Variation- Overtime query please.

[aragorn]

Hi,

I have a dilema- I have not been able to pay my IVA for 2 months due to husband being made redundant. He now has a new job, which is less pay.
My iva company are working on a variation proposal and have told me to pay what we can- I intend to pay all my disposable income as from end of April when he will then be in receipt of an income.

My question is- In the meantime i have done some overtime in my employment should i stick to my 50% of any overtime paid into my IVA clause- or should i pay all my overtime into IVA?

I save any overtime money we get for clothes (only get £50 for three people (2 Ads 1 Child and both adults need to look smart for work.)
and christmas and birthday presents for daughter.


I hope this makes sense- i confuse myself sometimes!!



Thanks for any replies.

[Adam Davies]

Hi
Under the circumstances I would pay all your overtime and make sure that your IP knows that it all of it and not just the 50%.
If your IVA goes three months or more in arrears then it could be failed,using your share of the overtime will help to keep the arrears under the three month mark
Good luck

[aragorn]

Thankyou-makes sense

[AlanO]

Hi

I agree with Andy with regard to the potential danager of failure - However as there was reduced combined household income and the supervisor is looking at a variation and has said pay what you can - I wouldn't pay an amount that would leave you short on essential expenditure and priority payments

all the best alan

www.debtdr.co.uk