can contribrution be increased if wages go up ?

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orange

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Post by orange » Sun Aug 08, 2010 7:00 pm
hy during the last year of an iva (equity year) can the contribrution be increase if your wages go up ?
completed july 2011
 
 

kallis3

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Post by kallis3 » Sun Aug 08, 2010 7:04 pm
Hi, if you earn more and your expenses don't go up then the contributions can increase.
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.
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plasticdaft

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Post by plasticdaft » Sun Aug 08, 2010 7:48 pm
Yes contributions can go up.

Paul
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MelanieGiles

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Post by MelanieGiles » Sun Aug 08, 2010 10:27 pm
But if you are in the last year, you will not have a review at the end, so as long as the payrise is not material, I am not so sure that you would be asked to increase contributions during the last year.
Regards, Melanie Giles, Insolvency Practitioner
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