IVA and a better wage.

legoman

Hi there,

It's been a while... I have roughly over two years left to go in my IVA and was wondering. (I realise I was naive at the beginning of my IVA for the folk who remember me with wanting to travel etc.)

I pay my set amount after PayPlan have figured it out from my I&E and wondered if, one day I get a much better paid job. Nothing else changes as in my expenses remain the same but my wage rises substantially.

Does this then mean that my payments go up substantially to reflect this? The reason I ask is that I have applied for some new work in web design (having been doing it privately for 6 years now) and wondered if I did get a job my wage would be bigger. I was just thinking about savings etc... for the future, I understand that an IVA means I must pay debt before everything else but I thought I'd ask here before I ask PayPlan.

Thanks in advance.
:j


I realise this sounds like I don't want to pay off my debt, believe me I don't want to compramise the IVA I'm just considdering mine and my partners future together, well at least saving for it...

Payplan_company_representative

You would need to notify us of any income changes. We would conduct an Income and Expenditure review and we would look at all areas of your budget. With your new job you may be travelling further or have different expenses so we would look at offsetting additional income against your new expenses. I hope this helps.

legoman

Payplan_company_representative wrote: »

You would need to notify us of any income changes. We would conduct an Income and Expenditure review and we would look at all areas of your budget. With your new job you may be travelling further or have different expenses so we would look at offsetting additional income against your new expenses. I hope this helps.

Awesome thank you. I only sent my cv out yesterday so watch this space!:T

Payplan_company_representative

Good Luck