I have just had a promotion at work. Just wondering what the usual protocol is with regards to an IVA ? I am going to call my practitioner tomorrow to inform them, will I need to show them proof of income ? Will I need to send new wage slips etc ?
Any advice appreciated.
luluj wrote:Congratulations ! In some iva's changes to income are taken into account at the annual review stage and not before however you should check your paperwork.
You should once taken into account see at least 50% of any increase in salary.
Thanks for that Luluj
I'm with Stepchange. Can't find any info in my paperwork.
At the annual review only twice in the 5 year did I have to increase my payments to the IVA as Stepchange "amended" some of the figures at the review to take into account the pay rises on the other years.
If you are concerned about it then I found an email to them was usually answered within a couple of days.
You also have a duty to inform them of material changes to your circumstances.
Best to disclose now so you know where you stand.
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