New to IVA

dreamer7

Hi all, thank god for this forum. It's helped me so much to realise I am not alone. I am in the early stages of an IVA. I've been advised by National Debt Line and I'm now just waiting (and ignoring the phone!!). I have a debt of £29k. I have sent off the IVA forms to National Debt Line (about 3 weeks ago) and in that time I have got myself a second job. It is only casual work so one week I may get two shifts and another I may get none. This is really to help with some priority bills but also to keep me sane!

Would this second job be counted towards my IVA offer? I'm concerned that it's not consistent and I'm still on trial in the job or would it be something I can declare if I make so much from it a month? I just don't want them to fix a payment a month that I can't always make.

The second job is working behind a bar (min wage) so is not bringing in a huge amount.

Many thanks in advance!!

Nargleblast

Would you be getting a payslip from the bar job? If so, your IVA providers may want you to send photocopies to them every month with an agreed percentage of what you have earned in this job for the month, so the months when you have very few shifts you might not have to send anything. Just depends really on what the minimum amount is you can expect to earn. Discuss this with your IVA provider, they might let you wait until the job is made permanent before taking it into account.

Charco_2

Are the extra hours being used towards your offer? Probably shouldn't be!

I'm sure you wouldn't be expected to bring in all the money earned from the bar job - otherwise you wouldn't bother doing it.

I'm not 100% sure but if it was overtime you earned in your normal job the it would be dealt with like this, you keep the first 10% and split the remainder 50/50. So if you earned £100 a month doing the bar work you'd keep £55 and send your IP £45. Might be best to average this out over three months or six but be sure not to spend it all because you'll definitely have to contribute.

Suppose it depends if it's going to be included from the start of your IVA as a fixed sum or accepted that it is dependant on hours and will fluctuate (it will also depend on how affordable your IVA will be!)

dreamer7

Thank you guys that helps alot! Yes I will be getting payslips for my second job so I can show IP those. As long as they take into account that it's not a fix wage I should be ok. I think I'll be earning between £50-£80 a month, not a great deal but it's more for me to be doing something and steering from the dreaded depression. I'm waiting for an IP to contact me as I only sent the initial forms off 3 weeks ago.

Thanks for your help!!! xx

althas

I guess you will have your main and stable job as the income figure. Then there could be a clause in the IVA that says something along the lines of "If you earn more than 10% of your normal pay (the one used in the proposal) then any amount over that 10% is split 50/50 between you and your IVA"

So for example your normal salary is £100. You earn and extra £20. The first £10 of that is yours to keep, then the remainder £10 is split 50/50. You keep £5 and pay the other £5 extra to the IVA

But ask the IP the specific question, and read the proposal when it comes for you to sign, it will all be on there

But well done on taking the hardest 1st step and wish your journey to debt freeness well