www.iva.co.uk

so here I am …..entering the last few miles in the IVA marathon, I'm almost down to 9 payments now and once again I had some issues with my IE report but managed to get them sorted, and I was told that as I only have the equity repayment to cover now, so I don't have to pay any extra in to my IVA for overtime or Bonuses so all of that is now mine to save/spend, so I just have to keep sending in the payslips each month to be checked ……….but its a nice feeling being told that the extra is now mine
I can't believe I'm getting towards the end of this marathon and this forum has been a guide like no other for help and information and you can do it …..there are times when you don't feel like you can but the most important thing I learnt was if you have any issues/doubts or worries contact your IP and scroll through this forum as many people have had the same issues over the years
the most important thing for all of us is to stay safe and healthy

Well done, Clanger, the time will fly now.

Great that you are almost there ... well done and please plan your celebrations as you deserve them x

Brilliant news Clanger - well done!

Nice one Clanger.

Does anyone know if the equity release year is the same for all IVA's regarding bonus and overtime payments not being required?

Wed Apr 22, 2020 8:41 amFizper wrote:

Nice one Clanger.

Does anyone know if the equity release year is the same for all IVA's regarding bonus and overtime payments not being required?

As far as I have always been aware the 'equity release year' is the same as every other year and the usual, agreed, obligations still apply. I would treat the advice given to Clanger with caution.

I have been giving this some thought and asking those that know and it would seem that this is a generally accepted stance in many firms --- much in the same way as being bound by the IVA in regard to windfalls etc. between final payment and formal completion, but not having to account for earned income. Although I have never seen this actually written down anywhere, it seems fair and proper.
I am still concerned that this will only relate to earned income, so don't go entering any lotteries in the extension year!