So my first yearly Review is coming up in 3 months time , when setting up the iva my yearly income on my p60 from 2019-2020 was £36430
This year from 2020-2021 it is £40,026 an increase of £3569 ( this is from overtime not a wage increase ) roughly £297 extra to live on a month
I was told I could earn 10% above my stated salary which I have worked out to be £3643 meaning I am still under the 10% threshold by £47 although I have actually paid in extra over time on the high months by £200 but my iva practitioner has said I could be re funded this on review as key workers where not required to pay in over time .
My question is , is it likely my iva payments of £249 per month will stay the same or could they look at the over all increase from overtime and increase my monthly payments ? I want to get all the facts first so I can question them Incase they do try and make me pay more , i can prove with wage slips that my hourly rate has not increased throughout the year the extra has just come from over time ,
Could someone just confirm that I have worked that out correctly please ?
The extra from over time has helped so much with extra things that are not included in the monthly expenditure like items for my house , Friends /family’s birthday gifts , new tyres for my car and so on , I’m really hoping I can earn this extra throughout the next 4 years of my iva , it makes the overtime worth it,