Annual Bonus

[northumbrian69]

I am in my first year of an IVA, I am expecting an annual bonus in January, I believe I have to pay 50% of this in to my IVA.
My question is; do I just increase my monthly standing order for one month to include 50% of my bonus, or do I have to first agree the amount to be paid with my IP and he tells me how much to pay.
This is a one off payment each year to compensate for extra and unsocial hours worked.
I am right in assuming I can keep half, aren't I [?][?][?][?][?]

[johnpaul]

hi there do you get anyother bonus overtime etc etc apart from that annual bonus the best thing i would do is to right a cheque out for half of the amount of the annual bonus and send it to your ip how much more of these annual bonuses will you get in the next 4 years if you get them you will have to hand half of that over to your ip each year

JOHNPAUL

[aguise]

Hi I ring my company and tell them and they tell me how much. I always check it before ringing. They take an extra dd for the amount but i would think if you have a cheque they will take that or just alter your payment for the month.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Skippy]

I only had one bonus while I was in my IVA and I contacted my case manager who confirmed how much extra I would need to pay. I never actually paid it though as I went BR straight afterwards.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[MelanieGiles]

I would personally just send a cheque for the difference. Amending a standing order can cause unecessary complications to an agreement to pay which is regular and established.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Adam Davies]

Hi
Good to see you back on the forum Northumbrian.
As others have said just wait until you receive the bonus and send off a cheque for 50% of the net figure.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Skippy]

When I was in my IVA I was told I couldn't do that - I had to send my payslip in and wait until my case manager confirmed how much I would need to pay. As I am perfectly capable of working out 50% of a bonus that seemed like a waste of their time to me!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/