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Simbel

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Post by Simbel » Thu Sep 23, 2010 3:46 pm
Hello everyone - I've been very quite recently but I have logged on regularly to read and keep up to date with everyone - Wonderful news Helen!

I have a question which Size 5 will probably be able to help me with if he reads this. We have a pay review coming up at work and although I don't think there will be big pay rises for anyone, there could be the basic £500 increase (per year that is not per month).
My question is firstly should I inform my IP if my pay is increased by such a nominal amount and secondly will i be required to pay this into my iva (this equates to about £27.00 per month extra) - all our bills/insurances and expenses have gone up as well and obviously this £27.00 would help towards these payments - any answers would be greatly appreciated. [:)]
 
 

kallis3

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Post by kallis3 » Thu Sep 23, 2010 3:56 pm
Hi Simbel, nice to see you.

I would run this past your IP to be sure but I imagine that as your expenditure has gone up that you should be able to keep it.
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
 
 

Simbel

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Post by Simbel » Thu Sep 23, 2010 4:03 pm
Hi Jan, Nice to see you too. I don't actually know whether there will be any increase whatsoever (we haven't had one in over two years) but if there was - I can only see them giving us the basic which would be the £500, you know what they say though "every little helps [:D]" and everything has gone up so much - we spend about £20.00 extra on per week on travel alone, not to mention the other bills etc.
 
 

Michael Peoples

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Post by Michael Peoples » Thu Sep 23, 2010 4:18 pm
I doubt if this will be an issue until the annual review. You will then be allowed increases in outgoings to offset against pay rises and if there is any extra surplus your IP could ask for half of it. I doubt there is anything to be concened about but ask Size5 for confirmation.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Simbel

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Post by Simbel » Thu Sep 23, 2010 4:20 pm
Thanks Michael - will do [:)]
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