www.iva.co.uk

My firm are going to make an offer to buyout Sundays and bank holidays at double time. This could cost me quite a lot each month as I rely on the overtime to make our IVA payments. I have no overtime clause in our IVA so will I be allowed to keep the payoff to spread out over the remaining two years of our IVA. It will be less than what I would have earned at double time. Or will I have to pay the whole sum over and do a new income and expenditure based on my basic pay.

I think that you will need to discuss this directly with your IP Debbie - it sounds as if this could be a windfall to me.

Thanks Melanie - I will do that as soon as we get more information. We will be getting personal letters to accept or reject the offer in a few weeks time. I suppose there will then be a delay to see if it goes through or not. Not really sure which way to vote though!! Don't think a £2k payoff will cover two years of £250 a month reduction in wages. Don't want my IVA to fail now we have nearly paid 3 years.