IVA approved

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Bubbly

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Post by Bubbly » Tue Dec 04, 2018 1:02 am
Hi
I had a phone call to say my IVA has been approbed and my first payment is end of December. However, I have got myself a second job and get paid on 10th. Does some of that go to my IVA if its over 10% or will it not start until end of December?

Confused of actual start date because IVA payment doesn't come out till end of month

Thank you please advise
X

Foggy

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Post by Foggy » Tue Dec 04, 2018 7:56 am
The start date is the date it was accepted -- so you are in the IVA right now. You need to disclose this new employment right away. How it wuill be treated depends on the whole picture -- but it could well be that it will not be treated as overtime (so no 10% disregard) as it is a permanent rise in income rather than the odd extra here and there.
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

Bubbly

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Post by Bubbly » Tue Dec 04, 2018 8:04 am
Foggy wrote:
The start date is the date it was accepted -- so you are in the IVA right now. You need to disclose this new employment right away. How it wuill be treated depends on the whole picture -- but it could well be that it will not be treated as overtime (so no 10% disregard) as it is a permanent rise in income rather than the odd extra here and there.
Hi

I told them about it and that it is a 0 hour job and they said its fine and anything over 10% I give them 50% of. I think I just need to be careful of what hours I do?

Di I save this money to give them at end of year or give them it straight away?

Thanks for getting back to me

Lisa Thomas

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Post by Lisa Thomas » Tue Dec 04, 2018 8:53 am
The answer will be in the terms you have agreed to - you need to check your paperwork or ask your IP.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Bubbly

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Post by Bubbly » Tue Dec 04, 2018 8:54 am
Lisa Thomas wrote:
The answer will be in the terms you have agreed to - you need to check your paperwork or ask your IP.
Okay thank you

Foggy

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Post by Foggy » Tue Dec 04, 2018 9:01 am
Bubbly wrote:
Foggy wrote:
The start date is the date it was accepted -- so you are in the IVA right now. You need to disclose this new employment right away. How it wuill be treated depends on the whole picture -- but it could well be that it will not be treated as overtime (so no 10% disregard) as it is a permanent rise in income rather than the odd extra here and there.
Hi

I told them about it and that it is a 0 hour job and they said its fine and anything over 10% I give them 50% of. I think I just need to be careful of what hours I do?

Di I save this money to give them at end of year or give them it straight away?

Thanks for getting back to me
That's good -- you get to keep a little more that way. The usual terms are that overtime or extra income has to be declared monthly and the share due to the IVA paid within 14 days of you getting the money --- check what it says in your proposal as some do differ on detail.
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

kallis3

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Post by kallis3 » Tue Dec 04, 2018 10:47 am
Excellent news.
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

MerlinL14

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Post by MerlinL14 » Tue Dec 04, 2018 2:28 pm
Great that your IVA is accepted and you are now on the road to clearing your debts. Even better that you have secured a second income :D . I don't disagree with the advise given in the posts above, other than I would ask that you get written confirmation of how you are to deal with this new income, whoever is your 'care worker' now may not be after the next review and could make judgements on levels of income that were not agreed at this time. Having it in writing will ease any jobs worth decisions made in error down the line.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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