No, your IVA will not be affected if you change your job.
It is perfectly acceptable for you to change jobs whilst in an Individual Voluntary Arrangement (IVA).
There are however some practical points to bear in mind.
If your new job pays extra money there is a good chance that how much you pay into the Individual Voluntary Arrangement (IVA) will have to rise.
Creditors rightly expect you to pay back as much as possible in an Individual Voluntary Arrangement (IVA) and therefore minimise the amount they have to right off at the end of your IVA.
You also have to bear in mind that if you change jobs during an Individual Voluntary Arrangement (IVA), payments will be expected to continue without a payment break.
Sometimes this is not possible, but with proper planning most employers will accommodate your request to maintain your pay day, and if they do, there shouldn’t be a problem in maintaining your IVA’s schedule.
The most important thing to remember is to maintain good communication with the Insolvency Practitioner should you need or wish to make any material changes in your Individual Voluntary Arrangement (IVA).
From the point of administrating your Individual Voluntary Arrangement (IVA) so long as your IVA supervisor is aware of what is happening it should be a straight forward procedure.
If you need help with any problem arising from your Individual Voluntary Arrangement (IVA) you can speak to one of our experienced advisers by calling 0800 088 7503 or download one of our many free IVA guides designed to answer your questions related to Individual Voluntary Arrangements (IVAs), which you will find on the left hand side of any page on the site.
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