The reason I was given is that it states in my chairmans report ( and it does I think I checked) that is is 10% over my normal MONTHLY take home pay, so an annual bonus will affect my normal take home pay the month I receive it, I did get quite funny on the phone with the woman but she was adamant, I like you only realised after the event when I read about the 10% to start with I assumed and said to hubby I wouldn't have to worry about the bonus as it was only 8%. It only came to light after the creditor meeting when she was going through the details with me. When I re-read my proposal I noticed the word MONTHLY, didn't take any notice when I read it before I signed it. At least I get to keep some of it, I have had to pass over £345+ though bit rich really when my normal monthly payment to my IVA is only £180. [:(] But it least it gives a bit more to my creditors, and I do get to keep a bit more than they get. [:)][:)]
Last edited by Pandy on Mon Mar 21, 2011 5:55 pm, edited 1 time in total.
If life is what you make it, I must have been in a strange mood when I made mine
Hi Brig and so relieved all is ok!! Pandy - it just goes to show that even when yu think you've asked all the questions you could possibly ask and thought of everything there is still more to discover along the way. My proposal doesn't refer to monthly so I have something to work with. I would mind paying the share over 10% of my annual but what gets me is the way the system appears to penalise annual bonuses.
Hi BOL, my memory is playing tricks on me I blame my age...[:D]
Just dug out my proposal and it does not state MONTHLY just normal take home pay, and because I am paid monthly they class that as normal take home pay. I remember getting quite irate with her on the phone but she was adamant it was the normal monthly amount, her answer if I remember rightly ,it was over a year ago and I have been drunk since then..[:D][:D] was, if it was yearly how can we pay it across within 6 months of receiving it when the amount might change throughout the year.
If life is what you make it, I must have been in a strange mood when I made mine
I know that Graeme was looking into this for you today Broke. Definitely worth asking the question. Michael always has good justification for his decisions and interpretations, but his door is always open!
Hi - my case manager has spoken to various people who all say it should be measured against monthly pay so I asked him to go to the IP himself. So just waiting for an answer there. TBH - with my car falling through I haven't been able to take any more bad news this week will call Monday.
