Pay rise

[Adam Davies]

Hi
I would ask for a new income and expenditure form and list your new salary but not your bonus.
This should result in no increase to your basic IVA payments and once you do earn a bonus send 50% of it directly to your IP
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

[pixie]

Quick update

I've filled in a new expenditure list and had it all rejected bar £10. I've been told I can't now include my cats as they are not on the original proposal. They were originally removed simply to bring expenditure down so the proposal would be agreed.
Clothing/household are currently £20/£130 I can't increase these by more then 3% a year as they are at national guidelines!!! The household has to include the cats which cost £35 a month.
My bonus is being treated as a pay rise and will be paid at 100% the only concession to this is that if it isn't paid one month I can reduce payments. I'd probably have to make this up later!!
I have been asked to pay everything apart from a £10 increase over. This doesn't even include the original 3% surplus!
I'm quite happy to pay more but if expenses can never be realisticaly increased it's not going to work longterm.

Pixie

[Adam Davies]

Hi
That's a bit harsh
So you are paying all your payrise and all your bonus,as ive said it should be 50% of your bonus as it it not guaranteed.
I wonder how Melanie or Catullus would have dealt with this ?

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

[louiseh]

Doesn't sound very fair to me. What incentive is there to work harder to earn a bonus if you're not going to see even a tiny fraction of it. I'm all for paying back as much as possible to creditors but if your expenditure was unrealistic in thr first place then surely its in the creditors interest to allow you to increase your expeniture. If you can't you end up defaulting on payments you cannot afford, and no one benifits.

[pixie]

If they would take 50% of the bonus there would be no issue with expenditure. As it is I'm now seriously concerned that this will always remain the same regardless. My expenses have increased along with the new job and I'm now therefore in a worse position than before. It doesn't look like anything will change at the anual review either.
It was all going so well!

Pixie

[MelanieGiles]

Very harsh - and you are being forced to accept unrealistic expenditure. IVA's are not meant to make you have a life of purgatory, but are meant to take affordable repayments from you. Continue to make the payments if you feel that they are affordable, but I fear that you will struggle at certain times of the year. I would push for a variation if I were you - including the cats!

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

[pixie]

I'm still trying to argue it but I don't think i'll get anywhere! Is it actually possible to get a variation after only 5 months?
I know if I was to do this now I wouldn't have agreed to the expenditure but at the time I was desperate and I hadn't found this forum!
I meekly accepted everything I was told and as I hadn't lived on a budget before I accepted the figures they gave me. My fault I know but it was either that or BR. I was led to believe that these would be changed when revieved. It seems this isn't the case.

Does anyone know where they get the 'national guidelines' from?

Pixie

[MelanieGiles]

That is a little early, to be frank, unless you have experienced a dramatic change in circumstances.

The guidelines that a lot of firms use are based on the CCCS model - in my opinion outdated and unrealistic, but it still seems to have some credibility amongst some lenders.

I propose a new virtual reality TV programme based upon bank CEOs' being forced to live for 28 days on the CCCS guideline expenditure!!!!

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

[pixie]

lol can we throw in those who use it as well!

I guess I'll keep plodding on then. It just feels like there's no point at the moment. At least before there was still hope that things would improve now I know they will only get worse!

Pixie

[OPTIMIST12]

Dont lose heart Pixie - you have got this far!!! My monthly payment went up recently after a pay rise - but yours sounds a lot more complicated than mine was. Hope you will manage to see your IVA through to the end. Good Luck!!!!

[Skippy]

I can understand you feeling fed up Pixie - your IVA company seem to be very heavy handed with this. Have you spoken to your actual IP about this rather than just a case worker?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[pixie]

I've never spoken to my IP! I don't have a case worker as such either. I get a whole review team!
The attitude seems to be totally different on this side than the team that set it up.
I'm trying to stay positive and I know my situation is better than others. But if this is how it's going to be for the next 4 1/2 years I'm not looking forward to it! With a proper budget I could just get on with it.

Pixie

[couple31]

The guidelines that a lot of firms use are based on the CCCS model - in my opinion outdated and unrealistic, but it still seems to have some credibility amongst some lenders.

Do you have a link to the CCCS expenditure guide out of interest

Tried to find it on their site but couldn't see it

[Adam Davies]

Hi Pixie
Quote "The attitude seems to be totally different on this side than the team that set it up.
I'm trying to stay positive and I know my situation is better than others. But if this is how it's going to be for the next 4 1/2 years I'm not looking forward to it! With a proper budget I could just get on with it."
How true that seems to be with many IVA providers.
A good reason to choose the smaller companies that allow you to speak with the IP.
I would insist on speaking with your IP,don't give up on it............you have a long way to go
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

[pixie]

All Sorted [:D]

My queries were passed on to my IP and the result is that I've been allowed some more expenses inc. an increased clothing allowance. I've also been allowed to keep 50% of any income over my new basic plus the old bonus.
It works out I'll be £90 a month better off providing I earn the bonus.
I'm now feeling much more positive about everything [:)]

Thanks for all your help and support.