Declaring extra income

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

rhythmb

Posts: 23
Joined: Tue May 01, 2018 9:14 pm

Post by rhythmb » Thu Aug 08, 2019 9:42 am
I know I have to declare extra income but do I need to call my IVA company to tell them how much or can I just amend my payment details to reflect the extra income? I have already worked out how much extra I need to pay.

kallis3

User avatar
Forum Expert
Posts: 75202
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Aug 08, 2019 10:02 am
I would speak to them to keep them in the loop so they know what is happening and it doesn't come as a surprise.
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.
http://kallis3.blogs.iva.co.uk

Foggy

User avatar
Forum Expert
Posts: 29870
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Aug 08, 2019 10:07 am
They need to be told, or they will not account for it correctly and may well ask for it again at review.
I used to do the calculation monthly and send it to my IP in an email as well as make the payment seperately from my regular payment, so as to provide a clearer audit trail, if required.
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
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”