Accepted...but now?

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Post by Rlh1994 » Wed Jul 18, 2018 7:45 pm
So the biggest relief came yesterday when I received the call to say mine and the husbands IVA was accepted! I'm nervous about what the next 6 years might bring but feeling like a weight has been lifted!
However, it has been a big week in our home! My husband was offered a different job monday, started the same day, this shouldn't be a massive difference in income, especially as we're on universal credit and this will alter accordingly. Also I work for the NHS which, as you may have seen has been granted a pay rise, it's not overly significant and again, universal credit will reflect accordingly, but it does mean I will be due 3 months of back pay come August, it isn't expected to be a lot and probably not over 10% of normal take home, so am I correct in thinking I don't need to declare this?
Also, in more excellent news, I've been offered a place at university, my trust is funding it, but it will include significantly more travel and expenses, which I'm happy I could meet without altering the IVA payment, and also comes with a payrise and increased working hours, which again will reflect in universal do I declare all of this when I know more, or just wait until the annual review?
Also I'm not sure I'll be elgible for any form of student finance, but if I am I would obviously love to jump at the chance, would this be expected to be paid into the IVA...there seems to be blurred lines around this subject.
Sorry that all seems a bit drawn out! It's been a crazy week! Lot's happening, I'm hoping all good things!
Also wanted to say a massive thank you to Foggy, who has answered my last two posts and endured some serious overthinking on my end! I changed banks as suggested and am still waiting to see how the car company take the news of an IVA, fingers crossed we get to keep it, but otherwise I'm feeling more equipped than ever to face what life throws our way!
Thanks again!


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Post by Foggy » Wed Jul 18, 2018 8:08 pm
Welcome to the journey ! You will be all over the place, emotionally, for a while, but things soon settle down.

You need to declare everything financial (even extra under the 10% threshold ) and it will be down to the IP to request required payments, if they are due. It is better to tell your IP everything and allow him to decide what to ignore, than to miss out something he later takes an interest in. Try to get any agreements in writing.

When your employment changes / pay rate rises, these things are normally considered at the annual review following the change and any increase takes effect following that review (assuming you have the usual clauses in this regard). However, if you request an earlier I&E review the changes will follow that review.

Don't hestitate to ask any questions, someone will always try to help.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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