My wages have gone up but so have my outgoings. Will I have to pay more ?

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warren
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by warren » Mon Oct 16, 2017 7:49 am
My wages have gone up over the year
but so have my outgoings I had been struggling to keep up, it is easier now but I do not have any extra money left over when everything is paid each month.
will I be asked to pay more
Thanks
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kallis3
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by kallis3 » Mon Oct 16, 2017 7:54 am
Hi,

You need to contact your IVA company and ask to do a new I&E to see if your payments can remain the same.
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Foggy
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by Foggy » Mon Oct 16, 2017 8:18 am
At your review you will be expected to pay 50% of the increase in earnings. Hopefully your IP will also offset some of the increase by an increase in expenses, if they are agreeable (some IP's are tougher than others). If you are struggling anyway it might be an idea to have an early review as there is something amiss with either your current allowances or your spending habits. An IVA is not supposed to be easy, but nor is it supposed to be unmanageable.
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