how will part-time job affect my IVA ?

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loucat1

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Post by loucat1 » Mon Aug 09, 2010 6:52 pm
I am 1 year into IVA and all going ok. I receive monthly bonus's in my job and keep 10%, then pay 50% of deifference into the IVA. I have just been offered a part-time job in addition to full time job, pay is minimal as bar work but how will this affect my IVA ?
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Shining

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Post by Shining » Mon Aug 09, 2010 7:17 pm
Hi, I would contact your IP and take their advice but I would think a 2nd income would definitely need to be declared and if it's a regular job rather than casual work your I&E would need to be re-assessed and payments adjusted accordingly.

Hang around for a professional as I'm sure one will be along very soon. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Lisa2009

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Post by Lisa2009 » Mon Aug 09, 2010 8:43 pm
I agree with Lesley that it would have to be declared as extra income.
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kallis3

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Post by kallis3 » Mon Aug 09, 2010 9:03 pm
It will have to be declared and you may well have to pay some across to the IVA.
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MelanieGiles

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Post by MelanieGiles » Tue Aug 10, 2010 1:12 am
I personally would treat that within the 50% category. Anyone prepared to take on a second job, should get the 50% benefit otherwise what would be the point of doing it.
Regards, Melanie Giles, Insolvency Practitioner
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