver
Neverending is quite correct to say that usually there will be a condition in your IVA that demands 50% of any overtime / bonus / commission etc.... Was this the reason that you were asked to pay more?!!
If your rent has increased you should take this up with you IP immediately.
You can access Video Clips giving additional information about IVAs at:
http://www.thomascharles.com/interview_ ... an_iva.asp
If you would like more information about IVAs, other debt solutions, or just want to arrange an informal chat, please visit us at
www.thomascharles.com.
Best Regards
Oliver
www.thomascharles.com
Posted: Fri Dec 01, 2006 10:48 am
by iva experts
Hello Trevspi,
Great advice by Neverending, I think it is definitely important to contact your I.P if your circumstances change whether that is your income or moving house etc.
It can be easily forgotten to declare your overtime, especially if you do not receive it that often. So when you do receive it, it would be best to pay your portion straight away then you don’t need to worry about it.
All the best.
Hope this information is of use
Regards. IVA Experts