www.iva.co.uk

Hi all,

I have moved jobs within my company. I will not be earning about £150 per month more than when I started my IVA. The job may not be permanent if not I go back to my old job. Should I let my IP know this now or later? Also, like I am sure many people out there I was not realistic with my expenditure while doing my IVA. I am just worried what way to move forward with this.

Oh by the way for anyone just starting, it gets so much better. Take this from someone who though it never would. Why some days I feel normal. Postivie thinking is a wonderful thing and anyone can do it. Even me. [:)]

Let the IP kmow for their information, but in view of the uncertainty I suggest that your payments should only be assessed when you are made permanent. If you are earning any additional monies, put them aside for a rainy day - there always is one at least once per year in an IVA scenario!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi
If you earn extra, without having increased travelling costs, then I would advise contacting your IP straight away and to start paying extra each month,otherwise you could be expected to make one large additional payment at your annual review.If you are disciplined person then,as Melanie says,just put any extra to one sideand pay it at the review.
A change of jobs is a good time to ask for a fresh income and expenditure form and this time be realistic with your living expenses,it may well eat up most of your pay increase !!