How long to you get to pay any excess you have made at the end of every year ?

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Ann.zs

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Post by Ann.zs » Mon Apr 08, 2013 6:37 pm
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How long to you get to pay any excess you have made at the end of every year ?
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Foggy

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Post by Foggy » Mon Apr 08, 2013 6:46 pm
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Hi Ann. If you are referring to paying in extra income, this should be done monthly, within 14 days of being paid. If it is a shortfall discovered at review, you will need to pay this right away, by arrangement with your IP, they could grant a longer time depending upon circumstances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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luluj

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Post by luluj » Mon Apr 08, 2013 7:52 pm
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You should check the terms of your IVA proposal as it will stipulate when extra payments should be paid...mine were within 14 days of receipt of monies, but I know others where it was quarterly or six monthly.....your own proposal will clearly define the action you need to take.
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