Restrictions on spending overtime money?

[louiseh]

I have the 50% payments for Bonuses and overtime clause within my iva, I make the payments to IP as soon as I receive them, am I then free to spend the remaining 50% however I like, holiday extra mortgage payments etc.

[Skippy]

As far as I know you can spend (or save!) the other 50% however you want.

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/

[aguise]

Hi Louise. Yes you are, thats where most of my contingency fund comes from. If you have paid the 50% then the other 50% is yours. I have just paid for a sun holiday again with mine.

ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[louiseh]

Also booked another sun holiday for June, Im just hoping this june will be better than last!

[hallway]

Hi Louise Iv been in Iva for 10 months and my %50 of overtime paid for xmas great when you can get it.

[iva experts]

Hi Louise,

The 50% overtime/bonuses clause was actually created so the creditors would benefit and that also you would benefit. If they made it 100% there would be no incentive to work overtime at all.

So take your 50% and do with it what you like, you could even treat yourself [:D][:D]

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/