still on a high from the exeptance

[Phil]

Hi being new here,i have been reading all the posts while my IVA was being set up,Massive help. I have just had a IVA exepted through debmatters. Ihave just thought I get a xmas bonus approx £300 ontop of my weekly wages. will this count as a windfall. I have not yet received the IP report on the meeting. Plus in my currant job might be made salaried. Is it possible to change the standing order date to match when your wages go in each month.

So many questions still but still on a high from the exeptance.
Look foeward to your reply
Phil

[dcl]

Hi Phil
Congratulations on the acceptance of your IVA. My holiday bonus of £300 a year was included in my IVA but not as a windfall. I had a clause that said I had to pay 50% of any extra I got on top of my salary, such as overtime or bonus, so you may have a clause like that. Also with regards to the SO date I changed mine from the 15th of the month to the 24th when I changed jobs so there doesn't seem to be a problem with that.

[MelanieGiles]

Hi Phil

Your Christmas bonus will very likely fall under the windfall provisions, but do check the wording of both your IVA proposal and Chairman's report to be sure.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Aaron]

Hi Phil, usually I believe 50% can be kept and 50% paid in to the IVA. With mine I did declare that I get bonuses and so modifications were applied at the creditors meeting...I can now only keep £500 and pay the rest over unfortunately, but all goes towards increasing what the creditors get back, so hopefully good!

[freelili]

Hello phil

Just wanted to say congrats on your IVA acceptance

LILY

I asked God for a solution and have to live with his reply.

[sps]

Hi Phil
Congratulations from me also Best of luck for your future
Sue

[sps]

Hi Phil
Congratulations from me also Best of luck for your future
Sue

[jamesfalla]

Phil

It is great to hear that you IVA has been accepted. This always brings a smile to the faces of those who regularly post here and gives those who are still going through the process hope.

You will definitly be able to change your standing order date to better fit in when you get paid. Talk to Debt Matters about it

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk

[Phil]

Thank you for your kind replies
just one more qustion,I got back the chairmans report yesterday and i needed to send back by reply post a signed confirmation of the accepted modifications i agreed to.I had to get it back by today as they wanted it 4 days after the meeting Unfortunatly i did not read them till last night when I got back from work so it wont go back till today. I have contacted Debtmatters who said they will put it on file that it is in post and they will fax it over when they receive tomorrow. Will this effect the crediters dicision because it is late coming back,As i say i only received it yesterday.
Thankyou in advance of your replies as I am struggling to reply to the other posts for some reason also apologies for my naff spelling in the last post I was all exited up from the acceptance
Regards Phil

[MelanieGiles]

Hi Phil

No the only one who will get his knuckles rapped is your IP for filing the report late with the Registrar. The modifications should have been discussed with you on the day of the meeting, rather than relying upon the postal system. Or possibly this did actually happen and the report has already been filed - maybe your IP is just setting a deadline to ensure you return the document promptly!

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk