www.iva.co.uk

Posted: **Wed Dec 03, 2008 1:39 pm**

I have the opportunity to earn extra over the next two to three months due to staffing shortages. After this my company are changing the opening hours in most of our shops so I will have less overtime than I have relied on in the past. Would it be ok to earn as much as I can now to save for when I am earning less. My review is due early April so my annual wages would be a higher than next years. I do not have any sort of overtime clause in my IVA. I have been doing overtime since my husband had to give up work 18mths ago. At the moment I can still afford the payments and am not sure how much we are going to lose in overtime as the credit crunch affects us. I just don't want to waste this opportunity if it helps us over the next couple of years when things get more difficult.[:)][:)]

Posted: **Wed Dec 03, 2008 3:45 pm**

Hi Debbie, you would need to check your Terms and Conditions on your IVA but I believe you would have to hand over 50% of any Overtime you earn to go in your IVA pot and you can keep the rest

Posted: **Wed Dec 03, 2008 4:04 pm**

Hi rayb, Thanks for your reply. I have no mention of overtime in our terms and conditions, it just mentions windfalls. Just hoping I don't have to hand it all over.

Posted: **Wed Dec 03, 2008 4:55 pm**

Could they class it as a windfall?

I'd give your company a ring and just check with them.

Posted: **Thu Dec 04, 2008 12:09 am**

[:D]
If you get the chance do the overtime DO IT!!!as at the end of the month when it is pay day you will be able to have a nice comfortable month.
If you have the 50% clause Don't Worry about handing over the 50% too the IVA as it is not money lost as your interest is frozen in an IVA so think positive and look at it as that.
I sometimes do overtime and even though i hand over half of it , the extra half is for the home/myself and it makes you feel better as though you are having to Budget any extra is worth having.

Posted: **Thu Dec 04, 2008 7:26 am**

Hi
If you have no overtime clause then you are free to earn as much as you can and keep it.It will not fall under the windfall clause.
Do check with your IP regarding this non clause as it is quite unusual.
Regards

Posted: **Thu Dec 04, 2008 9:01 am**

Thanks very much for all your replies. I will go ahead and do as much as I can.

Debbie

Posted: **Thu Dec 04, 2008 10:54 am**

Hi Debbie

I am sure that your IP will be absolutely fine with this very sensbible idea, and has probably already made a note on their file!

Posted: **Thu Dec 04, 2008 11:17 am**

Thanks Melanie!![:)][:)]