Get expert opinion. This is the place for new questions to be posted.
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Jacqueline.m
- Posts: 1
- Joined: Mon Mar 23, 2015 12:48 am
If an via is set up what happens if you do overtime and your monthly salary is more than usual?
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ridingthestorm
- Posts: 211
- Joined: Tue Oct 21, 2014 5:30 am
- Location: United Kingdom
the 10/50/50 rule normally applys. So you can earn 10% over your net take home and then the rest is split 50/50 with yourself and your IVA company. This is what my IVA states, but it may differ slightly with each IP
Loved Money, Hate Credit, Road to Recovery.... IVA started 3/3/14 -- IVA F&F accepted 18/5/17
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lifenoteasy
- Posts: 3248
- Joined: Thu Feb 05, 2015 2:26 pm
- Location: United Kingdom
Safer to work on a 50-50 split.
Also bear in mind that you can be down one month which they don't take into account and up the other where the 50-50 applies.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi
Check the wording of your Chairmans report following your creditors meeting. Usually you can retain an amount equal to 10% of your normal take home pay and the balance is then split 50/50
Regards
Andam Davies
