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Dan Mc
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by Dan Mc » Tue Jun 05, 2018 3:45 pm
I may be getting a promotion within the company I work for, although my salary stays the same, I will get a house with the move (still owned by the company) but will mean I will pay no rent, water rates or council tax. I was wondering how this may affect my IVA.
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Foggy
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by Foggy » Tue Jun 05, 2018 3:58 pm
The amount you would have paid towards these items will add to your disposable income and increase your IVA payment, after allowance has been made for tax etc.
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luluj
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by luluj » Wed Jun 06, 2018 1:03 am
As foggy has said the additional disposable income will be added to your payments to creditors to help pay a higher return back over the term of your iva up to the original full amount of debt plus IP fees and possible statutory interest.

Had you have received a increase in salary with promotion you may have been able to keep 50% of any increase but as this is not the case you need to accept that you will not financially gain from the additional work responsibilities but it is still a good opportunity and you will benefit once is concludes.
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