Hi all. Bit of advice please? If I receive a one off payment from work in connection with a payrise, would I have to pay it across to iva pot? Entered into iva and this is the first time where Ive wondered if Ive done the right thing. Watching those around me pleased about payrise and me sitting there thinking oh dear, how is this going to affect my iva payment [?] I even found myself working out how old my kids are going to be when this is behind us, first wobble since it being accepted. Its 6 years too with the possibility of 7 if equity in house.
It should be accounted for into the IVA one way or another. If a one off your IP might treat it as a bonus under 10% 50/50. Otherwise at least 50 % is due to the IVA on whatever portion pertains to the period falls after the review.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
