Proposal/modifications

[aguise]

Hi Lily
I know what you mean about giving them the extra, but we were living on the overtime before and saw no benefit as it paid bills all the time ,now at least we get the benefit of half of the money and it gives us a bit for pleasure or for the unexpected like the car costing £130 this week.
Hope your ok.

Angx

[scaredkez]

sorry skip will have to also agree with lily on this one when looking at the bigger picture and life after debt, i was prepared to take on a better paid job just to get the iva to work, however i have also just refused a big pay rise so that i won;t have to pay it all into the ipa, so probably best staying in the middle as undecisive lol.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Adam Davies]

Hi
I think that the clause of paying all of any payrise into your IVA a little bit like agreeing a payment into an IVA that is really beyond you.
At first you think....yes I can do this....but after a few months it becomes a real grind and you start to question that you have done the right thing.This is how taking promotion and paying all the extra money into your IVA will feel......at first its not too bad, because you think well at least I,m paying more towards my debts[very commendable], but after a few months of stress, caused by the extra responsibility ,you start to resent paying all this extra money into your IVA because you are working harder and probably longer for nothing.
Regards

[Skippy]

You've said that so much better than I could Andy. I'm reasonably well paid for what I do, so to get more money would have meant changing jobs and taking on more work and therefore more stress. I would have been happy to pay 50% of the pay rise, but I think people need to see some of it to motivate them - 5 years is such a long time.

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/

[scaredkez]

true skippy and thats why you have to keep your eyes wide open when entering an iva, five yrs is long haul and you always have to look at the bigger picture beyond now,so happy liverpool won by the way did i say that already lol
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[freelili]

You have to pay all of your extra pay rise into your IVA? No, I dont like the sound of that, I thought only half of it went in. In that case I disagree with lily also. (unless you can get the difference in cash and keep it in a drawer)

LILY

can it be, I am forever loved and you are watching over from above, isnt faith believing all power is not seen?

[Skippy]

50% would be ok, but in my IVA I would have had to have paid half the pay rise in until my annual review, and from then on the whole lot would have been paid in, hence I felt there was no reason to try and move on.

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/

[Qikichi]

I think we should be able to keep a little of it. They could keep 75%.

[Sadsack]

I have a job which is commission based on targets achieved. I have 20 targets to work toward every month. The company wants to see us achieve a minimum of 15 targets per month which means some serious money can be made. Although I do not have a clause in my IVA stating I have to hand over 50% of any extra monies earned - I am scared of earning too much as they will no doubt want this at my annual review. So I find myself in a predicament - do I hand over 50% when they ask for it or do I just plod along and not really try to achieve the targets set? If the original proposal for an IVA could be held, the creditors achieving the p in the £ that they require, why can we not use our overtime, extra commission earned etc to pay into the IVA thereby reducing the term? Seems logical to me but I suppose totally illogical to others!!!

Keep me smiling please!!

Sue

[aguise]

Hi Sue
I wish that was the way as I'd have paid an extra three months into mine and if overtime continues then we would finish two years early. Have you asked them about the target commission and if you have to pay any of it, that way at least you could save or prepare for it.As said before I pay the 50% each month to them knoowing it does not reduce the term lenghth but I am now wondering if I paid the other 50% of my overtime if that could be used to reduce the lenghth of the iva, as it would be our luxury money we would be forsaking.

Ang

[freelili]

ang

Its a great idea but its a no, unless you were paying all of the debt back plus interest plus fees, as they are writing debt off for you.

LILY

I believe that angels breathe and love will live on and never leave. I cherish all you gave me everyday.

[aguise]

Meanies arent they[:D]

Ang