Overtime at work- in an IVA

[saz]

When i rang up i explained that some months i might get over time and some months i might not, and she said that i dont pay any of this towards the IVA as it's not definate or regular, as the wage slip i sent them didnt have any overtime on them, she says when it comes to my review they will look at my pay rise and if the overtime proves more regular then they will recalculate my expenditure, I'm not quite sure on it myself but she has said not to worry about it.

On the road to recovery IVA accepted
60months to go

[Oliver]

Well as long as the IP is reasonable about this and does not suddenly give you a large bill to pay or hike up your monthly payments unreasonably there won't be a problem.

Let us know what happens at the review.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[saz]

I will do, I might actually ask them for this in writing, like you said i dont want a hugh bill at the end of it all!! [:)]

On the road to recovery IVA accepted
60months to go

[MelanieGiles]

If you were my client, I would definately be following Oliver's suggestion, which seems the most sensible way forward to ensure that your ongoing payments are affordable.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[olympic_torch]

i do not get paid for my overtime, consequently every months salary is the same, however, i also have a part time job on a saturday,(this has been included in my income to ip), for which i am paid by the hour. occasionaly, in busy periods, i may stay on for an hour or 2, which would nett me an extra £10 or so.
Is there a 'lower' limit to which i have to declare to the ip?

[MelanieGiles]

It would be unfair (and completely not cost effective) to take the extra money you are earning from your part-time job - as I assume that you are only doing this in order to make your IVA payments fit a minimum criteria.

If not, what on earth are you doing working Saturdays as well?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[olympic_torch]

took a saturday job on to help pay the bills when mrs torch had to give up work through ill health.
like many other things, once i started i couldnt afford to give up.
my salary is not great, as we live in a rural area that pays rural wages, so i declared my part time earnings to ip, rather than quit the job, as i thought there may have been a danger my disposable income wasn't enough to cover the iva.