new job

lucieloo

UpToMyNeckInIt wrote: »

Hi Lucieloo,

FiatFan may have a point: I too have heard of other IVA customers being stung by having to conduct a full review if income & expenditure, where they have had big job promotions/pay rises that are likely to be permanent. (Don't know if that's common practice though). Personally, I would argue with my IVA provider that this was not a provision of your original contract.

You have to bear in mind though, that you only have 1 more year on the IVA vs a long-term pay-rise. So don't refuse the job because of something that MAY affect you over the next 12 Months.

First Step: Check with your IP, to see what stance they are likely to take. Chances are, most case-workers won't want to make work for themselves with less than a Year to go, and applying 10/50/50 rule will suffice.

If however they take the full I&E review route. I suggest that you google 'CCCS budget guidelines 2011', (the latest version is not available for download, but this will give you an idea of ALL allowable expenditure categories if nothing else). Download the pdf document.

When reviewing your expenditure, make sure you claim all the allowances applicable to you: Hairdressing, sports/hobbies, kids pocket money, Sky TV, contingency funds etc. Lots of 'allowances' that most of us were probably not aware of at the outset of our IVAs.

Put your actual expenditure down where it exceeds the CCCS guidelines as well.

I would bet that you can justifiably demonstrate a higher Monthly expenditure amount, thus absorbing some of your payrise and minimising future IVA payments.

Have heard of other customers doing this quite successfully.

Hopefully this allows you to keep more of that payrise.

Hi thanks for reply,

I have just last month completed my last i&e and everything has stayed the same. I have just been offered the job last week so will they use all my last I&E figures?? I have just over 12 months left i think 15 as had a few payment breaks for some situations throughout the term. I will pay 50% of the rise with no hesitation at all as i believe this is my duty and would even offer to extend the payments if they wnted me too but i dont want to be working at huge stress levels for no benefit for my family. Does this sound selfish?? I am going to ring now and ask what would happen if i was offered a new job with a big rise and see what they say, if they say i woul pay the majority to them i will turn job down :mad:

lucieloo

This is what it says in my agreement.

1 A full review of the debtors I&E will be undertaken annually by the supervisor and will be incorporated into the annual report to the creditors. This must include a copy of the debtors latest p60 together with payslips for the 3 months prior to the review. Where net income has increased (including any routine overtime) the debtor shall increase contributions by 50%of the net surplus (after taking into account costs of living) commencing in the month following the review.

2 The debtor shall report any overtime, bonus commission or similar to the supervisor if not included in the original surplus calculation and where the sum exceeds 10% of the debtors normal take home pay. Disclosure to the supervisor will be made within 14 days of receipt and 50% of the amount over and above 10% shall then be paid to the supervisor within 14 days of the disclosure. Failure to disclose any exceptional overtime, bonus commission or similar by the debtor will be considered a breech of the arrangement and the supervisor shall notify the creditors in the next annual report with proposal for hoe the breech will be rectified.



Does this cover me?

lucieloo

And now im worried also as my new job does not know im in an iva?? they didnt ask or there was nothing asking me on application form so do they have to know? and if i tell them could they retract offer?? I have not lied i just have not told them information they didnt ask for?? sorry im panicking now as i am leaving a job of 9 years to better everything and feel like i may have done the wrong thing

UpToMyNeckInIt

I think in your head, you know the answer to these questions.

If your new employer didn't ask about the IVA - don't tell. (Unless you know of some obvious reason why your job would require disclosure of your IVA - may apply to some financial sector jobs and the Police Service etc. I suppose). What is your new job out of interest?

It is best to be honest with your IP though. Have come across one or two customers in a reportedly in a similar position to you - thinking that they have had their final review, only to be asked for one final one at conclusion of the plan (a VERY real possibility in many cases). In the meantime they have done loads of extra OT, had a payrise etc. and been naughty in not disclosing it.

Do you want to risk failing the IVA in the final year by 'risking it'. I wouldn't.

The clauses you have quoted, particularly para. 2 do seem to relate specifically to 'overtime, bonus commission or similar' (ie: not necessarily a permanent salary increase). A lot depends on how widely you interpret the word 'similar' I guess.

Ultimately, the IVA places the onus on you to inform your IP of significant change of circumstances. I suggest you give them a call Monday, and ask about the various permutations of accepting this new job and salary increase. (Maybe worth informing them about any associated increased commuting costs, factoring in the 'meals at work' allowance as well).

I can't be of much help: The wording of my IVA is somewhat different - not least because I'm self-employed. I just have a straight 50/50 rule regarding additional income, based on my annual accounts.

Let us know how you get on.

lucieloo

UpToMyNeckInIt wrote: »

I think in your head, you know the answer to these questions.

If your new employer didn't ask about the IVA - don't tell. (Unless you know of some obvious reason why your job would require disclosure of your IVA - may apply to some financial sector jobs and the Police Service etc. I suppose). What is your new job out of interest?

It is best to be honest with your IP though. Have come across one or two customers in a reportedly in a similar position to you - thinking that they have had their final review, only to be asked for one final one at conclusion of the plan (a VERY real possibility in many cases). In the meantime they have done loads of extra OT, had a payrise etc. and been naughty in not disclosing it.

Do you want to risk failing the IVA in the final year by 'risking it'. I wouldn't.

The clauses you have quoted, particularly para. 2 do seem to relate specifically to 'overtime, bonus commission or similar' (ie: not necessarily a permanent salary increase). A lot depends on how widely you interpret the word 'similar' I guess.

Ultimately, the IVA places the onus on you to inform your IP of significant change of circumstances. I suggest you give them a call Monday, and ask about the various permutations of accepting this new job and salary increase. (Maybe worth informing them about any associated increased commuting costs, factoring in the 'meals at work' allowance as well).

I can't be of much help: The wording of my IVA is somewhat different - not least because I'm self-employed. I just have a straight 50/50 rule regarding additional income, based on my annual accounts.

Let us know how you get on.

Thanks for taking the time to reply again. Yes i suppose you are right i do know the answers in my head, i am just panicking as i have take a big responsibility on without looking completely into it with regards to the iva. I know i have to inform my supervisor even though i have had my last review cause it would be sods law i would get caught and as you say its so not worth it. Not this far in, i also would be worrying all the time that im going to get found out.


My new job is a shop manager but no mention of iva's when i applied however other jobs i have applied for sometimes have asked so im hoping i dont have to tell them know?

FiatFan_2

lucieloo don't let your last year get in the way of the promotion. Yes it may be frustrating to have to pay up now, but just think of the massive income increase you'll have post iva. If they haven't asked about financial situations then I wouldn't worry too much.

I can understand that daunting feeling of leaving the security of a long term job, been in mine 8yrs and have a second interview next week for one to progress my career. Hopefully I'll be in the same situation with increased income if i get it.

lucieloo

FiatFan wrote: »

lucieloo don't let your last year get in the way of the promotion. Yes it may be frustrating to have to pay up now, but just think of the massive income increase you'll have post iva. If they haven't asked about financial situations then I wouldn't worry too much.

I can understand that daunting feeling of leaving the security of a long term job, been in mine 8yrs and have a second interview next week for one to progress my career. Hopefully I'll be in the same situation with increased income if i get it.

Good luck with that have your company asked about your financial situation?? Im going to try and just get on with it now i worry all the time and its not good for me, i need to learn to deal with the situation if and when it does Just dont want to move on then realise i should have stayed where i was lol Does any one know how much you are allowed for childcare?? i have 3 children and i pay someone to look after them after school but this new job entails someone looking after them in the morning too ?

lucieloo

So i have just rand my company and they have said they want me to send a new payslip in when i have been paid and they will do a new I&E. She did say that they wouldnt take all of my pay rise?? which does not make sense really. She said your living costs will rise?? My childcare and petrol will but not too sure about other things. I have had a look on the cccs budget sheet and i can see on there you can claim for childrens pocket money, dental and prescriptions, and meals for work, these i didnt realise you could. thanks for all your help and hopefully i have done the right thing x

UpToMyNeckInIt

Let us know how the review goes. Sounds like you are dealing with a case worker who is advising you to explore the increased expenditure areas, to minimise future IVA repayments.

Childcare is likely to be a significant outlay, so be sure to include it once you get something sorted.

Good luck.

FiatFan_2

lucieloo wrote: »

Good luck with that have your company asked about your financial situation?? Im going to try and just get on with it now i worry all the time and its not good for me, i need to learn to deal with the situation if and when it does Just dont want to move on then realise i should have stayed where i was lol Does any one know how much you are allowed for childcare?? i have 3 children and i pay someone to look after them after school but this new job entails someone looking after them in the morning too ?

Unfortunately it's not that clear cut for me, my employer is trying to find me alternative employment so they don't have to pay me redundancy. But if it all works out as verbally agreed then the future looks good (once i get it in writing!) if not it could be a nice summer off job hunting :rotfl:

We have 3 kids and currently claim £243 childcare vouchers, thankfully we have an understanding childminder who doesn't mind rolling over a balance knowing the following month is lower to balance it. We've £30pcm pocket money if that helps and even though our fuel is a bit on the high side, it's lower than we actually spend so have retained receipts to try increase it at our annual review.

Since it's your final year, see what you can claim from the guide notes UpToMyNeckInIt mentioned and claim everything to try have a luxurious final year :beer: