I work part-time and most months I do extra hours with means my income can vary quite wildly. When my iva was set up my income was based on the average of the previous six months, and it worked out at £855.
When my review takes place, will they recalculate my monthly average income again? For example, my January wage this month was £1280 after tax, but my wage in December was £930.
If they set up the arrangement on an average, they should use the same method in the review -- but you will need to keep an eye on them and challenge where you think they are straying.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Total agree with Foggy, keep a keen eye on any increase that it put to you. Dig out your proposal now and take time to look it over again, just so you are firm in your understanding of ,average income' isn't misinterpreted by them.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
