I had a wage rise in January and sent off my new wage slip the day I recieved it.
I heard nothing from my IP so called them back after a week or so and was told no further payment was due. This was a surprise to me but the person I spoke to was adament it was correct and I left it at that.
I then got another wage rise at the end of April and again sent my wage slip in (by fax) last friday.
Yesterday I called my IP because again I had heard nothing and I have been told that the information I was given in January was incorrect and that my monthly payments have risen to compensate both wage rises.
Luckily for me I only have 4 payments left and my IP has not asked for anything to be back paid to make up the January to April deficit.
I only hope that during the closure process they do not change their minds.
Agreed luluj. My IVA proposal states that I have 14 days to pay any extra "uplift" (using the 10/50/50 rule). I have yet to test the goodwill of my IVA Company in not doing so lol.
Surprised at how and why so many fail to mention when they get extra money, after all they are quick enough to pick up the phone to their IVA company if they get underpaid.
I'm with Chezza on this.....tell them straight away (in an email preferrably) and record their reply. If they dont reply send another 7 days later. Saves any tears further down the line.
I came into this world with nothing and still have most of it left!
Just been having a look in from time to time on the forum and it really amazes me reading some of these posts especially ones like this. You have all been given a massive second chance to clear at least some of your debt and it seems that alot of people see it as an opportunity to try and avoid paying back what they owe what with bonuses or changes of job etc. We all signed an agreement at the end of the day to borrow this money so at least make an effort to pay some of it back!!!
I apologise if I come over as harsh but I learned a major lesson from this and will never allow myself to be in this situation again period [:)]
i have told hem about rises and been told they are ok if not as high as 3%, regards the bonuses i have looked back and there was one in 2008 aof £100-00 and then December 2011 £150-00, so just £250 in total of which was taxable of course so suppose i got net payment of say £170.00, will advise the IVA though. Hopefully it will be ok, i was never trying to gain anything extra just never really registered, perhaps i shouldnt be honest here to get the stick!
Chris123... I think you will be ok with the bonuses as they were not massive amounts.
Rayb, whilst I fully agree with the sentiment in your post I think it is easy to forget that when most of us take out an IVA we are so stressed at the time, followed by the sheer relief of acceptance, that although we have read our agreements, we don't necessarily absorb the full content. Now that I have completed (like yourself), I could probably remember more of the T & C's now, than I ever did when living within my IVA.
i have had a chat and they have told me the first bonus was ok as it was in the first monthof the IVA, and asked me to fax a copy of the payslip for the December 11 bonus, which was £150.00 they will then review....along with this months pay increase which was implimented also this month
Hi DFD would usually require your P60 at the annual review which states total income including bonuses so I would imagine this has probably been accounted for. if its worrying you just have a chat with DFD you will find them very helpful, as you are so near the end they will be keen to ensure that everything concludes as planned.
IVA finished June 2011
"If you listen to people who tell you what's impossible, they're usually the ones who failed" Paul Stanley
Ive had this before, where I have been paid overtime for bank holidays etc. You should inform your IP once you have been paid and they will just take the 50% minus the 10% from your account, the rest is yours to enjoy. However, as long as you keep the money you know you will owe to one side (so that you can afford to pay it when you do notify them), you should be ok as I have paid a lump sum from overtime earned over several months just prior to 12 month review. Think as long as its paid before review, in case of creditors, you have not breached as you have informed of add pay so I wouldnt worry. Either way, your IP is on your side, they dont want you to fail. New to here so hope this advice is helpful. Im no expert
