Income Decrease

mother_hen_2

We are just about to complete year two of our IVA - yearly review (due within the next month or so). I've just been told at work we will have to take a 4.6% decrease in salary - this worrys me as I am in joint IVA with my husband.
Now my husband on the other hand is still receiving yearly salary increases with bonuses that would far outweigh my 4.6% decrease, therefore how will this be viewed? Given my husbands salary would they want to extend the length of the IVA to make up 'my shortfall' or will they accept the extra from within my husbands payback?
Could anyone offer any guidance please?

Charco_2

Sounds fairly straightforward to me. That's the reason for annual reviews. A quick re-calculation of the I&E and nothing much will change... not a reason in the world to extend the IVA!

If your husband's income has increased considerably more than your decrease then you might just end up paying a little bit more towards your IVAs (between you both) but you can try to mitigate this with an increase in your household expenditure too.

mother_hen_2

Charco thankyou for your sound advice - as always..