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
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.
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