Declaring extra income

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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.


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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.
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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
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