First review

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Post by lauren711 » Tue Dec 29, 2020 5:05 pm
First review - hi everyone I have my first review in June 2021 . At the time of the Iva I was earning £2240 a month but this does differ sometimes as its shift work , every time I earn over the 10% mark I pay more into my iva . But I’m worried as most months I am earning £100 more ( which I don’t pay into the iva ) because it’s under the 10% . But some months I can earn £100 under the £2240 it just depends on the shifts available . Is my iva practitioner likely to increase my payments on my first review ? Or because I have been paying anything over the 10% mark I will be fine ? As some months are more and some are less by the time the review is due divided by 12 months on average I am getting £100 more than allocated on my iva , will they allow this ? Or will my payments increase by £100 , or will it be the 50/50 rule , as I’m worried if payments increases by £100 it’s likely some months could be low again and I wouldn’t be able to afford my iva payments . Thanks :)


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Post by Foggy » Tue Dec 29, 2020 6:01 pm
They should treat your income in the same way as they did when setting the payments according to your first I&E, which hasn't really changed, so it should stay pretty much the same. You may need to argue the point, but this ought not to be the case.
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IVA Completed 23rd July 2013 .... C.C. 10th January 2014


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Post by luluj » Thu Dec 31, 2020 4:33 am
There is no significant change in your income and you are following the guidelines and making the additional payments as and when therefore I agree with foggy there shouldn't be any change.
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