www.iva.co.uk

Hi Guys

Hubby has just come home from work with a letter stating that all overtime has been stopped as of last Friday's date. I think I am right in thinking that our IVA calculations will be worked out on basic pay and there will probably be a clause once our IVA is accepted regarding the 10%/50% overtime payments.

If the IVA is worked out on his basic, it won't be a problem, but do I need to let Melanie's team know now that his pay will be lower from now on? If I do, its not a problem as I can contact them tomorrow.

It never rains, but it pours doesn't it?

Any advice would help, thanks, Kazzy x

P.S. Despite the overtime, I feel loads more positive today so thanks to those of you who cheered me up yesterday. x

Hi kazzy
.
we earn overtime and one of the reasons we had to do something about our debt was that if it went we would not have survived at all we were struggling with it. Your payments should be worked out on basic income, but no harm in letting Melanies team know.
We are have been lucky to keep it so far, but the threat is looming nearer I think. Some have lost it already. One comfort I get from the iva is knowing we can manage even without the overtime, though it will be harder.
You will be fine, stay positive.

Ang xx

Sorry to hear about the overtime, I would copy the letter and let Melanie put it on file, I do that with everything received. Glad to hear you feeling more positive today.

melanie worked ours out on basic wage.. in case hubbys overtime stopped (which it did).. good luck kazzy

Thanks Ang & Lesley, that's what I thought. There's nothing we can do about it, so will HAVE to manage and budget accordingly. I am so glad the IVA is not worked out based on overtime payments also. It could leave you in even more of a mess couldn't it? I will copy the letter and send to Ang tomorrow.

Thanks for your advice. Feeling loads better as Michael is going to win the lotto tonight and take us all to Dublin. Lovely Michael

ladyh, the more the merrier, we don't care 'cos Michael's paying Mind you, he hasn't declared his numbers on the forum yet! Kazzy x

I've noted that Kazzy and can confirm that no overtime has been taken into account in your proposed IVA.

That's great thanks Melanie. Do you want me to send his written confirmation or is it irrelevant? Kazzy

Send it over for the completeness of my file please Kazzy.

OK will do, thanks for your help, Kazzy