Hi wonder if you can help me. When your iva is set up and you send in payslips, bank statements etc, the company assess what your incomings are. We questioned my husbands wage at the time as it was roughly set at £95 lower than he was bringing home.(they tols us not to worry about this) As i have been reading this forum alot of people have said that anything over the amount set as income we should give them %50. Well that means in the last 6 months (how long our iva is in place) we would now owe them £250.00 which seems unfair as they set the incoming amounts by the information we gave them. I am really worried about this especially as our review isn't until another 6 months time.
Do we have to tell them every single penny we bring home over the incoming amount they set and would this be every month.
If your husband's wages included overtime it would be more prudent to use the basic figure. He can normally then an additional 10% of his take home pay without having to pay extra money so if his net income is listed as £950 or more, he should have nothing more to pay.
It does depend on your proposal and modifications so you should get confirmation from your IP.