Right - it means that the first 10% of any income over and above your normal pay is yours (this is overtime and bonuses) After that then the remaining money is split 50/50 between you and the IP.
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
Hi Alys. Do check your proposal though, as some don't get the 10% disregard and split it staight 50 /50, which is still more than you thought you would get
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You do need to check your proposal/chairmans report Alys just to make sure that it applies to you. Some people do just have a straight 50/50.
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
