I'm due to get a nice pay rise

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1


Posts: 21
Joined: Sat Apr 06, 2019 11:12 am

Post by Nickibu82 » Wed Oct 07, 2020 7:40 pm
I'm due to get a nice pay rise at the end of November. Do I have to tell my IVA provider immediately or do I want until my next review (April)? Also, is there a set rule for how much they take? I thought I'd read somewhere 50%? Thanks


User avatar
Forum Expert
Posts: 32805
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Oct 07, 2020 8:07 pm
Historically pay rises have been dealt with at annual review .... after the review you pay 50% of the net increase on top of your old IVA payment. However some IPs are now popping in an extra review to capture the rise immediately. Read your proposal carefully to see how they have actually worded the clauses. You should inform your IP right away for him / her to deal with at the appropriate time.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014


Posts: 15
Joined: Mon Dec 30, 2019 12:02 pm

Post by Rejjy666 » Wed Oct 07, 2020 8:30 pm
I asked the same question recently and following the advice given here, I contacted my IVA company and they told me the rise is all mine until the next review. They did mention the 10% 50/50 threshold, so I assume if I’d of had a bigger rise it may of been different. As mentioned above tho, I would contact your IP


User avatar
Forum Expert
Posts: 11166
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Wed Oct 07, 2020 10:47 pm
I would let them know, but hopefully all yours until your review. Great Xmas bonus for you !
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”