What would happen if i changed jobs during my IVA and the salary was higher? Would my IVA payments stay the same until review or would i have to pay all the extra income into the iva?
If your salary income is higher then your payments would be expected to rise, although I do believe that some things may be offset ie more travelling etc or any such extras. Also if your costs have gone up since the start these could be offset too.
You're right Lily. He would have to do a new I&E and his payments could possibly go up.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You would be advised to inform your Supervisor straight away but point out whatever extra costs you are incurring too.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I don't think you would be expected to pay it all across.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
