Change of job

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Jessicamj
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by Jessicamj » Wed Oct 17, 2018 1:27 pm
Hi guys

Ive been in my iva for nearly a year paying £260 a month. I am roughly on about £19300 a year. I have an interview for a new job which the salary is between £21000 - £25000 obviously i have to tell my superviser but how do they determine how much my monthly payments will increase by?
Thanks
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Foggy
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by Foggy » Wed Oct 17, 2018 1:59 pm
Permanent increases in income by way of a pay rise are taken into account at the annual review following the rise. 50% of any net increase in income will be added to your regular monthly payment from the month following the review --- this is assuming you have the usual clauses in this repect.
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kallis3
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by kallis3 » Wed Oct 17, 2018 2:11 pm
Check your paperwork.
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