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Posted: Thu Nov 01, 2007 4:44 pm
by Rachel198k
My IVA was agreed in May 2007 and I am making payments of £348 a month, last month I received a payrise of approx £22 a month (hardly worth it in my opinion).
Will my payment be increased by the amount of my payrise? or as it is only a 3% payrise will my payments remain as they are?
Posted: Thu Nov 01, 2007 5:05 pm
by Adam Davies
Hi
Your payments will only increase if your expenditure has not increased and this is very doubtful.If it is the normal annual increase then your IVA may allow for a 3% payrise without any further action by you.If it is a one off rise you need to contact your IP and get a fresh income and expenditure form.
regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Thu Nov 01, 2007 6:07 pm
by MelanieGiles
I would also doubt that this will warrant an increase in payments, as your expenditure must have also risen in line with inflation.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp