Daclan - why don't DFD work the 10% benchmark into their proposals in any case? I do this, so my clients know that they can keep the first 10% and don't need to wait to see if it is modified in.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Why indeed Melanie! My IVA proposal with DFD had a straight 50/50 of bonuses and overtime.... consistent aren't they? But I did agree to this though ! Would be nice if my annual review was on time also....Due July - now October and not a word !
I know DFD have been busy, but I think it should have been done by now.
I'm sure Declan will pick up on this on Monday.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks Kallis3 - Incidentally, does the 50/50 rule apply to the encashment of free company shares or would I have to hand the lot over? I work for Royal Mail and they have been dishing out free 'colleague' shares to staff for the past 3 years but these must be held and cannot be sold before July of next year, but 'have' to be sold by 2011...... their intrinsic value will become apparent when the time comes and this could amount to between £2000-£5000 in my case, depending on share price, and I will of course inform my IP when it happens!
I think the shares will be classed as a windfall and have to be handed over.
One of the experts will be along to confirm or otherwise.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
im with dfd and no mention of overtime in my proposal at all,seems all i get is annual review and up to now no increases,i get a pretty much guaranteed amount of overtime which equates to just about 10% of my weekly pay.
to be honest with the cost of living as it is at the moment with everything going up at silly rates ip's should start becoming a little more realistic with regards the real world and fight the accountant instinct who only see's figures that lurks within them,after all a failed iva is in no ones best interests.
The IP's put forward your proposal and the creditors either agree or otherwise.
You are very lucky if you don't have the overtime clause. The majority of us do, but to be perfectly honest, to able to keep the first 10% and then 50% of the remainder is great. Your creditors get extra, and you get to keep some money.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I only found this website after my IVA was commenced. One thing I would suggest is rereading your proposal because its amazing what you find.
I only found the clause about the overtime because of other comments on the forum that made me look!
At the time of your review if you inform your IP how much extra you are spending on food and petrol I am sure they will allow an adjustment. DFD did for us.
My last comment, and I by no means want to upset or offend anyone as that is not my intention but why do people worry about how long it takes to hear about annual reviews? As long as you pay the correct amount every month and 'play ball' your review should be relatively straight forward. I know DFD are a large company but they are probably dealing with a lot of new clients. I remember DFD spending hours upon hours on the telephone with me giving guidance, advice, reassurance etc. If it hadn't been for them being so patient I think I would have been suicidal. Yes the reviews are slow but I am sure you will not be forgotten and does it cost us anyting to show them a little patience! Like I say please do not take offence.
kallis3 wrote:
Payplan do it as well. That was in my proposal.
they didnt give me that option jan
just a straight 50/50
i expect every proposal would be different as thats the nature of the beast.
thats one of the big things when entering an iva,there are so many variables that you cant say yey or ney to any question thats asked
cc received 6th January 2014 now upwards and onwards
Sometimes you don't read your proposal as thoroughly as you should. We all want to stop the creditor calls and the letters and get our lives back on track.
Hindsight is a wonderful thing.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
thats one thing i avoided creditors calls.
changed my phone company just before i applied(totally by coincidence)for iva.
payplan sent the proposal through to check and like everybody else entering an iva i knew nothing about them before hand.
i wish i knew about this site as well but fairs fair payplan have been fine with everything so far so cant fault em.
but the one thing i found is that the rules are different for everybody depending on circumstances and which ip firm you go with,so apart from the ips we go in a bit blind.
but i can say best thing i did was put a full stop on my debt and will see this out if it kills me.
cc received 6th January 2014 now upwards and onwards
Same with me, I was sorting out the IVA before I found this site, and to be fair, I have no problem with Payplan at all. So far they have been there for us when we need them and the IVA is running smoothly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
