Is a bonus at work counted as a windfall?

[Adam Davies]

Hi
The quality of your IP is probabaly the single most important factor regarding the overall success of your IVA.It is not just about getting the IVA accepted it,s about getting a realistic living allowance agreed and having a good communication line with your IP for the whole term of your IVA.
For anybody contemplating an IVA take your time in choosing the company to represent you.It may well be the most important decision you,ll ever make.
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

[misc]

Hi,

Changing the subject slightly - is the 50/50 rule hard and fast ? I've been paying 60% of any such bonus to the IVA company - do I have any recourse to challenge this ?

[aguise]

Hi misc it depends on what is in your proposal. If yours states 50% then yes i see no reason to ask for the extra that you paid either back or to be reduced from your next payment, but if it states 60% then that is right.

Ang

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

[Adam Davies]

Hi
Some people do not have the OT clause,lucky or what.Some people get to keep the first £500 of any windfall.
There doesn't seem to be any set benchmarks in insolvency.
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