By year 2 of my IVA I will have received a pay rise at work (fortunately I'm in a job where an annual increase is pretty much guaranteed). When it comes to my annual review am I likely to be able to argue the case for some fairly standard allowances (that have currently been trimmed or, in some cases, excluded completely) to then be included so my allowed income increases and things become a little easier? Or are they likely to say "well, you've managed to cope for a year - we'd like all of your pay rise, thanks"?
Whilst I want to pay as much back to my creditors as possible, I can only really imagine living to such a tight budget for a year - the thought of having no contingency or leeway at all for a longer period really worries me. Have others been in a similar situation?
having now gone through he initial stages of getting our IVA ready for proposal I think I would be a little concerned if I was being told what my disposable income SHOULD be rather than what it actually comes out at after you have done an accurate expenditure work sheet. I would talk to the IP again and voice your concern at how tight you feel it is and that you should not really be relying on un_guaranteed extras to make it work.
Things do tend to get easier in the second year, as by this stage you are used to budgeting and can perhaps enjoy a little more of your payrises and overtime - but they key to a successful IVA is correct figures from the outset.
If your IP refuses to act at lower than £250, then it may be time to find one who will!
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