Morning all. I'm currently in full time employment, which my I&E is based on. If I got a part time job in the evening's (10hours) will all of this have to go to my payments or can I keep some for myself. Thanks
You would have to declare it and some may have to be paid across. You would need to do a new I&E.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
dan385 wrote:Thanks, so I wouldn't necessarily need to give it all to them? Would it be treated like overtime?
As it would be classed as additional income I doubt it would be seen the same as overtime provisions are. You would need to ask the specific question to your IVA company as it would be them who ultimately make the decision on how to treat the income, if it is favourable get them to put it in writing before you commit.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Ok, I might just have to see if my current employer can offer me some overtime. Although in the current climate I can't see happening when I need it. Thanks
With overtime you get a 10% disregard (10% of usual salary) and then split the rest 50/50. With increased income by way of a pay rise or second job you will get no disregard and your payment will go up by 50% of the increase in income. However, if you then lose or give up the second job, it is sometimes hard to get the IP to reduce the payments again. Although they should some are reluctant to do so!
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
