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lloyd01

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Post by lloyd01 » Tue Apr 01, 2008 4:51 pm
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Hi there.

Wondered if somebody could answer a question. I've just completed my 1st year of an IVA. One of the modifications to my original proposal was that I pay 50% of all overtime i earn. My divided is 61p in the £. As an example if i were to pay an extra £2000 a year into my IVA fund for the next 3 years i.e £6000 because of the overtime i'd earnt, what would happen if i were to make a full and final offer in the 4th year, could the extra £6000 i'd paid in be included in the proposal so long as i met the 61p in the £ dividend?

Any advice would be appreciated.
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Adam Davies

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Post by Adam Davies » Tue Apr 01, 2008 9:25 pm
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Hi
It's possible but upto your creditors in the end of the day.If your regular overtime means that by running the IVA to the end of term that they will receive more than 61p then they may go for that
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Tue Apr 01, 2008 10:24 pm
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I would say not - the additional money should be on top of your original pledge to fund a dividend of 61p in the £.
Regards, Melanie Giles, Insolvency Practitioner
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