www.iva.co.uk

hi all,we are in our 6th year of our iva,due to end aug 16.do the creditors complete the f and f at the end of the term,i ask this as i am due an extra £2000 in this months salary,this is due to a job evaluation that goes back to october 2012 thats only just been sorted!!if it was agreed in more timely fashion it would have worked out around £70 per month extra which wouldnt have taken me above the 10% extra you are allowed to earn.i presume this will be seen as a windfall and the 10% plus 50/50 will happen??thanks

I am afraid you will need to seek clarification from your IP. Perhaps you could explain as you have above, that had the payments been paid at the correct time, it would have been yours to keep.

If it is deemed a windfall you will lose the lot as the 10% 50/50 rule would not apply but if deemed a bonus then you would retain some. However yopur argument is a valid one so take this up with your IP as you should not be punished for the actions of your employer.

Hi

Would be good to see it divided by the 36 months concerned and then the 10% rule and 50/50 used but my guess it that it will all be deemed a windfall and payable into your IVA

Regards

Hi Shane - I would try your best to argue this is not a windfall. It sounds like your employer made an error and this is effectively overtime/bonus so the 10% 50/50 rule should apply.

Thanks for the responses,I have just spoken to my IP and it is classed as an uplift therefore the 10% 50/50 applies.At least we don't lose it all.thanks[:)]

Nice to hear something positive.

Not a bad result to be fair. Had you received the increase in 2012 you may have had to up your payments anyway so personally I would be happy with more than half.

That's good news - a great result under the circumstances.

Good news. Well done.