My IVA has been running for 4 years. I'm due to receive a state pension in the next few months. In my IVA it talks of windfalls and extra income. I want to know if my state pension is classed as income or a windfall.
Thanks for that it confirms my view. As my proposal says "a permanent increase in normal regular income will be used to increase my monthly contribution. I will increase my contribution by 50% of the net surplus after living costs". As my living costs are unlikely, at the moment, to increase am I correct in assuming that the net surplus means after any income tax deductions?
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