www.iva.co.uk

Hi All

Had my IVA approved on Thursday and just received all the info in the post this morning.
RBS for both current accounts and loan and Hitachi capital for a loan didn't vote, how does this stand as RBS are my biggest debt?
I've got the send my payslips in every 3 months and prior to my review the IP - is this normal practice?
xxx

hey roo roo
obviously you had enough of the other guys voting to pass it.

from what ive seen a lot of people send their payslips in every 3 months to their ip

For your IVA to be agreed you need 75% or more of the votes on the day to be in favour. It doesn't matter if your biggest creditors don't vote, they are bound by the terms of the IVA.

It's normal practice to submit payslips but it varies as to how often. Mine had to be sent in monthly, but I think most are quarterly.

I have to send my payslips and hubby's in every three months along with any uplift payment due, I'm sure all companies vary as to when but they will need them. x

It's 75% by value of the debts of the creditors who vote on the day. Everyone will now be bound.

We have to send payslips in quarterly. Have not had anything to uplift so far, but I believe some firms expect you to pay it across within 14 days.

I like to see monthly wageslips these days, to avoid clients getting into difficulty in managing their uplift payments - especially if they are regular earners of overtime.

why cant it be the same in all ivas?

by up lifts do you mean service pay rises that you get yearly mines about £10 extra a month does that count

No one IP is the same Orange - even in my own practice with four IPs we have different likes and dislikes!

By uplifts, I mean the extra monies that may need to be paid intot the IVA on a regular basis, after the first 10% allowance has been taken into account.