IVA and Wages

sillysausage1977

My husband is currently trying to set up an IVA. We have informed Payplan of what our outogoings are.

The problem I think we might have is that where my husband works he does not know from 1 week to another how many hours he will be doing, plus as the winter is here there might not be too many hours going so I thought the best thing to do was to base what he is bringing in to the minimum number of hours he is likely to do.

We have had to send payslips off but these show that he has earnt a lot more.

Any extra money earnt - what happens to this in an IVA?

Southpaw18

Hi,

Thought id reply as I too havent had any replies on my thread as of yet!

Truth is if you tell them everything, they will take everything. One mistake I made was starting an IVA when I was earning £24k, so they based my payments on that, then when i took a pay cut, i lowered my IVA payments and they ended up adding an extra year, so be very careful.

Also make sure you budget for EVERYTHING. the company will try and give you a list of standard things and expect you to just use this, dont let them, think of everything, haircuts, medicine, lunch, anything at all, as they wont hold back if you get extra money, so you dont do that either.

Truth is, after they check your pay for the first time they tend to then take your word for it, i havent had to send payslips in a while, so after a while, it does die down, but try not to let it affect him too much.

Try tell them a set amount of hours and a basic salary, dont include overtime or extra work as everytime you do, they will simply take it away.

IVA's are very difficult and stressful, but dont cut yourselves short because your worried they may be angry, be as sly as they are, and dont feel pressured, I did and ive still not lived it down!

all the best, any advice you need just give me a quick PM.