bonus

tallmatt1: Posts: 7; Joined: Sun Mar 20, 2011 8:58 am; Location:

by tallmatt1 » Thu Feb 14, 2013 7:32 pm

hi, i'm being paid my yearly bonus this payday and it's quite a significant amount. i'm looking at moving in april so will need funds to pay for deposit aswell as furniture and everything else needed due to renting fully furnished for the last 2 years. do you think my IP will let me off paying into the IVA or atleast pay a less amount than i should??

Shining: Posts: 27019; Joined: Thu Sep 20, 2007 8:57 am; Location:

by Shining » Thu Feb 14, 2013 7:44 pm

It's worth a question to your IP. explain as you've done here and hopefully you'll be able to retain some of your bonus x

IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.

tallmatt1: Posts: 7; Joined: Sun Mar 20, 2011 8:58 am; Location:

by tallmatt1 » Thu Feb 14, 2013 7:59 pm

i hope so!

i'm hoping someone on here has had a similar situation and will be able to advise?

Foggy

Posts: 33396

Joined: Fri Dec 17, 2010 11:14 am

Location: United Kingdom

by Foggy » Thu Feb 14, 2013 8:16 pm

Hi Tallmatt1. I am afraid everyone's experiences will be flavoured by the discretion of their individual IP's. They do have a certain amount of discretion in some areas and all apply this differently.

Your best bet is simply ask your IP how he / she will deal with the given situation (and get it in writing).

I am in the middle of a house move and my firm (I shouldn't say "my IP" as he has probably never heard of me) ... the people handling my case have been very accommodating regarding the extra costs involved in the exercise. So it can be done.

My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Tina Shortland

Posts: 2950

Joined: Tue Jan 05, 2010 11:30 am

Location:

by Tina Shortland » Thu Feb 14, 2013 8:28 pm

Hi tallmatt1 - I would agree, it seems to make a difference as to which IP you are with which is why the advice to anyone venturing out is to research carefully the companies they choose. Often the important difference comes down to how they handle adhoc situations as they crop up throughout the term, such as yours. Let us know how you get on. Moving costs and deposit etc are of course priority but furniture purchases me be more closely scrutinised to ensure it is essential.

Good luck.

Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com

If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.

Christabelle_sparkle: Posts: 447; Joined: Sat Jun 26, 2010 10:51 pm; Location:

by Christabelle_sparkle » Thu Feb 14, 2013 8:38 pm

Hi tallmatt1

my husband got his yearly bonus last april which was £2500 after tax. He needed a new car and we were able to keep all the bonus to fund the purchase.

everyones situation is different however,so it is definately worth talking to your ip.

An IVA is a long hard road but valuable lessons have been learnt along the way. Now looking forward to enjoying a debt free future!

tallmatt1: Posts: 7; Joined: Sun Mar 20, 2011 8:58 am; Location:

by tallmatt1 » Thu Feb 14, 2013 9:09 pm

thank you for the replies. im with cccs, or surestep as they're now called? i'll give them a call and let you know how it goes. cross your fingers for me!!

MelanieGiles Industry Expert

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by MelanieGiles » Thu Feb 14, 2013 10:48 pm

Can't you cover those expenses from your share of the bonus? And CCCS are now trading as StepChange charity.

Regards, Melanie Giles, Insolvency Practitioner

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