Change of job just before applying for IVA

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Bakersue6543

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Post by Bakersue6543 » Sat Aug 25, 2018 9:57 am
Sorry, not sure if this is the best place to post this, but I have been speaking to Stepchange and just need to return signed paperwork to them. Without actually really looking I have been offered a new job which is a little more money (2k a year) doesn’t affect any of my other outgoings and long term offers better prospects - just I am just a bit concerned that the creditors would not be happy with me going into new employment at the beginning of an IVA. I have only been in my current role since March this year, but am obviously out of any probation period etc. I tried to call StepChange but they are close until Tuesday and I really need to decide about the job and get my IVA underway ASAP so just wondered if anyone here had any experience of this, or any advice they could offer in the meantime?
Thank you very much! X

Foggy

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Post by Foggy » Sat Aug 25, 2018 10:40 am
I would imagine that the creditors would have no issue ... more disposable income will mean a better return for them. As for the "security" of the new post versus the old -- in this day and age, it makes no difference. All are as vulnerable as each other if an axe swings !

The only real point to ponder will be timing. If you enter the IVA on your current income, in your current post, then the impending increase would only have to be shared 50/50. If your income increases before you enter the IVA Stepchange might add it all to your disposable income.
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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kallis3

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Post by kallis3 » Sat Aug 25, 2018 10:41 am
Well done on the job - I think it will ok as obviously your payments will go up and creditors will get a better dividend.
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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Bakersue6543

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Post by Bakersue6543 » Sat Aug 25, 2018 11:34 am
Thank you both very much for the replies. Really helpful x

luluj

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Post by luluj » Sun Aug 26, 2018 1:59 am
Take the new job and grasp the opportunity - higher dividend to creditors and better prospects long term for you- win win situation! Good luck x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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