www.iva.co.uk

Hi all,

Me again!

My hubby started a job last month - first one since being made redundant earlier this year.

We have kept everything to the bare minimum wherever possible to keep going and not fail the Iva's, in order to keep ticking over till he got a new job.

Now he is working but it's only part time, but they have been giving him overtime- which his contract states he is not allowed to refuse. Personally, we have no issue with this as more money coming in the better, but because it's so irregular, how will Creditfix calculate his 'basic' monthly wage? He has just had his first pay pack today and it's double what his contracted salary would be. However it's a temp job and next months is around 400 less.

Is it a case of his basic part time wage, then the 10/50/50 rule or not, as his salary including overtime is still £600+ less than what he was on originally ?

Really miss talking to 1 person from PJG about all this !

Any guidance would be gratefully received. #128513;#128513;

I would think it would be thecl 10 50 50 rule but crefitfix would need to confirm this. Give them a call to confirm

Im my experience, my iva was based on me earning a set amount of overtime and they never expected any extra payments unless i earned more than was required to afford my i/e agreement.

The standard 50/50 rule would be unfair in your current situation.

I would be looking to get a set amount of overtime agreed which is yours to keep before the 50/50 rule comes into play.

This was with payplan rather than creditfix and i understand what is acceptable with one ip will not be with the next.

You will need to have a certain amount of income to meet your living expenses and pay your IVA so personally I would be looking at exempting that amount at least before looking at the 10% 50/50.

Thank you all.

I tried ringing Creditfix a few times today, but was constantly waiting for over 20 mins each time, and couldn't hang on as I was at work.

Will try calling tomorrow !

My hubby worked with irregular overtime and still does. I was with Melanie and we were given a figure for arguments sake we'll say £1,000 per month and anything over that we paid in the IVA using the 10% to retain and spit 50/50 the remainder so some months we had a bit extra which was always nice. Ask them for the figure and send in your uplifts keeping a record of everything. Worked ok for us.

Just wondered if you are able to email Creditfix with any query . I know that I was able to do this with Payplan . Its not always easy to find time or the privacy needed to make a phone call in the working week .

Hi

Email may be better as you will have a response[hopefully!] in writing so that there can be no confusion in the future

Good luck

Regards

Hi folks, I have irregular overtime as well. I have the 10% 50/50 and a spreadsheet from the distant PJG. So each month I pump in my net total and it calculates what if any I need to pay extra into my IVA. So I don't get any nasty surprises come review time. And the 10% is always nice to have.

Thank you all for your responses.

I have worked out that if hubby brings home £1000 as a basic then we can work with that, so hopefully Creditfix will agree!