Im in a bad situation, in my propsal almost 2yrs ago it stated my supervisor would collect my payslips every 12 months and that I must pay 50% of my extra earnings. Ive had one letter in nearly 2yrs explaining that all is up to date, and that 1 creditor still had not contacted them. what should I do I dont want to default because of neither of us did what we were supose to please help.
I wouldnt worry about a creditor not contacting your IP. As for your overtime it may be worth making sure that you are not building up an amount that your IP may decide to take right at the end of your IVA.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I would give your IP a ring though just to check that you shouldn't have paid anything across.
Do your conditions state that you can earn 10% of your salary before making any payments across, or is it a straight 50%? Worth checking.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It states Im allowed to earn £958 they have £258 and I have £700. Anything over this 50% is theres. They have never asked for anything wage slips nothing on the other hand Ive never supplied anything either. When the iva started I wasnt only doing nearly 24hrs overtime a month but i am also the cleaner which is all on the same pay slip. so say my take home pay was £1158 I would - £958 and / by 2 which meant I put away £100 for them. Would they default me if I supplied them anything now?
Also If i get any money over £500 ie win on lottery or relative dies then they have to have this aswell.
I was but a problem cropped up and at some points I didnt have it. Its nearly £3000 for the 2yrs and I have it now. I guess I should just phone them...
Just a q. If anyone on an iva should win the lottery would you have to give it all over? I mean like I in total owe about £30000 but if I won a million would they take it all?
Ps I hate to sound a bit think but everyone talks about an IP what is it?
Last edited by kelly.a on Wed Sep 03, 2008 1:21 pm, edited 1 time in total.
Your contract with the creditors is to pay over the additional monies that are due under the terms of that contract - so if your earnings are in excess of the proposal level it is your responsibility to ensure that those funds ar paid. However, the Supervisor should have been assisting you to manage this and if he/she has not fulfilled that duty you may be able to negotiate more time to pay with them to catch up any monies which are due but which you cannot pay.
Thankyou everyone I have just phoned the company to speak to my so called supervisor and they have given me someone else to speak to. It seems as though Im being handed round the office! lol
Ive just told that they may wish to forget about 06/07 and start afresh from 08 as I should be recieving a letter soon. Bit confused cn they do that? Also when I mentioned i have my job, my cleaning job and the overtime all from the same company and broken down but on one pay slip she stated they may change my monthly rate. I dont understand this as i thought my job was the main payment and the rest was 50%???
It's only overtime and bonuses that come under the 50% rule as far as I am aware.
I would have thought your cleaning job would be classed as normal employment and taken into account for your monthly payment.
Not sure about the other part. Probably best to wait and see what the letter says.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If they are prepared to stand behind not pursuing you for the earlier year, I would snap their hands off. It is possible that they realise that they should have been monitoring this and that they need to pull their socks up - but that will be down to them to justify to your creditors.
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