overtime

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Cally

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Post by Cally » Fri Oct 26, 2007 4:23 pm
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i am going into an iva, if i do overtime at work will that money be taken from me?
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Adam Davies

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Post by Adam Davies » Fri Oct 26, 2007 9:29 pm
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hi
As Gordon states you will usually have to pay 50% of your overtime into your IVA.
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
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Fri Oct 26, 2007 10:48 pm
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This is a favourite modification put forward by a lot of creditors, but a lot of IP's will not provide for it in the IVA proposals, so you may be lucky and not get hit with what is a fairly tedious provision for both IP and client.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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zarron

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Post by zarron » Sat Oct 27, 2007 12:43 pm
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you may not get the 50/50 overtime clause and if so your IVA will a bit easier to get through especially if you are able to do regular overtime.

it was not part of my IVA (which i only discovered a year in!) and keeping all my overtime is the difference between surviving on bare essentials and acually having some decent disposable income to spend and save.
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