About a pay rise

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ashbock123
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by ashbock123 » Mon Jan 22, 2018 7:28 pm
Hi there everything is goi well with my iva really pleased. Just asking information I am due a pay rise at work as am a postman and we are expecting a 2.6% pay rise back dated to April 2017 do I get to keep all of the money as 2.6% every week won't make much difference to my iva payments. Any info would be helpful please
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kallis3
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by kallis3 » Mon Jan 22, 2018 7:31 pm
Usually a payrise will result in you paying across 10% plus 50/50 but you need to speak to your IP about this.
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Foggy
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by Foggy » Mon Jan 22, 2018 7:33 pm
Assuming you have the usual clauses you will keep all of the rise until the next review. From then on your IVA payment will increase by 50% of the rise each month.
ashbock123
Posts: 93
by ashbock123 » Mon Jan 22, 2018 7:35 pm
Yeh will need to speak to them once receive it just 2.6% increase a week is not much. Just them back paying back to April is the bit am worried about as would be a lump sum that over every week wouldn't make much difference to the 10% 50/50
ashbock123
Posts: 93
by ashbock123 » Mon Jan 22, 2018 7:39 pm
Ok will have to have a look at my paper work. Thanks for you help everyone. Enjoy reading the forum makes feel better that being in a iva is the best thing I have done. I am with credit fix. Just trying to get used to there way of working as just speak to someone different every time call
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Waitingforship
Posts: 95
by Waitingforship » Mon Jan 22, 2018 9:31 pm
ashbock123 wrote:
Ok will have to have a look at my paper work. Thanks for you help everyone. Enjoy reading the forum makes feel better that being in a iva is the best thing I have done. I am with credit fix. Just trying to get used to there way of working as just speak to someone different every time call


Be careful of the advice given to you by the team at Creditfix, Ashbock123. The reason I say this is that I was a shoe-in for a promotion at work which was temporary. It was a new post that would last one year with a return to my normal job after the 12 months was up. It would have been quite a bit of extra responsibility and pressure but would have meant 10k extra salary. Before accepting I spoke with Creditfix who incorrectly advised me that they would do a new I and E but that I would be paying ALL the extra into my IVA. I stupidly took them at their word and turned down the promotion, as whilst I would have been happy with a 50/50 Split immediately, let alone at the review stage, I was not prepared to work harder just to pay extra into my IVA. To add insult to injury the job looks as though it is being extended indefinitely. Hey ho, c’est la vie.
ashbock123
Posts: 93
by ashbock123 » Mon Jan 22, 2018 10:52 pm
Not good that you could not take the position I am a postman and we have had the union agree all of us a 2.6% pay rise but they back paying it on all hours have done back to April 2017 just annoyed as went into iva in September 2017 but the 2.6% in all the way back to April on every hour that we have done. Just trying to find out what I would keep if anything.
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