www.iva.co.uk

Hi
A quick question as still waiting for my ip to get back to me. My first IVA payment went out on 25FEB. I get paid on 20th of each month. I have the normal overtime clause 50% after the 10%. I have just had my overtime from Dec07 in this pay packet due to work loosing my first overtime sheet. I take it i need to pay the overtime into this months iva payment. Anyone help, dont mind the paying it just occurred to me as, worked and got it paid before my first payment, every little helps! .

Regards all pete

Hi
This will be due into your IVA as normal regardless of the fact that it was earned before your IVA was started,I'm afraid.
Regards

Hi Pete

You would be wise to pay over any additional earnings on a monthly basis - but make sure you operate the 10% allowance first and then pay over 50% of any higher amount. In reality you just need to make sure that by the end of the year all monies have been paid over - but I personally encourage all of my clients to do it as and when received and therefore avoid the temptation to spend it and pay it back later.

Thank you both for the advice. It has been sent.

Regards pete