Payrise, Woohoo!!!

headstuckinsand

Just wanted to let you know a bit of good news for a change. I managed to secure a promotion at work which will result in a £6k payrise. :j

And the best thing is that as my annual review isn't until March, I'll take the full benefit of the rise for 8 months!

I'm so happy right now I could burst. Maybe my luck is finally changing!:D

spaceman5

headstuckinsand wrote: »

Just wanted to let you know a bit of good news for a change. I managed to secure a promotion at work which will result in a £6k payrise. :j

And the best thing is that as my annual review isn't until March, I'll take the full benefit of the rise for 8 months!

I'm so happy right now I could burst. Maybe my luck is finally changing!:D

Congratulations on your promotion, word of warning though, read the iva agreement you signed, and see what it says about pay increases etc, better still phone up your i.p and see what they say, as you dont want to get to the annual review and find out any bad news, as A) i would imagine with a 6k payrise, there will be substantial increase in your monthly payments, and if you wait the 8 months, i am pretty sure that your i.p will want to backdate the increased monthly payments to the date of the increase, which in your case will be 8 months worth, which could turn out to be a hefty sum they will want off you all in one hit

FoggyBrain_2

I specifically brought this question up with my IP and was told that any increase would be due 30 days from the review date at 50% of the net figure, with no backdating. However, proposals (and the way IPs interpret them) DO differ, so it's always best to check.