thriving on an IVA budget

cheesedoffwithdebt

ami66 wrote: »

Oh it was lovely to start January with no Christmas Debt

We're slightly over January's budget due to a weekly wage being lower than the calculated monthly amount and also having to pay a road tax in the first month of the year :cool: but have put aside a little for Christmas 2013 and emergency fund so not all bad.

Opinions - What is INCOME?

Our agreement states 'Where you are employed, you must report any overtime, bonus, commission or similar'

We are both in an employment that does not pay overtime, bonus or commission so it is very unlikely we'll ever have anything to declare unless we get a pay rise.

However I do cash back, surveys, ebaying and MS jobs among other penny paying jobs, will that be consider as income?

Anyone had any dealing with a Tax Credits overpayment as part of an IVA? I should be receiving a lot more than I am but have deductions because of an over payment. The IVA includes the overpayment so can I expect to see an increase in my tax credits? Should I report this increase income if that does happen?

Have you noticed how much IF becomes part of your essential language when dealing with an IVA?:rotfl:

HI- my IVA allows me income of up to 10% of my normal take home pay in addition to what I normally earn and this doesn't have to go to creditors- however if you are doing little extras in theory it ought to be declared but if it's only £10 here and £10 there I doubt you'll be asked to hand it over. Everything counts as income if that's what it is, including tax credits- however I don't understand those so I'll bump that one along!!:rotfl: