I have been in a joint IVA with my husband since July, we have just recently been moved over to Aperture. Since starting the IVA my husband and I have both secured better paid jobs, but it doesn't effect income too much due to decrease in Universal Credit.
Because of all these changes, they require higher feul consumption, parking fees, childcare costs etc... I am struggling to know if/when I may possibly be going over the 10% threshold.
If I have gone over are they likely to be understanding at our first I&E review? We wouldn't have gone over by much, and will alwayd pay whatever they decide we have missed.
Also will they question how we've afforded an 'expensive' month, upfront childcare costs, car repairs, and paying off overdraft £250 one lump sum....all in one month.
We've managed to pocket some money due to have 0 hobbies and social life, thanks to work, plus christmas money gifted to us...
Thanks in advance
First of all -- pay rises are not dealt with under the 10% 50/50 rule -- that is for overtime and bonus payments. Permanent pay rises shouyld be advised to the IP when they are made and, assuming that you have the usual clauses. are deal with at the anual review following the pay rise. Regular IVA payments will then increase by 50% of the nett increase in income.
Regarding monthly fluctuations: Most IP's will understand the reality that some expenses are rarely constant and the monthly guideline is an average over the year --- a good example is gas & electricity --- in the summer months with lighter evenings and (hopefully) warmer days, power consumption will drop below the allowance. But,in the winter it will rise above that amount.So you are expected to squirrel away the summer surplus to cover the extra winter usage. Haircuts? What -- £5 a month ? You save up those fivers until you have enough to convince a hairdresser to wield those scissors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk